Olin (NYSE:OLN) Hits New 52-Week Low on Analyst Downgrade

Shares of Olin Co. (NYSE:OLN - Get Free Report) hit a new 52-week low during mid-day trading on Wednesday after KeyCorp lowered their price target on the stock from $40.00 to $34.00. KeyCorp currently has an overweight rating on the stock. Olin traded as low as $17.66 and last traded at $17.87, with a volume of 2698220 shares traded. The stock had previously closed at $19.17.

Several other research firms have also recently weighed in on OLN. Bank of America upgraded Olin from a "neutral" rating to a "buy" rating and cut their target price for the stock from $48.00 to $40.00 in a research note on Tuesday, January 14th. Royal Bank of Canada cut shares of Olin from an "outperform" rating to a "sector perform" rating and lowered their price objective for the stock from $45.00 to $30.00 in a research report on Tuesday, February 4th. Citigroup cut their target price on shares of Olin from $34.00 to $30.00 and set a "buy" rating on the stock in a research report on Thursday, March 27th. Morgan Stanley lowered their price target on shares of Olin from $31.00 to $28.00 and set an "underweight" rating for the company in a report on Tuesday, February 4th. Finally, BMO Capital Markets cut their price objective on Olin from $44.00 to $34.00 and set a "market perform" rating on the stock in a report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $34.63.

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Insider Transactions at Olin

In other Olin news, CEO Kenneth Todd Lane bought 7,250 shares of the firm's stock in a transaction dated Tuesday, February 4th. The stock was bought at an average cost of $28.06 per share, with a total value of $203,435.00. Following the completion of the transaction, the chief executive officer now directly owns 7,250 shares in the company, valued at approximately $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 this link. Insiders own 1.60% of the company's stock.

Hedge Funds Weigh In On Olin

Large investors have recently bought and sold shares of the stock. NBC Securities Inc. boosted its position in Olin by 108,185.7% in the first quarter. NBC Securities Inc. now owns 7,580 shares of the specialty chemicals company's stock worth $183,000 after purchasing an additional 7,573 shares during the last quarter. Parallel Advisors LLC increased its holdings in Olin by 767.4% during the first quarter. Parallel Advisors LLC now owns 4,224 shares of the specialty chemicals company's stock worth $102,000 after buying an additional 3,737 shares during the last quarter. GAMMA Investing LLC boosted its stake in Olin by 2,268.4% in the first quarter. GAMMA Investing LLC now owns 26,834 shares of the specialty chemicals company's stock valued at $650,000 after acquiring an additional 25,701 shares during the last quarter. Central Pacific Bank Trust Division bought a new position in shares of Olin during the 1st quarter valued at approximately $267,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Olin by 11.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 297,425 shares of the specialty chemicals company's stock worth $10,053,000 after purchasing an additional 29,919 shares during the period. 88.67% of the stock is currently owned by institutional investors.

Olin Trading Up 2.2 %

The company has a quick ratio of 0.77, a current ratio of 1.27 and a debt-to-equity ratio of 1.32. The firm has a 50 day moving average of $24.75 and a 200 day moving average of $34.21. The firm has a market cap of $2.40 billion, a PE ratio of 23.19 and a beta of 1.50.

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

Olin Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, March 6th were paid a dividend of $0.20 per share. The ex-dividend date was Thursday, March 6th. This represents a $0.80 annualized dividend and a yield of 3.83%. Olin's dividend payout ratio is currently 88.89%.

Olin Company Profile

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.