Olin (NYSE:OLN) Reaches New 12-Month Low - Here's Why

Key Points

• Olin shares hit a new 52-week low, falling to $16.73 before recovering to $17.66. The stock remains below its 50-day and 200-day moving averages.
• Analysts have mostly lowered their price targets, and Olin has a consensus “Reduce” rating with a $22.62 target. The company recently missed quarterly earnings and revenue expectations, while analysts anticipate a full-year loss.
• Olin declared a quarterly dividend of $0.20 per share, representing a 4.5% annualized yield, although its negative payout ratio reflects ongoing losses.

Olin Corporation (NYSE:OLN - Get Free Report)'s share price hit a new 52-week low on Tuesday . The stock traded as low as $16.73 and last traded at $17.66, with a volume of 2463499 shares. The stock had previously closed at $17.37.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on OLN shares. Deutsche Bank Aktiengesellschaft reduced their price target on Olin from $30.00 to $20.00 and set a "hold" rating on the stock in a report on Tuesday, August 25th. Truist Financial dropped their price objective on Olin from $24.00 to $20.00 and set a "hold" rating for the company in a research note on Monday, August 3rd. Mizuho increased their target price on shares of Olin from $23.00 to $24.00 and gave the stock a "neutral" rating in a report on Friday, July 31st. UBS Group decreased their price objective on Olin from $23.00 to $21.00 and set a "neutral" rating for the company in a research note on Monday, August 3rd. Finally, Morgan Stanley increased their target price on Olin from $18.00 to $22.00 and gave the company an "underweight" rating in a report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, ten have assigned a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, Olin presently has a consensus rating of "Reduce" and a consensus price target of $22.62.

Olin Price Performance

The company has a quick ratio of 0.87, a current ratio of 1.42 and a debt-to-equity ratio of 1.77. The stock has a fifty day moving average of $19.71 and a two-hundred day moving average of $23.71. The stock has a market cap of $2.02 billion, a price-to-earnings ratio of -14.36 and a beta of 1.20.

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 analysts' consensus estimates of $0.13 by ($0.25). The company had revenue of $1.74 billion for 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 period in the prior year, the firm posted ($0.01) EPS. On average, equities research analysts anticipate that Olin Corporation will post -0.68 earnings per share for the current year.

Olin Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Thursday, August 27th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, August 27th. This represents a $0.80 annualized dividend and a yield of 4.5%. Olin's dividend payout ratio (DPR) is presently -65.04%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in OLN. Rockefeller Capital Management L.P. raised its holdings in 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 acquiring an additional 659 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Olin during the first quarter worth approximately $32,000. Sunbelt Securities Inc. purchased a new position in Olin during the first quarter worth approximately $45,000. UMB Bank n.a. boosted its holdings in shares of Olin by 34.0% in the 4th quarter. UMB Bank n.a. now owns 2,597 shares of the specialty chemicals company's stock valued at $54,000 after purchasing an additional 659 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its holdings in shares of Olin by 45.0% in the 3rd quarter. NewEdge Advisors LLC now owns 2,323 shares of the specialty chemicals company's stock valued at $58,000 after purchasing an additional 721 shares during the last quarter. Institutional investors and hedge funds own 88.67% of the company's stock.

About Olin

Olin Corporation is a diversified manufacturer specializing in chemical products and ammunition. The company's core business activities encompass the production and distribution of chlor-alkali products, epoxy resins and derivatives, and small-caliber ammunition under the Winchester brand. Olin's chemical operations supply chlorine, caustic soda and related co-products to a wide range of end markets, including water treatment, pulp and paper, pharmaceuticals and general industrial applications.

In its Chlor Alkali Products & Vinyls segment, Olin operates multiple manufacturing facilities that produce chlorine and sodium hydroxide, along with vinyl chloride monomer and polyvinyl chloride (PVC) compounds.

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