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

Olin Co. (NYSE:OLN) hit a new 52-week low during trading on Monday . The company traded as low as $33.22 and last traded at $33.27, with a volume of 163481 shares trading hands. The stock had previously closed at $33.45.

Analysts Set New Price Targets

OLN has been the subject of several recent research reports. BMO Capital Markets decreased their price objective on Olin from $50.00 to $47.00 and set a “market perform” rating for the company in a report on Tuesday, October 29th. KeyCorp reduced their target price on shares of Olin from $57.00 to $56.00 and set an “overweight” rating for the company in a research note on Monday, October 28th. Piper Sandler dropped their price target on shares of Olin from $57.00 to $51.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Barclays cut their price objective on shares of Olin from $45.00 to $43.00 and set an “equal weight” rating for the company in a report on Friday, December 13th. Finally, Wells Fargo & Company lowered their target price on shares of Olin from $48.00 to $44.00 and set an “equal weight” rating on the stock in a report on Monday, October 28th. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $50.14.

Olin Stock Performance

The company has a 50-day moving average of $41.52 and a 200 day moving average of $44.21. The firm has a market capitalization of $3.90 billion, a PE ratio of 26.96, a PEG ratio of 1.51 and a beta of 1.43. The company has a quick ratio of 0.82, a current ratio of 1.40 and a debt-to-equity ratio of 1.32.

Olin Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Thursday, November 14th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.39%. The ex-dividend date was Thursday, November 14th. Olin’s dividend payout ratio (DPR) is 64.52%.

Olin declared that its board has approved a share buyback program on Thursday, December 12th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the specialty chemicals company to buy up to 45% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Olin

In other news, VP R Nichole Sumner sold 10,500 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $43.75, for a total value of $459,375.00. Following the completion of the transaction, the vice president now directly owns 24,056 shares in the company, valued at approximately $1,052,450. This represents a 30.39 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.80% of the company’s stock.

Institutional Trading of Olin

A number of hedge funds have recently bought and sold shares of OLN. Franklin Resources Inc. grew its position in Olin by 19.2% during the third quarter. Franklin Resources Inc. now owns 1,073,087 shares of the specialty chemicals company’s stock valued at $51,015,000 after acquiring an additional 172,768 shares during the last quarter. Synovus Financial Corp purchased a new position in Olin in the 3rd quarter worth $253,000. Wilmington Savings Fund Society FSB bought a new stake in Olin in the third quarter worth $256,000. First Sabrepoint Capital Management LP purchased a new stake in Olin during the third quarter valued at about $5,278,000. Finally, Barclays PLC grew its stake in shares of Olin by 37.7% during the third quarter. Barclays PLC now owns 125,913 shares of the specialty chemicals company’s stock valued at $6,042,000 after buying an additional 34,485 shares during the last quarter. 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.