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Olin Corp. Message Board

  • beckross beckross May 15, 2003 3:32 PM Flag

    OLN Price

    Can someone tell me why this is down so much the past few weeks and do you think it will continue down.

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    • Olin typically drops when the overall market rises. Olin pays a healthy dividend but tends to trade in a narrow band. So people pull money out of Olin to chase faster moving stocks.

      If the market turns bearish, olin will hold up well as people will go back to chasing dividends.

      The economy is holding back the Brass division but they should be near breakeven this year. Winchester is sellng a lot of ammo and turning a decent profit.

      Chloralkali is in a strong uptrend as ECU prices have risen to over $400 compared to last year's $225 selling price. Trade magazines indicate a super year for ECU prices with only moderate pressure on volume. Production cut backs in the industry due to high natural gas prices and chlorine plant shutdowns should leave Olin in good shape this year. ECU profits should be enough to cover the dividend this year with next year even better.

      Short term target of $16/share vs next year at $25. Dividend yield is 4.7% at current stock price. Beats MM easily while waiting to catch the brass ring.

21.56-1.42(-6.18%)Jun 27 4:03 PMEDT