Olin (NYSE:OLN) Reaches New 1-Year Low – Here’s Why

Olin Corporation (NYSE:OLN) shares hit a new 52-week low on Friday. The company traded as low as $14.82 and last traded at $14.9050, with a volume of 4273927 shares changing hands. The stock had previously closed at $15.61.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. UBS Group cut their price target on Olin from $21.00 to $18.00 and set a “neutral” rating on the stock in a research note on Monday. Wall Street Zen downgraded Olin from a “sell” rating to a “strong sell” rating in a report on Saturday, August 8th. JPMorgan Chase & Co. cut their target price on Olin from $26.00 to $25.00 and set a “neutral” rating on the stock in a research report on Thursday, June 18th. 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 research note on Monday, July 6th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Olin in a report on Wednesday, August 19th. One analyst has rated the stock with a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Olin has an average rating of “Reduce” and an average price target of $20.92.

Olin Stock Down 4.5%

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 $1.70 billion, a price-to-earnings ratio of -12.12 and a beta of 1.23. The firm’s 50 day simple moving average is $17.43 and its 200-day simple moving average is $22.41.

Olin (NYSE:OLN) last posted its earnings results on Thursday, July 30th. The specialty chemicals company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.25). The firm had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.81 billion. Olin had a negative return on equity of 4.76% and a negative net margin of 2.08%.The firm’s revenue for the quarter was down .9% on a year-over-year basis. During the same quarter last year, the firm posted ($0.01) EPS. As a group, sell-side analysts anticipate that Olin Corporation will post -0.68 earnings per share for the current year.

Olin Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Thursday, August 27th were paid a $0.20 dividend. The ex-dividend date was Thursday, August 27th. This represents a $0.80 dividend on an annualized basis and a yield of 5.4%. Olin’s payout ratio is currently -65.04%.

Institutional Trading of Olin

Several institutional investors and hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its stake in 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 worth $167,311,000 after purchasing an additional 1,031,498 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Olin by 1.0% during the first quarter. Bank of New York Mellon Corp now owns 1,232,912 shares of the specialty chemicals company’s stock worth $36,654,000 after buying an additional 12,290 shares during the period. First Trust Advisors LP grew its holdings in shares of Olin by 80.8% during the first quarter. First Trust Advisors LP now owns 713,041 shares of the specialty chemicals company’s stock worth $21,199,000 after buying an additional 318,588 shares during the last quarter. Amundi grew its holdings in shares of Olin by 337.2% during the first quarter. Amundi now owns 684,036 shares of the specialty chemicals company’s stock worth $20,336,000 after buying an additional 527,586 shares during the last quarter. Finally, Segall Bryant & Hamill LLC acquired a new position in Olin in the 1st quarter valued at about $14,770,000. Hedge funds and other institutional investors own 88.67% of the company’s stock.

Olin Company Profile

Olin Corporation is a global manufacturer of chemical products and ammunition. The company operates through its Chlor Alkali Products and Vinyls, Epoxy, and Winchester businesses, serving customers in a range of industrial, commercial, and consumer markets.

Olin’s Chlor Alkali Products and Vinyls business produces chlorine, caustic soda, hydrochloric acid, hydrogen, bleach products, chlorinated organic chemicals, and related materials used in water treatment, construction, pulp and paper, energy, and other manufacturing applications.