Olin (NYSE:OLN) Hits New 1-Year Low – What’s Next?

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

Wall Street Analyst Weigh In

OLN has been the topic of a number of recent analyst reports. Weiss Ratings restated a “sell (d)” rating on shares of Olin in a report on Wednesday, August 19th. Truist Financial decreased 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. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $20.00 target price (down from $25.00) on shares of Olin in a research note 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 report on Tuesday, June 30th. Finally, The Goldman Sachs Group reduced their price target on shares of Olin from $24.00 to $20.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 4th. 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 issued a Sell rating to the stock. According to MarketBeat.com, Olin has an average rating of “Reduce” and a consensus target price of $22.62.

Olin Trading Down 2.4%

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 firm’s 50-day moving average is $19.63 and its 200-day moving average is $23.61. The firm has a market cap of $1.99 billion, a price-to-earnings ratio of -14.20 and a beta of 1.20.

Olin (NYSE:OLN) last issued its quarterly earnings data on Thursday, July 30th. The specialty chemicals company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.25). The company had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.81 billion. Olin had a negative net margin of 2.08% and a negative return on equity of 4.76%. Olin’s revenue was down .9% on a year-over-year basis. During the same quarter last year, the business posted ($0.01) earnings per share. As a group, sell-side analysts anticipate that Olin Corporation will post -0.68 EPS for the current fiscal year.

Olin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Thursday, August 27th will be given a dividend of $0.20 per share. The ex-dividend date is Thursday, August 27th. This represents a $0.80 annualized dividend and a dividend yield of 4.6%. Olin’s dividend payout ratio is -65.04%.

Institutional Investors Weigh In On Olin

A number of large investors have recently made changes to their positions in the business. Rockefeller Capital Management L.P. boosted its holdings 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 valued at $26,000 after buying an additional 659 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Olin in the first quarter valued at about $32,000. Sunbelt Securities Inc. bought a new stake in Olin during the first quarter valued at approximately $45,000. UMB Bank n.a. lifted its position in Olin by 34.0% during the fourth 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 in the last quarter. Finally, NewEdge Advisors LLC raised its position in shares of Olin by 45.0% during 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 period. 88.67% of the stock is currently owned by institutional investors.

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.