Olin (NYSE:OLN) Reaches New 52-Week High – Time to Buy?

Olin Corporation (NYSE:OLN) shares hit a new 52-week high on Tuesday . The stock traded as high as $29.95 and last traded at $28.8770, with a volume of 3169899 shares. The stock had previously closed at $29.01.

Wall Street Analysts Forecast Growth

OLN has been the topic of a number of research reports. BMO Capital Markets lowered their price objective on Olin from $25.00 to $24.00 and set a “market perform” rating on the stock in a research note on Tuesday, February 3rd. UBS Group set a $21.00 target price on shares of Olin in a research note on Monday, February 2nd. Citigroup boosted their price target on shares of Olin from $21.00 to $26.00 and gave the company a “neutral” rating in a research report on Thursday, March 12th. Mizuho upped their price target on shares of Olin from $22.00 to $24.00 and gave the company a “neutral” rating in a research note on Tuesday, February 17th. Finally, Truist Financial cut their price objective on shares of Olin from $23.00 to $20.00 and set a “hold” rating for the company in a report on Monday, February 2nd. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $23.73.

Olin Stock Performance

The business’s fifty day moving average price is $24.72 and its 200-day moving average price is $23.03. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.21 and a quick ratio of 0.73. The stock has a market capitalization of $3.29 billion, a PE ratio of -75.99 and a beta of 1.56.

Olin (NYSE:OLN) last issued its quarterly earnings data on Thursday, January 29th. The specialty chemicals company reported ($0.58) EPS for the quarter, meeting the consensus estimate of ($0.58). The company had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.61 billion. Olin had a negative net margin of 0.63% and a negative return on equity of 0.48%. Olin’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.09 earnings per share. As a group, equities research analysts expect that Olin Corporation will post 1.38 EPS for the current year.

Olin Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Tuesday, March 3rd were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Tuesday, March 3rd. Olin’s payout ratio is -210.53%.

Insider Transactions at Olin

In related news, VP Angela M. Castle sold 2,379 shares of the business’s stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $24.25, for a total transaction of $57,690.75. Following the completion of the transaction, the vice president directly owned 1,528 shares in the company, valued at $37,054. The trade was a 60.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Todd A. Slater sold 92,250 shares of the company’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $22.48, for a total value of $2,073,780.00. Following the completion of the transaction, the chief financial officer owned 44,291 shares in the company, valued at $995,661.68. This represents a 67.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 99,379 shares of company stock valued at $2,238,298. 1.60% of the stock is currently owned by company insiders.

Institutional Trading of Olin

Large investors have recently modified their holdings of the business. Strategic Advocates LLC bought a new position in shares of Olin in the third quarter worth approximately $25,000. Rockefeller Capital Management L.P. raised its stake in Olin by 115.2% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,231 shares of the specialty chemicals company’s stock valued at $26,000 after purchasing an additional 659 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Olin during the first quarter valued at approximately $32,000. Bessemer Group Inc. lifted its position in Olin by 712.7% during the third quarter. Bessemer Group Inc. now owns 1,341 shares of the specialty chemicals company’s stock valued at $34,000 after purchasing an additional 1,176 shares during the last quarter. Finally, Allworth Financial LP grew its stake in Olin by 114.0% in the 3rd quarter. Allworth Financial LP now owns 1,740 shares of the specialty chemicals company’s stock worth $43,000 after buying an additional 927 shares in the last quarter. Institutional investors own 88.67% of the company’s stock.

Olin Company Profile

Olin Corporation is a diversified manufacturer specializing in chemical products and ammunition. The company’s core business activities encompass the production and distribution of chlor-alkali products, epoxy resins and derivatives, and small-caliber ammunition under the Winchester brand. Olin’s chemical operations supply chlorine, caustic soda and related co-products to a wide range of end markets, including water treatment, pulp and paper, pharmaceuticals and general industrial applications.

In its Chlor Alkali Products & Vinyls segment, Olin operates multiple manufacturing facilities that produce chlorine and sodium hydroxide, along with vinyl chloride monomer and polyvinyl chloride (PVC) compounds.