Olin (NYSE:OLN) Hits New 12-Month Low at $16.09
Olin Co. (NYSE:OLN)’s share price hit a new 52-week low during trading on Thursday . The stock traded as low as $16.09 and last traded at $16.11, with a volume of 33199 shares trading hands. The stock had previously closed at $16.33.
Several brokerages recently commented on OLN. Bank of America restated a “buy” rating and set a $22.00 target price (down previously from $29.00) on shares of Olin in a research report on Friday, August 16th. ValuEngine upgraded Olin from a “strong sell” rating to a “sell” rating in a report on Friday, May 10th. Cowen reiterated an “outperform” rating and issued a $27.00 price target (down previously from $31.00) on shares of Olin in a report on Monday, May 6th. Morgan Stanley lowered Olin from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $33.00 to $23.00 in a report on Friday, July 19th. Finally, Barclays reiterated a “hold” rating and issued a $22.00 price target on shares of Olin in a report on Sunday, August 4th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $26.17.
The firm has a fifty day simple moving average of $19.67 and a 200-day simple moving average of $22.28. The firm has a market cap of $2.75 billion, a P/E ratio of 9.37, a price-to-earnings-growth ratio of 0.89 and a beta of 1.54. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.64 and a quick ratio of 0.98.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 4.91%. The ex-dividend date is Thursday, August 8th. Olin’s dividend payout ratio (DPR) is presently 45.71%.
In related news, Director Vince J. Smith acquired 5,000 shares of the stock in a transaction dated Monday, August 12th. The stock was purchased at an average cost of $17.00 per share, with a total value of $85,000.00. Following the completion of the purchase, the director now directly owns 37,304 shares in the company, valued at approximately $634,168. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last three months, insiders bought 6,080 shares of company stock valued at $104,430. Company insiders own 1.90% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Prudential PLC increased its position in Olin by 10.0% in the second quarter. Prudential PLC now owns 536,300 shares of the specialty chemicals company’s stock worth $11,750,000 after buying an additional 48,600 shares during the last quarter. Royal Bank of Canada increased its position in Olin by 1.7% in the second quarter. Royal Bank of Canada now owns 1,401,156 shares of the specialty chemicals company’s stock worth $30,699,000 after buying an additional 23,960 shares during the last quarter. WealthStone Inc. purchased a new stake in Olin in the second quarter worth $419,000. Ladenburg Thalmann Financial Services Inc. increased its position in Olin by 140.2% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 23,991 shares of the specialty chemicals company’s stock worth $525,000 after buying an additional 14,004 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. increased its position in Olin by 53.3% in the second quarter. Amundi Pioneer Asset Management Inc. now owns 11,642 shares of the specialty chemicals company’s stock worth $255,000 after buying an additional 4,049 shares during the last quarter. 90.39% of the stock is owned by hedge funds and other institutional investors.
About Olin (NYSE:OLN)
Olin Corporation manufactures and distributes chemical products in the United States and internationally. 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, trichloroethylene and vinylidene chloride, hydrochloric acid, hydrogen, bleach products, potassium hydroxide, chlorinated organics intermediates and solvents, and sodium hypochlorite.The Epoxy segment provides allyl chloride and epichlorohydrin, as well as acetone, bisphenol, cumene, and phenol for use in resins and other plastic materials, water purification, and pesticides, as well as for the manufacturers of polymers; liquid and solid epoxy resins that are used in adhesives, paints and coatings, composites, and flooring; and differentiated epoxy resins for use in electrical laminates, paints and coatings, wind blades, electronics, and construction, as well as offers additives.
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