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

Olin Co. (NYSE:OLN)’s share price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $31.13 and last traded at $31.80, with a volume of 1552569 shares. The stock had previously closed at $32.13.

Analyst Ratings Changes

A number of brokerages recently commented on OLN. Wells Fargo & Company reduced their price objective on shares of Olin from $48.00 to $44.00 and set an “equal weight” rating for the company in a research report on Monday, October 28th. Piper Sandler reduced their price target on Olin from $51.00 to $41.00 and set an “overweight” rating for the company in a report on Tuesday. Barclays dropped their price objective on Olin from $45.00 to $43.00 and set an “equal weight” rating on the stock in a report on Friday, December 13th. Citigroup reduced their target price on Olin from $48.00 to $45.00 and set a “buy” rating for the company in a report on Monday, December 16th. Finally, Royal Bank of Canada lowered their price target on shares of Olin from $52.00 to $48.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 29th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $49.43.

Olin Trading Down 1.0 %

The business’s 50-day moving average price is $38.77 and its two-hundred day moving average price is $42.83. The firm has a market cap of $3.71 billion, a price-to-earnings ratio of 25.65, a price-to-earnings-growth ratio of 1.51 and a beta of 1.48. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.40 and a quick ratio of 0.82.

Olin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Thursday, November 14th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.52%. The ex-dividend date of this dividend was Thursday, November 14th. Olin’s dividend payout ratio (DPR) is 64.52%.

Olin declared that its board has approved a share buyback plan on Thursday, December 12th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the specialty chemicals company to reacquire up to 45% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other news, VP R Nichole Sumner sold 10,500 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $43.75, for a total value of $459,375.00. Following the transaction, the vice president now directly owns 24,056 shares in the company, valued at $1,052,450. This trade represents a 30.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.60% of the stock is currently owned by insiders.

Institutional Trading of Olin

Institutional investors and hedge funds have recently bought and sold shares of the business. First Hawaiian Bank grew its stake in Olin by 9.0% during the fourth quarter. First Hawaiian Bank now owns 21,642 shares of the specialty chemicals company’s stock worth $732,000 after buying an additional 1,785 shares during the period. Franklin Resources Inc. lifted its holdings in shares of Olin by 19.2% during the 3rd quarter. Franklin Resources Inc. now owns 1,073,087 shares of the specialty chemicals company’s stock valued at $51,015,000 after acquiring an additional 172,768 shares in the last quarter. Synovus Financial Corp purchased a new stake in Olin during the 3rd quarter worth $253,000. Wilmington Savings Fund Society FSB acquired a new stake in Olin in the 3rd quarter valued at $256,000. Finally, First Sabrepoint Capital Management LP purchased a new position in Olin in the third quarter valued at about $5,278,000. Institutional investors and hedge funds own 88.67% of the company’s stock.

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.