Olin (NYSE:OLN) Reaches New 52-Week High – What’s Next?

Olin Corporation (NYSE:OLN)’s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $27.79 and last traded at $27.6360, with a volume of 2591361 shares changing hands. The stock had previously closed at $25.26.

Analyst Ratings Changes

OLN has been the subject of a number of recent analyst reports. KeyCorp dropped their price objective on Olin from $29.00 to $26.00 and set an “overweight” rating for the company in a research note on Monday, February 2nd. Wells Fargo & Company lifted their target price on Olin from $21.00 to $25.00 and gave the company an “equal weight” rating in a research note on Friday, March 13th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $26.00 price target on shares of Olin in a report on Tuesday, February 10th. UBS Group set a $21.00 price target on Olin in a research note on Monday, February 2nd. Finally, Wall Street Zen lowered shares of Olin from a “hold” rating to a “sell” rating in a report on Saturday, January 10th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Olin has a consensus rating of “Hold” and a consensus price target of $23.73.

Olin Trading Up 1.8%

The stock has a market cap of $3.25 billion, a PE ratio of -75.10 and a beta of 1.56. The stock has a 50-day moving average price of $24.50 and a two-hundred day moving average price of $23.02. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.21 and a quick ratio of 0.73.

Olin (NYSE:OLN) last posted its earnings results on Thursday, January 29th. The specialty chemicals company reported ($0.58) EPS for the quarter, hitting analysts’ consensus estimates of ($0.58). Olin had a negative return on equity of 0.48% and a negative net margin of 0.63%.The company had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same period in the previous year, the business earned $0.09 earnings per share. The firm’s revenue for the quarter was down .4% on a year-over-year basis. Sell-side analysts forecast that Olin Corporation will post 1.38 earnings per share for the current fiscal year.

Olin Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Tuesday, March 3rd were paid a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, March 3rd. This represents a $0.80 dividend on an annualized basis and a yield of 2.8%. Olin’s payout ratio is presently -210.53%.

Insider Transactions at Olin

In related news, VP R Nichole Sumner sold 4,750 shares of the business’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $22.49, for a total value of $106,827.50. Following the sale, the vice president owned 24,771 shares in the company, valued at approximately $557,099.79. The trade was a 16.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Angela M. Castle sold 2,379 shares of the business’s stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $24.25, for a total transaction of $57,690.75. Following the completion of the sale, the vice president owned 1,528 shares in the company, valued at $37,054. This represents a 60.89% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 99,379 shares of company stock valued at $2,238,298 in the last ninety days. Corporate insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Olin

A number of institutional investors and hedge funds have recently made changes to their positions in OLN. Covestor Ltd increased its holdings in shares of Olin by 10.6% in the 4th quarter. Covestor Ltd now owns 5,189 shares of the specialty chemicals company’s stock worth $108,000 after buying an additional 497 shares during the last quarter. ARGA Investment Management LP lifted its holdings in shares of Olin by 0.9% in the 3rd quarter. ARGA Investment Management LP now owns 60,359 shares of the specialty chemicals company’s stock valued at $1,508,000 after acquiring an additional 546 shares during the last quarter. Madison Asset Management LLC lifted its holdings in shares of Olin by 0.6% in the 4th quarter. Madison Asset Management LLC now owns 97,616 shares of the specialty chemicals company’s stock valued at $2,033,000 after acquiring an additional 555 shares during the last quarter. Wilmington Savings Fund Society FSB grew its position in Olin by 9.9% in the third quarter. Wilmington Savings Fund Society FSB now owns 6,412 shares of the specialty chemicals company’s stock worth $160,000 after acquiring an additional 579 shares in the last quarter. Finally, FORA Capital LLC grew its position in Olin by 2.6% in the second quarter. FORA Capital LLC now owns 24,453 shares of the specialty chemicals company’s stock worth $491,000 after acquiring an additional 625 shares in the last quarter. 88.67% of the stock is owned by hedge funds and other institutional investors.

Olin Company Profile

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.