Olin (NYSE:OLN) Reaches New 12-Month Low - Time to Sell?

Shares of Olin Co. (NYSE:OLN - Get Free Report) hit a new 52-week low on Thursday . The stock traded as low as $22.33 and last traded at $22.50, with a volume of 115258 shares changing hands. The stock had previously closed at $24.70.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. cut shares of Olin from an "overweight" rating to a "neutral" rating and cut their price objective for the stock from $50.00 to $28.00 in a research report on Thursday, February 27th. KeyCorp reduced their price target on shares of Olin from $50.00 to $40.00 and set an "overweight" rating on the stock in a research report on Monday, February 3rd. BMO Capital Markets lowered their price objective on Olin from $44.00 to $34.00 and set a "market perform" rating for the company in a research report on Wednesday, February 5th. Truist Financial cut their target price on Olin from $38.00 to $32.00 and set a "hold" rating for the company in a research note on Monday, February 3rd. Finally, Bank of America raised Olin from a "neutral" rating to a "buy" rating and decreased their price target for the company from $48.00 to $40.00 in a research note on Tuesday, January 14th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $35.81.

Olin Trading Down 4.4 %

The company has a current ratio of 1.27, a quick ratio of 0.77 and a debt-to-equity ratio of 1.32. The company has a market cap of $2.11 billion, a PE ratio of 20.28 and a beta of 1.50. The company has a fifty day simple moving average of $25.99 and a two-hundred day simple moving average of $35.21.

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Olin (NYSE:OLN - Get Free Report) last released its earnings results on Thursday, January 30th. The specialty chemicals company reported $0.09 earnings per share for the quarter, topping analysts' consensus estimates of ($0.01) by $0.10. Olin had a net margin of 1.66% and a return on equity of 5.10%. Analysts anticipate that Olin Co. will post 1.38 EPS for the current year.

Olin Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, March 6th were given a dividend of $0.20 per share. The ex-dividend date was Thursday, March 6th. This represents a $0.80 annualized dividend and a dividend yield of 4.36%. Olin's dividend payout ratio (DPR) is currently 88.89%.

Olin declared that its board has approved a stock repurchase plan on Thursday, December 12th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the specialty chemicals company to buy up to 45% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling at Olin

In other Olin news, CEO Kenneth Todd Lane acquired 7,250 shares of the company's stock in a transaction dated Tuesday, February 4th. The shares were acquired at an average price of $28.06 per share, for a total transaction of $203,435.00. Following the acquisition, the chief executive officer now owns 7,250 shares in the company, valued at $203,435. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Olin

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Covestor Ltd lifted its position in shares of Olin by 45.8% during the 4th quarter. Covestor Ltd now owns 1,334 shares of the specialty chemicals company's stock worth $45,000 after buying an additional 419 shares during the last quarter. Spire Wealth Management raised its stake in Olin by 246.8% during the 4th quarter. Spire Wealth Management now owns 1,616 shares of the specialty chemicals company's stock worth $55,000 after acquiring an additional 1,150 shares in the last quarter. CoreFirst Bank & Trust purchased a new stake in Olin in the fourth quarter valued at $66,000. Jones Financial Companies Lllp boosted its stake in Olin by 59.9% in the fourth quarter. Jones Financial Companies Lllp now owns 2,431 shares of the specialty chemicals company's stock valued at $82,000 after acquiring an additional 911 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in shares of Olin by 34.3% during the fourth quarter. Blue Trust Inc. now owns 2,887 shares of the specialty chemicals company's stock worth $98,000 after purchasing an additional 738 shares during the last quarter. 88.67% of the stock is owned by institutional investors and hedge funds.

About Olin

Olin Corporation manufactures and distributes chemical products in the United States, Europe, Asia Pacific, Latin America, and Canada. It operates through three segments: Chlor Alkali Products and Vinyls; Epoxy; and Winchester. The Chlor Alkali Products and Vinyls segment offers chlorine and caustic soda, ethylene dichloride and vinyl chloride monomers, methyl chloride, methylene chloride, chloroform, carbon tetrachloride, perchloroethylene, hydrochloric acid, hydrogen, bleach products, potassium hydroxide, and chlorinated organics intermediates and solvents.