Olin (NYSE:OLN) Hits New 12-Month Low – Time to Sell?

Shares of Olin Corporation (NYSE:OLN) hit a new 52-week low during trading on Monday . The stock traded as low as $17.00 and last traded at $17.1340, with a volume of 522530 shares changing hands. The stock had previously closed at $17.15.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on OLN shares. Mizuho lifted their target price on shares of Olin from $23.00 to $24.00 and gave the stock a “neutral” rating in a research note on Friday, July 31st. The Goldman Sachs Group lowered their price objective on Olin from $24.00 to $20.00 and set a “neutral” rating for the company in a research report on Tuesday, August 4th. Weiss Ratings reissued a “sell (d)” rating on shares of Olin in a research note on Wednesday, August 19th. BMO Capital Markets cut their target price on Olin from $30.00 to $25.00 and set a “market perform” rating on the stock in a research report on Monday, July 6th. Finally, Truist Financial decreased their target price on Olin from $24.00 to $20.00 and set a “hold” rating for the company in a research note on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, ten have issued a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $22.62.

Olin Price Performance

The company has a debt-to-equity ratio of 1.77, a current ratio of 1.42 and a quick ratio of 0.87. The firm has a market capitalization of $1.95 billion, a price-to-earnings ratio of -13.88 and a beta of 1.22. The business’s fifty day simple moving average is $20.19 and its 200 day simple moving average is $24.06.

Olin (NYSE:OLN) last announced 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 analyst estimates 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 for the quarter was down .9% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.01) EPS. On average, research analysts forecast that Olin Corporation will post -0.68 EPS for the current year.

Olin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Thursday, August 27th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date of this dividend is Thursday, August 27th. Olin’s dividend payout ratio is -65.04%.

Institutional Investors Weigh In On Olin

A number of hedge funds have recently added to or reduced their stakes in OLN. Orbis Allan Gray Ltd increased its stake in Olin by 448.9% during the 4th quarter. Orbis Allan Gray Ltd now owns 3,804,561 shares of the specialty chemicals company’s stock valued at $79,249,000 after purchasing an additional 3,111,393 shares in the last quarter. California State Teachers Retirement System lifted its stake in shares of Olin by 1,831.5% in the second quarter. California State Teachers Retirement System now owns 2,599,373 shares of the specialty chemicals company’s stock valued at $51,520,000 after buying an additional 2,464,794 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Olin by 1,063.0% during the third quarter. Millennium Management LLC now owns 2,486,702 shares of the specialty chemicals company’s stock valued at $62,143,000 after buying an additional 2,272,877 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Olin during the second quarter valued at about $23,785,000. Finally, Semper Augustus Investments Group LLC increased its position in shares of Olin by 141.3% during the third quarter. Semper Augustus Investments Group LLC now owns 1,924,245 shares of the specialty chemicals company’s stock worth $48,087,000 after acquiring an additional 1,126,809 shares in the last quarter. Institutional investors and hedge funds own 88.67% of the company’s stock.

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.