Olin (NYSE:OLN) Sets New 1-Year Low - Time to Sell?

Key Points

• Olin shares fell to a new 52-week low of $16.67, trading below both their 50-day and 200-day moving averages. The stock has a market capitalization of about $1.9 billion and a dividend yield near 4.8%.
• Analysts remain cautious, with a consensus rating of “Hold” and an average price target of $21.77. Recent firms lowered their targets, generally to around $20–$21, despite KeyCorp initiating coverage with an “Overweight” rating and a $26 target.
• Olin’s latest quarterly results missed expectations, reporting a $0.12 loss per share versus the anticipated $0.13 profit, while revenue declined slightly year over year. Analysts expect a full-year loss of approximately $0.68 per share.

Shares of Olin Corporation (NYSE:OLN - Get Free Report) reached a new 52-week low during mid-day trading on Monday . The company traded as low as $16.67 and last traded at $16.81, with a volume of 3943625 shares changing hands. The stock had previously closed at $16.84.

Analyst Ratings Changes

A number of research analysts have commented on the stock. KeyCorp began coverage on shares of Olin in a research note on Friday, September 11th. They set an "overweight" rating and a $26.00 target price for the company. Deutsche Bank Aktiengesellschaft cut their target price on shares of Olin from $30.00 to $20.00 and set a "hold" rating on the stock in a research note on Tuesday, August 25th. Wells Fargo & Company restated an "equal weight" rating and set a $20.00 price objective (down from $25.00) on shares of Olin in a research report on Monday, August 3rd. UBS Group cut their price target on Olin from $23.00 to $21.00 and set a "neutral" rating on the stock in a research report on Monday, August 3rd. Finally, The Goldman Sachs Group reduced their price objective on Olin from $24.00 to $20.00 and set a "neutral" rating for the company in a research note on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $21.77.

Olin Trading Down 1.1%

The business has a 50 day simple moving average of $19.17 and a two-hundred day simple moving average of $23.25. The company has a market cap of $1.90 billion, a PE ratio of -13.51 and a beta of 1.20. The company has a current ratio of 1.42, a quick ratio of 0.87 and a debt-to-equity ratio of 1.77.

Olin (NYSE:OLN - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The specialty chemicals company reported ($0.12) earnings per share 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 business's revenue for the quarter was down .9% on a year-over-year basis. During the same period in the prior year, the business earned ($0.01) EPS. On average, analysts forecast that Olin Corporation will post -0.68 EPS for the current fiscal year.

Olin Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Thursday, August 27th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date of this dividend was Thursday, August 27th. Olin's dividend payout ratio is -65.04%.

Institutional Trading of Olin

Several large investors have recently added to or reduced their stakes in the business. Rockefeller Capital Management L.P. boosted its holdings in Olin by 115.2% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,231 shares of the specialty chemicals company's stock worth $26,000 after buying an additional 659 shares in the last quarter. Sunbelt Securities Inc. purchased a new stake in Olin in the 1st quarter worth about $45,000. Nykredit A S purchased a new stake in shares of Olin in the second quarter worth approximately $59,000. IFP Advisors Inc boosted its stake in shares of Olin by 118.9% during the 2nd quarter. IFP Advisors Inc now owns 3,163 shares of the specialty chemicals company's stock valued at $63,000 after buying an additional 1,718 shares during the period. Finally, Nalls Sherbakoff Group LLC acquired a new stake in Olin during the fourth quarter valued at $66,000. 88.67% of the stock is currently owned by institutional investors and hedge funds.

Olin Company Profile

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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