Olin (NYSE:OLN) Reaches New 1-Year Low After Analyst Downgrade

Shares of Olin Co. (NYSE:OLN) reached a new 52-week low during mid-day trading on Thursday after BMO Capital Markets lowered their price target on the stock from $44.00 to $34.00. BMO Capital Markets currently has a market perform rating on the stock. Olin traded as low as $26.48 and last traded at $26.67, with a volume of 2845790 shares trading hands. The stock had previously closed at $27.72.

Several other analysts have also recently commented on OLN. Truist Financial lowered their target price on shares of Olin from $38.00 to $32.00 and set a “hold” rating for the company in a research note on Monday. Piper Sandler dropped their target price on Olin from $51.00 to $41.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. KeyCorp decreased their price target on Olin from $50.00 to $40.00 and set an “overweight” rating on the stock in a research note on Monday. UBS Group dropped their price objective on shares of Olin from $35.00 to $34.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. Finally, Morgan Stanley decreased their target price on shares of Olin from $31.00 to $28.00 and set an “underweight” rating on the stock in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $40.94.

Insider Activity at Olin

In other Olin news, VP R Nichole Sumner sold 10,500 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $43.75, for a total value of $459,375.00. Following the sale, the vice president now owns 24,056 shares in the company, valued at approximately $1,052,450. This trade represents a 30.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Hotchkis & Wiley Capital Management LLC boosted its position in shares of Olin by 6.4% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 8,838,988 shares of the specialty chemicals company’s stock valued at $424,095,000 after purchasing an additional 531,330 shares in the last quarter. Pzena Investment Management LLC grew its position in Olin by 24.8% in the third quarter. Pzena Investment Management LLC now owns 3,452,708 shares of the specialty chemicals company’s stock worth $165,661,000 after buying an additional 685,710 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Olin by 8.1% during the 4th quarter. Bank of New York Mellon Corp now owns 1,305,521 shares of the specialty chemicals company’s stock valued at $44,127,000 after acquiring an additional 97,980 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Olin by 2.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,295,699 shares of the specialty chemicals company’s stock worth $62,168,000 after acquiring an additional 37,043 shares in the last quarter. Finally, Franklin Resources Inc. grew its holdings in shares of Olin by 19.2% in the 3rd quarter. Franklin Resources Inc. now owns 1,073,087 shares of the specialty chemicals company’s stock worth $51,015,000 after acquiring an additional 172,768 shares during the last quarter. Institutional investors and hedge funds own 88.67% of the company’s stock.

Olin Stock Down 3.8 %

The company has a quick ratio of 0.77, a current ratio of 1.27 and a debt-to-equity ratio of 1.32. The company has a market capitalization of $3.11 billion, a price-to-earnings ratio of 29.63, a price-to-earnings-growth ratio of 0.69 and a beta of 1.45. The business has a 50-day moving average price of $34.92 and a 200-day moving average price of $40.73.

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 1.66% and a return on equity of 5.10%. As a group, equities analysts anticipate that Olin Co. will post 2.47 earnings per share for the current fiscal year.

Olin declared that its board has approved a share buyback plan on Thursday, December 12th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the specialty chemicals company to reacquire up to 45% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Olin Company Profile

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.