Olin (NYSE:OLN) Hits New 52-Week Low - Here's What Happened

Key Points

• Olin shares hit a new 52-week low, trading as low as $15.73 and last changing hands near $16.12, below the 50-day and 200-day moving averages.
• Analyst sentiment has deteriorated: multiple firms cut price targets or ratings, leaving Olin with an average “Reduce” rating and a consensus target price of $21.77.
• The company reported a quarterly loss of $0.12 per share, missing expectations by $0.25, while revenue declined year over year. Olin nevertheless maintained its $0.20 quarterly dividend, implying a roughly 5% yield.

Olin Corporation (NYSE:OLN - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Tuesday. The stock traded as low as $15.73 and last traded at $16.1210, with a volume of 124749 shares trading hands. The stock had previously closed at $16.05.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. decreased their price target on shares of Olin from $26.00 to $25.00 and set a "neutral" rating on the stock in a report on Thursday, June 18th. Truist Financial dropped their price objective on shares of Olin from $24.00 to $20.00 and set a "hold" rating for the company in a report on Monday, August 3rd. Bank of America lowered shares of Olin from a "buy" rating to an "underperform" rating and cut their target price for the stock from $32.00 to $21.00 in a research report on Tuesday, June 30th. Weiss Ratings reissued a "sell (d)" rating on shares of Olin in a research note on Wednesday, August 19th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on Olin from $30.00 to $20.00 and set a "hold" rating on the stock in a research report on Tuesday, August 25th. One analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Olin presently has an average rating of "Reduce" and a consensus target price of $21.77.

Olin Stock Down 0.0%

The stock has a 50 day moving average price of $18.53 and a 200-day moving average price of $22.93. The stock has a market capitalization of $1.83 billion, a P/E ratio of -13.05 and a beta of 1.20. The company has a debt-to-equity ratio of 1.77, a current ratio of 1.42 and a quick ratio of 0.87.

Olin (NYSE:OLN - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The specialty chemicals company reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.13 by ($0.25). The company had revenue of $1.74 billion during the quarter, compared to analysts' expectations of $1.81 billion. Olin had a negative return on equity of 4.76% and a negative net margin of 2.08%.The firm's quarterly revenue was down .9% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.01) EPS. As a group, research analysts expect that Olin Corporation will post -0.68 EPS for the current fiscal year.

Olin Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Thursday, August 27th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date of this dividend was Thursday, August 27th. Olin's payout ratio is -65.04%.

Institutional Trading of Olin

Institutional investors have recently made changes to their positions in the stock. Values First Advisors Inc. boosted its position in shares of Olin by 3.4% in the 1st quarter. Values First Advisors Inc. now owns 12,909 shares of the specialty chemicals company's stock worth $384,000 after purchasing an additional 425 shares in the last quarter. Oregon Public Employees Retirement Fund raised its position in Olin by 2.2% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 23,302 shares of the specialty chemicals company's stock worth $693,000 after buying an additional 500 shares during the last quarter. First Citizens Bank & Trust Co. raised its holdings in shares of Olin by 2.0% during the first quarter. First Citizens Bank & Trust Co. now owns 31,230 shares of the specialty chemicals company's stock worth $928,000 after purchasing an additional 609 shares during the last quarter. Rockefeller Capital Management L.P. lifted its holdings in shares of Olin by 115.2% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,231 shares of the specialty chemicals company's stock valued at $26,000 after buying an additional 659 shares during the period. Finally, ARGA Investment Management LP grew its holdings in Olin by 2.5% during the first quarter. ARGA Investment Management LP now owns 61,315 shares of the specialty chemicals company's stock worth $1,823,000 after acquiring an additional 1,502 shares during the period. Hedge funds and other institutional investors own 88.67% of the company's stock.

About Olin

Olin Corporation is a global manufacturer of chemicals and ammunition headquartered in Clayton, Missouri. The company operates through two primary businesses: Chlor Alkali Products and Vinyls and Winchester.

Olin's Chlor Alkali Products and Vinyls business produces essential chemicals including chlorine, caustic soda, hydrogen, hydrochloric acid, bleach products and related chlorinated compounds. These materials are used in water treatment, pulp and paper, construction, plastics, cleaning products and other industrial applications.

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