Olin (NYSE:OLN) Hits New 52-Week Low – Should You Sell?

Olin Corporation (NYSE:OLN) reached a new 52-week low on Tuesday . The stock traded as low as $16.68 and last traded at $16.84, with a volume of 168682 shares trading hands. The stock had previously closed at $16.88.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Truist Financial decreased their price objective on Olin from $24.00 to $20.00 and set a “hold” rating for the company in a report on Monday, August 3rd. The Goldman Sachs Group dropped their target price on shares of Olin from $24.00 to $20.00 and set a “neutral” rating on the stock in a report on Tuesday, August 4th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Olin from $30.00 to $20.00 and set a “hold” rating on the stock in a research report on Tuesday, August 25th. Wells Fargo & Company reissued an “equal weight” rating and set a $20.00 price target (down from $25.00) on shares of Olin in a research report on Monday, August 3rd. Finally, BMO Capital Markets dropped their price objective on shares of Olin from $30.00 to $25.00 and set a “market perform” rating on the stock in a research note on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $21.77.

Olin Stock Down 0.6%

The company has a market cap of $1.94 billion, a P/E ratio of -13.85 and a beta of 1.20. The company’s 50-day moving average is $19.31 and its two-hundred day moving average is $23.37. The company has a debt-to-equity ratio of 1.77, a current ratio of 1.42 and a quick ratio of 0.87.

Olin (NYSE:OLN) last announced its quarterly earnings results on Thursday, July 30th. The specialty chemicals company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.25). The business 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%. The company’s revenue for the quarter was down .9% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.01) earnings per share. As a group, equities analysts predict that Olin Corporation will post -0.68 earnings per share for the current fiscal year.

Olin Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 11th. Investors of record on Thursday, August 27th were issued a $0.20 dividend. The ex-dividend date was Thursday, August 27th. This represents a $0.80 annualized dividend and a yield of 4.7%. Olin’s dividend payout ratio (DPR) is currently -65.04%.

Institutional Investors Weigh In On Olin

A number of hedge funds have recently added to or reduced their stakes in OLN. Bank of New York Mellon Corp bought a new stake in shares of Olin during the second quarter valued at approximately $23,785,000. Dimensional Fund Advisors LP boosted its holdings in shares of Olin by 22.4% during the 1st 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. Pzena Investment Management LLC grew its holdings in 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 valued at $93,900,000 after buying an additional 671,250 shares in the last quarter. Amundi increased its position in Olin by 337.2% in the first quarter. Amundi now owns 684,036 shares of the specialty chemicals company’s stock worth $20,336,000 after purchasing an additional 527,586 shares during the last quarter. Finally, Segall Bryant & Hamill LLC bought a new stake in shares of Olin in the 1st quarter worth about $14,770,000. 88.67% of the stock is currently owned by hedge funds and other institutional investors.

Olin Company Profile

Olin Corporation is a global manufacturer of chemicals and ammunition headquartered in Clayton, Missouri. The company operates through two primary businesses: Chlor Alkali Products and Vinyls and Winchester.

Olin’s Chlor Alkali Products and Vinyls business produces essential chemicals including chlorine, caustic soda, hydrogen, hydrochloric acid, bleach products and related chlorinated compounds. These materials are used in water treatment, pulp and paper, construction, plastics, cleaning products and other industrial applications.