Olin (NYSE:OLN) Sets New 1-Year Low on Analyst Downgrade

Olin Co. (NYSE:OLN)’s share price reached a new 52-week low during 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. The stock had previously closed at $27.72.

Other equities analysts have also recently issued reports about the stock. KeyCorp decreased their target price on shares of Olin from $50.00 to $40.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Morgan Stanley lowered their price target on Olin from $31.00 to $28.00 and set an “underweight” rating on the stock in a research note on Tuesday. UBS Group cut their price objective on shares of Olin from $35.00 to $34.00 and set a “neutral” rating for the company in a report on Friday, January 31st. Citigroup cut their target price on Olin from $48.00 to $45.00 and set a “buy” rating for the company in a research note on Monday, December 16th. Finally, Bank of America upgraded Olin from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $48.00 to $40.00 in a report on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $40.94.

Insider Buying and Selling

In other news, CEO Kenneth Todd Lane acquired 7,250 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The stock was acquired at an average cost of $28.06 per share, with a total value of $203,435.00. Following the completion of the acquisition, the chief executive officer now owns 7,250 shares of the company’s stock, valued at $203,435. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Farther Finance Advisors LLC boosted its holdings in Olin by 88.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 589 shares of the specialty chemicals company’s stock valued at $28,000 after purchasing an additional 276 shares in the last quarter. Covestor Ltd grew its stake in Olin by 357.5% in the 3rd quarter. Covestor Ltd now owns 915 shares of the specialty chemicals company’s stock valued at $44,000 after acquiring an additional 715 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in shares of Olin during the 3rd quarter worth approximately $47,000. Spire Wealth Management boosted its stake 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 valued at $55,000 after acquiring an additional 1,150 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew 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 in the last quarter. Institutional investors and hedge funds own 88.67% of the company’s stock.

Olin Trading Down 0.8 %

The company has a current ratio of 1.27, a quick ratio of 0.77 and a debt-to-equity ratio of 1.32. The company has a market cap of $3.29 billion, a PE ratio of 31.37, a price-to-earnings-growth ratio of 0.69 and a beta of 1.45. The business has a 50 day simple moving average of $34.32 and a two-hundred day simple moving average of $40.55.

Olin (NYSE:OLN) last issued its earnings results 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 return on equity of 5.10% and a net margin of 1.66%. On average, analysts forecast that Olin Co. will post 2.47 EPS for the current fiscal year.

Olin declared that its board has authorized a stock buyback plan on Thursday, December 12th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the specialty chemicals company to reacquire up to 45% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management 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.