Olin (NYSE:OLN) Trading Down 4.9% – Time to Sell?

Olin Corporation (NYSE:OLN)’s share price traded down 4.9% during trading on Thursday . The company traded as low as $19.91 and last traded at $19.9750. Approximately 1,116,834 shares were traded during trading, a decline of 62% from the average daily volume of 2,966,617 shares. The stock had previously closed at $21.00.

Wall Street Analysts Forecast Growth

OLN has been the topic of a number of research reports. JPMorgan Chase & Co. reduced their price objective on Olin from $26.00 to $25.00 and set a “neutral” rating on the stock in a research note on Thursday, June 18th. Wall Street Zen downgraded Olin from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. The Goldman Sachs Group raised their target price on shares of Olin from $22.00 to $31.00 and gave the company a “neutral” rating in a report on Tuesday, May 12th. Mizuho reduced their price target on shares of Olin from $26.00 to $23.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 1st. Finally, Citigroup downgraded shares of Olin from a “neutral” rating to an “underperform” rating in a research note on Tuesday, June 30th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, nine have issued a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, Olin currently has an average rating of “Hold” and an average price target of $27.15.

Olin Stock Performance

The firm has a market capitalization of $2.27 billion, a PE ratio of -17.84 and a beta of 1.21. The business has a 50-day simple moving average of $24.56 and a 200-day simple moving average of $24.70. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.36 and a quick ratio of 0.82.

Olin Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Thursday, May 14th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.0%. The ex-dividend date was Thursday, May 14th. Olin’s dividend payout ratio is presently -71.43%.

Institutional Trading of Olin

A number of institutional investors have recently bought and sold shares of OLN. Strategic Advocates LLC bought a new position in Olin during the third quarter valued at $25,000. Rockefeller Capital Management L.P. boosted its stake in shares of 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 during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Olin during the 1st quarter worth about $32,000. Allworth Financial LP grew its holdings in Olin by 114.0% during the 3rd quarter. Allworth Financial LP now owns 1,740 shares of the specialty chemicals company’s stock valued at $43,000 after purchasing an additional 927 shares during the last quarter. Finally, Sunbelt Securities Inc. bought a new position in Olin during the 1st quarter valued at about $45,000. 88.67% of the stock is currently owned by institutional investors.

Olin Company Profile

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.