Olin (NYSE:OLN) Sets New 1-Year Low – Here’s What Happened

Olin Co. (NYSE:OLN)’s stock price hit a new 52-week low during trading on Monday . The company traded as low as $24.42 and last traded at $24.19, with a volume of 967195 shares traded. The stock had previously closed at $25.39.

Analyst Ratings Changes

A number of analysts recently issued reports on OLN shares. BMO Capital Markets lowered their price target on Olin from $44.00 to $34.00 and set a “market perform” rating for the company in a report on Wednesday, February 5th. JPMorgan Chase & Co. cut Olin from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $50.00 to $28.00 in a report on Thursday. Citigroup dropped their price target on Olin from $48.00 to $45.00 and set a “buy” rating on the stock in a research report on Monday, December 16th. UBS Group set a $28.00 price objective on Olin in a report on Thursday. Finally, Barclays reiterated an “equal weight” rating on shares of Olin in a report on Monday, February 3rd. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $38.38.

Olin Stock Down 5.9 %

The company has a 50-day moving average of $30.66 and a 200-day moving average of $38.65. The company has a current ratio of 1.27, a quick ratio of 0.77 and a debt-to-equity ratio of 1.32. The company has a market capitalization of $2.76 billion, a price-to-earnings ratio of 26.56 and a beta of 1.45.

Olin (NYSE:OLN) last posted its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.10. Olin had a net margin of 1.66% and a return on equity of 5.10%. On average, equities analysts predict that Olin Co. will post 1.38 earnings per share for the current fiscal year.

Olin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Thursday, March 6th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date is Thursday, March 6th. Olin’s dividend payout ratio (DPR) is presently 88.89%.

Olin declared that its Board of Directors has initiated a share buyback program on Thursday, December 12th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the specialty chemicals company to reacquire up to 45% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other news, CEO Kenneth Todd Lane acquired 7,250 shares of the business’s stock in a transaction dated Tuesday, February 4th. The shares were acquired at an average cost of $28.06 per share, with a total value of $203,435.00. Following the completion of the acquisition, the chief executive officer now owns 7,250 shares of the company’s stock, valued at approximately $203,435. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 1.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Olin

A number of large investors have recently bought and sold shares of OLN. Thrivent Financial for Lutherans lifted its stake in Olin by 5,746.2% during the 4th quarter. Thrivent Financial for Lutherans now owns 1,613,796 shares of the specialty chemicals company’s stock valued at $54,546,000 after acquiring an additional 1,586,192 shares during the period. Norges Bank purchased a new position in shares of Olin during the fourth quarter worth $47,887,000. Pzena Investment Management LLC lifted its position in Olin by 24.8% during the third quarter. Pzena Investment Management LLC now owns 3,452,708 shares of the specialty chemicals company’s stock valued at $165,661,000 after purchasing an additional 685,710 shares during the period. Hotchkis & Wiley Capital Management LLC lifted its position in Olin by 6.4% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 8,838,988 shares of the specialty chemicals company’s stock valued at $424,095,000 after purchasing an additional 531,330 shares during the period. Finally, Fuller & Thaler Asset Management Inc. boosted its holdings in Olin by 11.5% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 4,543,844 shares of the specialty chemicals company’s stock valued at $153,582,000 after purchasing an additional 467,680 shares during the last quarter. Hedge funds and other institutional investors own 88.67% of the company’s stock.

About Olin

Olin Corporation manufactures and distributes chemical products in the United States, Europe, Asia Pacific, Latin America, and Canada. It operates through three segments: Chlor Alkali Products and Vinyls; Epoxy; and Winchester. The Chlor Alkali Products and Vinyls segment offers chlorine and caustic soda, ethylene dichloride and vinyl chloride monomers, methyl chloride, methylene chloride, chloroform, carbon tetrachloride, perchloroethylene, hydrochloric acid, hydrogen, bleach products, potassium hydroxide, and chlorinated organics intermediates and solvents.