Olin (NYSE:OLN) Shares Pass Above 200-Day Moving Average – Should You Sell?

Olin Corporation (NYSE:OLN)’s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $24.24 and traded as high as $26.91. Olin shares last traded at $25.8310, with a volume of 2,986,838 shares changing hands.

Wall Street Analyst Weigh In

Several equities analysts recently commented on OLN shares. KeyCorp dropped their target price on Olin from $29.00 to $26.00 and set an “overweight” rating for the company in a research note on Monday, February 2nd. The Goldman Sachs Group upped their target price on Olin from $22.00 to $31.00 and gave the company a “neutral” rating in a research note on Tuesday, May 12th. Wells Fargo & Company reiterated an “overweight” rating and issued a $37.00 target price on shares of Olin in a research note on Sunday, May 10th. Royal Bank Of Canada set a $30.00 target price on Olin and gave the company a “sector perform” rating in a research note on Friday, April 10th. Finally, Morgan Stanley upped their target price on Olin from $18.00 to $22.00 and gave the company an “underweight” rating in a research note on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Olin currently has a consensus rating of “Hold” and a consensus price target of $28.08.

Olin Price Performance

The company has a market capitalization of $2.94 billion, a price-to-earnings ratio of -23.06 and a beta of 1.21. The company has a quick ratio of 0.82, a current ratio of 1.36 and a debt-to-equity ratio of 1.73. The company has a 50 day simple moving average of $27.47 and a 200 day simple moving average of $24.24.

Olin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Thursday, May 14th will be given a $0.20 dividend. The ex-dividend date of this dividend is Thursday, May 14th. This represents a $0.80 annualized dividend and a dividend yield of 3.1%. Olin’s dividend payout ratio is presently -71.43%.

Institutional Investors Weigh In On Olin

Large investors have recently modified their holdings of the stock. Choreo LLC acquired a new stake in shares of Olin in the third quarter valued at about $726,000. Thrivent Financial for Lutherans grew its stake in shares of Olin by 6.9% in the third quarter. Thrivent Financial for Lutherans now owns 1,639,624 shares of the specialty chemicals company’s stock valued at $40,974,000 after buying an additional 105,484 shares in the last quarter. Invenomic Capital Management LP acquired a new stake in shares of Olin in the third quarter valued at about $5,761,000. SG Americas Securities LLC grew its stake in shares of Olin by 142.0% in the fourth quarter. SG Americas Securities LLC now owns 455,757 shares of the specialty chemicals company’s stock valued at $9,493,000 after buying an additional 267,458 shares in the last quarter. Finally, Harbor Capital Advisors Inc. grew its stake in shares of Olin by 39.4% in the fourth quarter. Harbor Capital Advisors Inc. now owns 132,013 shares of the specialty chemicals company’s stock valued at $2,750,000 after buying an additional 37,289 shares in the last quarter. Institutional investors and hedge funds 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.