Olin (NYSE:OLN) Trading Down 7% – Time to Sell?

by · The Cerbat Gem

Olin Corporation (NYSE:OLNGet Free Report)’s share price fell 7% during trading on Tuesday . The company traded as low as $23.67 and last traded at $24.0580. 1,289,548 shares traded hands during mid-day trading, a decline of 63% from the average session volume of 3,465,369 shares. The stock had previously closed at $25.88.

Analyst Ratings Changes

OLN has been the topic of a number of recent research reports. Weiss Ratings reissued a “sell (d+)” rating on shares of Olin in a research report on Thursday, January 22nd. BMO Capital Markets lowered their price objective on shares of Olin from $25.00 to $24.00 and set a “market perform” rating on the stock in a report on Tuesday, February 3rd. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $26.00 target price on shares of Olin in a report on Tuesday, February 10th. Truist Financial lowered their price target on shares of Olin from $23.00 to $20.00 and set a “hold” rating on the stock in a research note on Monday, February 2nd. Finally, KeyCorp cut their price target on shares of Olin from $29.00 to $26.00 and set an “overweight” rating on the stock in a research report on Monday, February 2nd. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Olin presently has a consensus rating of “Hold” and an average target price of $23.20.

Get Our Latest Stock Report on OLN

Olin Stock Down 7.9%

The company has a current ratio of 1.35, a quick ratio of 0.81 and a debt-to-equity ratio of 1.46. The firm’s 50 day moving average price is $22.62 and its two-hundred day moving average price is $22.37. The company has a market capitalization of $2.72 billion, a price-to-earnings ratio of -62.74 and a beta of 1.64.

Olin (NYSE:OLNGet Free Report) last posted its quarterly earnings results on Thursday, January 29th. The specialty chemicals company reported ($0.58) EPS for the quarter, hitting analysts’ consensus estimates of ($0.58). The business had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.61 billion. Olin had a negative return on equity of 0.47% and a negative net margin of 0.63%.Olin’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter last year, the company posted $0.09 earnings per share. Sell-side analysts anticipate that Olin Corporation will post 1.38 earnings per share for the current fiscal year.

Insider Activity at Olin

In other news, VP Teresa M. Vermillion sold 4,500 shares of the firm’s stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $20.86, for a total transaction of $93,870.00. Following the completion of the sale, the vice president owned 17,199 shares in the company, valued at approximately $358,771.14. This trade represents a 20.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Todd A. Slater sold 92,250 shares of Olin stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $22.48, for a total transaction of $2,073,780.00. Following the sale, the chief financial officer directly owned 44,291 shares of the company’s stock, valued at $995,661.68. The trade was a 67.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 101,500 shares of company stock worth $2,274,478. Company insiders own 1.70% of the company’s stock.

Institutional Trading of Olin

A number of institutional investors have recently bought and sold shares of the business. Covestor Ltd increased its holdings in shares of Olin by 10.6% during the fourth quarter. Covestor Ltd now owns 5,189 shares of the specialty chemicals company’s stock worth $108,000 after purchasing an additional 497 shares during the period. ARGA Investment Management LP grew its holdings in shares of Olin by 0.9% during the 3rd quarter. ARGA Investment Management LP now owns 60,359 shares of the specialty chemicals company’s stock worth $1,508,000 after purchasing an additional 546 shares in the last quarter. Madison Asset Management LLC raised its stake in Olin by 0.6% in the fourth quarter. Madison Asset Management LLC now owns 97,616 shares of the specialty chemicals company’s stock valued at $2,033,000 after purchasing an additional 555 shares in the last quarter. Wilmington Savings Fund Society FSB lifted its position in Olin by 9.9% during the third quarter. Wilmington Savings Fund Society FSB now owns 6,412 shares of the specialty chemicals company’s stock worth $160,000 after purchasing an additional 579 shares during the period. Finally, FORA Capital LLC grew its stake in Olin by 2.6% during the second quarter. FORA Capital LLC now owns 24,453 shares of the specialty chemicals company’s stock worth $491,000 after buying an additional 625 shares in the last quarter. Institutional investors own 88.67% of the company’s stock.

About Olin

(Get Free Report)

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.

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