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

Shares of Olin Co. (NYSE:OLN) hit a new 52-week low on Friday . The company traded as low as $29.20 and last traded at $29.13, with a volume of 443895 shares. The stock had previously closed at $32.14.

Wall Street Analyst Weigh In

OLN has been the topic of several research reports. Piper Sandler lowered their target price on Olin from $51.00 to $41.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Citigroup lowered their target price on Olin from $48.00 to $45.00 and set a “buy” rating on the stock in a report on Monday, December 16th. Truist Financial began coverage on Olin in a research report on Tuesday. They issued a “hold” rating and a $38.00 price objective on the stock. BMO Capital Markets reduced their price objective on Olin from $50.00 to $47.00 and set a “market perform” rating on the stock in a research report on Tuesday, October 29th. Finally, Bank of America upgraded Olin from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $48.00 to $40.00 in a research note on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $46.50.

Olin Trading Down 7.5 %

The company has a market cap of $3.47 billion, a price-to-earnings ratio of 23.96, a P/E/G ratio of 0.77 and a beta of 1.48. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.40 and a quick ratio of 0.82. The firm’s fifty day moving average price is $35.99 and its 200-day moving average price is $41.36.

Olin (NYSE:OLN) last posted its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $0.09 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.10. Olin had a net margin of 2.33% and a return on equity of 6.19%. On average, equities analysts expect that Olin Co. will post 0.95 EPS for the current fiscal year.

Olin announced that its board has authorized a stock repurchase program on Thursday, December 12th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the specialty chemicals company to reacquire up to 45% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other Olin news, VP R Nichole Sumner sold 10,500 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $43.75, for a total transaction of $459,375.00. Following the sale, the vice president now owns 24,056 shares in the company, valued at approximately $1,052,450. The trade was a 30.39 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Olin

Large investors have recently made changes to their positions in the company. Farther Finance Advisors LLC boosted its position in Olin by 88.2% during the third quarter. Farther Finance Advisors LLC now owns 589 shares of the specialty chemicals company’s stock worth $28,000 after purchasing an additional 276 shares during the period. Covestor Ltd lifted its holdings in shares of Olin by 357.5% during the third quarter. Covestor Ltd now owns 915 shares of the specialty chemicals company’s stock worth $44,000 after buying an additional 715 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in shares of Olin during the third quarter worth approximately $47,000. Spire Wealth Management lifted its holdings in shares of Olin by 246.8% during the fourth quarter. Spire Wealth Management now owns 1,616 shares of the specialty chemicals company’s stock worth $55,000 after buying an additional 1,150 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Olin by 26.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,534 shares of the specialty chemicals company’s stock worth $75,000 after buying an additional 318 shares during the last quarter. Institutional investors own 88.67% of the company’s stock.

About Olin

Olin Corporation manufactures and distributes chemical products in the United States, Europe, Asia Pacific, Latin America, and Canada. It operates through three segments: Chlor Alkali Products and Vinyls; Epoxy; and Winchester. The Chlor Alkali Products and Vinyls segment offers chlorine and caustic soda, ethylene dichloride and vinyl chloride monomers, methyl chloride, methylene chloride, chloroform, carbon tetrachloride, perchloroethylene, hydrochloric acid, hydrogen, bleach products, potassium hydroxide, and chlorinated organics intermediates and solvents.