Olin (NYSE:OLN) Hits New 12-Month Low – What’s Next?

Olin Corporation (NYSE:OLN) hit a new 52-week low during trading on Tuesday. The company traded as low as $15.73 and last traded at $16.1210, with a volume of 124749 shares traded. The stock had previously closed at $16.05.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on OLN. Bank of America downgraded shares of Olin from a “buy” rating to an “underperform” rating and lowered their price target for the stock from $32.00 to $21.00 in a report on Tuesday, June 30th. Wells Fargo & Company reissued an “equal weight” rating and set a $20.00 target price (down from $25.00) on shares of Olin in a research note on Monday, August 3rd. JPMorgan Chase & Co. cut their price target on Olin from $26.00 to $25.00 and set a “neutral” rating for the company in a research note on Thursday, June 18th. Citigroup reiterated a “hold” rating and set a $19.00 price target on shares of Olin in a research report on Tuesday, September 15th. Finally, Truist Financial cut their price objective on Olin from $24.00 to $20.00 and set a “hold” rating for the company in a research report on Monday, August 3rd. One analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, Olin has an average rating of “Reduce” and a consensus target price of $21.77.

Olin Price Performance

The stock has a market cap of $1.83 billion, a price-to-earnings ratio of -13.05 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. The company’s fifty day moving average is $18.53 and its two-hundred day moving average is $22.93.

Olin (NYSE:OLN) last released its quarterly earnings results 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). Olin had a negative return on equity of 4.76% and a negative net margin of 2.08%.The firm had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.81 billion. During the same quarter last year, the company earned ($0.01) earnings per share. The firm’s revenue for the quarter was down .9% on a year-over-year basis. As a group, research analysts predict that Olin Corporation will post -0.68 earnings per share for the current year.

Olin Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 11th. Investors of record on Thursday, August 27th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 5.0%. The ex-dividend date was Thursday, August 27th. Olin’s payout ratio is currently -65.04%.

Hedge Funds Weigh In On Olin

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Values First Advisors Inc. increased its position in shares of Olin by 3.4% during the first quarter. Values First Advisors Inc. now owns 12,909 shares of the specialty chemicals company’s stock worth $384,000 after acquiring an additional 425 shares during the period. Oregon Public Employees Retirement Fund boosted its holdings in Olin by 2.2% in the first quarter. Oregon Public Employees Retirement Fund now owns 23,302 shares of the specialty chemicals company’s stock valued at $693,000 after purchasing an additional 500 shares during the period. First Citizens Bank & Trust Co. grew its stake in Olin by 2.0% during the 1st 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 in the last quarter. Rockefeller Capital Management L.P. grew its stake in Olin by 115.2% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,231 shares of the specialty chemicals company’s stock worth $26,000 after purchasing an additional 659 shares in the last quarter. Finally, ARGA Investment Management LP increased its holdings in Olin by 2.5% during the 1st quarter. ARGA Investment Management LP now owns 61,315 shares of the specialty chemicals company’s stock worth $1,823,000 after purchasing an additional 1,502 shares during the period. 88.67% of the stock is currently owned by hedge funds and other institutional investors.

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.