Olin (NYSE:OLN) Sets New 12-Month Low – Should You Sell?

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

Analyst Ratings Changes

Several brokerages recently weighed in on OLN. Bank of America downgraded Olin from a “buy” rating to an “underperform” rating and decreased their price target for the stock from $32.00 to $21.00 in a report on Tuesday, June 30th. The Goldman Sachs Group set a $18.00 price objective on shares of Olin in a research report on Wednesday, September 30th. JPMorgan Chase & Co. lowered their target price on shares of Olin from $26.00 to $25.00 and set a “neutral” rating on the stock in a report on Thursday, June 18th. Wells Fargo & Company dropped their price target on shares of Olin from $20.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 1st. Finally, BMO Capital Markets cut their price target on shares of Olin from $30.00 to $25.00 and set a “market perform” rating for the company in a report on Monday, July 6th. One equities research analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $20.92.

Olin Price Performance

The company has a 50-day simple moving average of $17.43 and a 200-day simple moving average of $22.41. The stock has a market cap of $1.70 billion, a PE ratio of -12.12 and a beta of 1.23. 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 issued its 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). The company had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.81 billion. Olin had a negative return on equity of 4.76% and a negative net margin of 2.08%.Olin’s revenue for the quarter was down .9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.01) earnings per share. Sell-side analysts anticipate that Olin Corporation will post -0.68 EPS for the current fiscal year.

Olin Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 11th. Investors 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 annualized dividend and a dividend yield of 5.4%. Olin’s dividend payout ratio (DPR) is -65.04%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Values First Advisors Inc. raised its stake in shares of Olin by 3.4% during the first quarter. Values First Advisors Inc. now owns 12,909 shares of the specialty chemicals company’s stock valued at $384,000 after purchasing an additional 425 shares during the period. Oregon Public Employees Retirement Fund grew its holdings in Olin by 2.2% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 23,302 shares of the specialty chemicals company’s stock valued at $693,000 after purchasing an additional 500 shares in the last quarter. First Citizens Bank & Trust Co. lifted its holdings in Olin by 2.0% in the 1st quarter. First Citizens Bank & Trust Co. now owns 31,230 shares of the specialty chemicals company’s stock worth $928,000 after buying an additional 609 shares in the last quarter. Rockefeller Capital Management L.P. boosted its position in Olin by 115.2% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,231 shares of the specialty chemicals company’s stock valued at $26,000 after buying an additional 659 shares during the last quarter. Finally, ARGA Investment Management LP grew its stake in shares of Olin by 2.5% during the first quarter. ARGA Investment Management LP now owns 61,315 shares of the specialty chemicals company’s stock valued at $1,823,000 after acquiring an additional 1,502 shares in the last quarter. 88.67% of the stock is currently owned by institutional investors and hedge funds.

About Olin

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.