Olin (NYSE:OLN) Reaches New 12-Month Low – What’s Next?

Olin Corporation (NYSE:OLN) reached a new 52-week low during trading on Monday . The stock traded as low as $17.73 and last traded at $17.6950, with a volume of 1156764 shares trading hands. The stock had previously closed at $18.40.

Analyst Upgrades and Downgrades

Several equities analysts have commented on OLN shares. The Goldman Sachs Group decreased their price target on shares of Olin from $24.00 to $20.00 and set a “neutral” rating for the company in a research report on Tuesday, August 4th. Wall Street Zen lowered Olin from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 8th. Morgan Stanley increased their price objective on Olin from $18.00 to $22.00 and gave the company an “underweight” rating in a research note on Monday, May 11th. BMO Capital Markets decreased their target price on Olin from $30.00 to $25.00 and set a “market perform” rating for the company in a report on Monday, July 6th. Finally, Bank of America cut Olin from a “buy” rating to an “underperform” rating and lowered their target price for the stock from $32.00 to $21.00 in a research note on Tuesday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, ten have given a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $22.62.

Olin Stock Down 0.9%

The business’s 50 day moving average is $20.49 and its 200-day moving average is $24.20. 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 company has a market cap of $1.99 billion, a PE ratio of -14.16 and a beta of 1.22.

Olin (NYSE:OLN) last posted its quarterly earnings results on Thursday, July 30th. The specialty chemicals company reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.13 by ($0.25). Olin had a negative return on equity of 4.76% and a negative net margin of 2.08%.The firm had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.81 billion. During the same quarter last year, the firm earned ($0.01) EPS. The company’s revenue was down .9% on a year-over-year basis. As a group, analysts predict that Olin Corporation will post -0.64 EPS for the current year.

Olin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Thursday, August 27th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend is Thursday, August 27th. Olin’s dividend payout ratio is -65.04%.

Institutional Trading of Olin

A number of institutional investors have recently bought and sold shares of OLN. Hotchkis & Wiley Capital Management LLC increased its holdings in shares of Olin by 5.5% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 12,690,488 shares of the specialty chemicals company’s stock valued at $317,135,000 after acquiring an additional 661,730 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Olin by 22.4% in the first quarter. Dimensional Fund Advisors LP now owns 5,627,997 shares of the specialty chemicals company’s stock valued at $167,311,000 after purchasing an additional 1,031,498 shares during the last quarter. State Street Corp raised its holdings in Olin by 1.1% during the second quarter. State Street Corp now owns 4,830,406 shares of the specialty chemicals company’s stock worth $97,043,000 after purchasing an additional 50,309 shares in the last quarter. Pzena Investment Management LLC lifted its position in shares of Olin by 17.5% during the 4th quarter. Pzena Investment Management LLC now owns 4,507,913 shares of the specialty chemicals company’s stock worth $93,900,000 after buying an additional 671,250 shares during the last quarter. Finally, Orbis Allan Gray Ltd lifted its position in shares of 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 worth $79,249,000 after buying an additional 3,111,393 shares during the last quarter. 88.67% of the stock is owned by hedge funds and other 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.