Olin (NYSE:OLN) Hits New 1-Year Low - Here's Why

Olin Co. (NYSE:OLN - Get Free Report)'s stock price reached a new 52-week low during trading on Wednesday . The stock traded as low as $21.11 and last traded at $21.62, with a volume of 1619539 shares trading hands. The stock had previously closed at $22.03.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on OLN. JPMorgan Chase & Co. downgraded Olin from an "overweight" rating to a "neutral" rating and cut their price target for the stock from $50.00 to $28.00 in a report on Thursday, February 27th. BMO Capital Markets cut their target price on Olin from $44.00 to $34.00 and set a "market perform" rating on the stock in a research note on Wednesday, February 5th. KeyCorp lowered their price target on shares of Olin from $40.00 to $34.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. Wells Fargo & Company cut their price objective on shares of Olin from $25.00 to $19.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 9th. Finally, Truist Financial decreased their target price on shares of Olin from $32.00 to $25.00 and set a "hold" rating for the company in a research report on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, Olin has a consensus rating of "Hold" and a consensus price target of $30.87.

Olin Price Performance

The firm has a market capitalization of $2.49 billion, a P/E ratio of 24.02 and a beta of 1.50. The business's fifty day moving average is $23.04 and its 200 day moving average is $32.04. The company has a current ratio of 1.27, a quick ratio of 0.77 and a debt-to-equity ratio of 1.32.

Olin (NYSE:OLN - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $0.09 earnings per share (EPS) 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%. As a group, analysts forecast that Olin Co. will post 1.38 EPS for the current year.

Olin Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, March 6th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.70%. The ex-dividend date of this dividend was Thursday, March 6th. Olin's dividend payout ratio is 88.89%.

Insider Activity at Olin

In other news, CEO Kenneth Todd Lane acquired 7,250 shares of Olin stock in a transaction on 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 purchase, the chief executive officer now owns 7,250 shares of the company's stock, valued at $203,435. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Olin

A number of large investors have recently made changes to their positions in the company. Fifth Third Bancorp grew its position in Olin by 160.5% during the 1st quarter. Fifth Third Bancorp now owns 1,206 shares of the specialty chemicals company's stock worth $29,000 after purchasing an additional 743 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Olin in the first quarter worth $31,000. Allworth Financial LP grew its holdings in shares of Olin by 188.5% during the first quarter. Allworth Financial LP now owns 1,676 shares of the specialty chemicals company's stock valued at $37,000 after buying an additional 1,095 shares in the last quarter. Covestor Ltd raised its position in Olin by 45.8% during the fourth quarter. Covestor Ltd now owns 1,334 shares of the specialty chemicals company's stock valued at $45,000 after buying an additional 419 shares during the period. Finally, Spire Wealth Management lifted its stake in Olin by 246.8% in 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. Institutional investors and hedge funds own 88.67% of the company's stock.

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.

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