Olin Corporation (OLN) has been under a strong bear grip, hence the stock is down -18.76% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 1.33% in the past 1 week. The stock has risen by 1.26% in the past week indicating that the buyers are active at lower levels, but the stock is down -16.03% in the past 4 weeks.
The stock has recorded a 20-day Moving Average of 13.8% and the 50-Day Moving Average is 11.28%. Olin Corp. has dropped 3.2% during the last 3-month period . Year-to-Date the stock performance stands at 24.05%.
Olin Corporation (NYSE:OLN): On Fridays trading session , Opening price of the stock was $21.02 with an intraday high of $21.045. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $20.58. However, the stock managed to close at $20.9, a loss of 1.23% for the day. On the previous day, the stock had closed at $21.16. The total traded volume of the day was 2,725,596 shares.
Also, Cowen & Company upgrades its rating on Olin Corporation (NYSE:OLN). Analysts at the Cowen & Company have a current rating of Outperform on the shares. The shares were previously rated Market Perform. The rating by the firm was issued on June 28, 2016.
Olin Corporation is a manufacturing company. The Company operates in three segments: Chlor Alkali Products, Chemical Distribution and Winchester. Chlor Alkali Products manufactures and sells chlorine and caustic soda, hydrochloric acid, hydrogen, bleach products and potassium hydroxide. Chemical Distribution manufactures bleach products and distributes caustic soda, bleach products, potassium hydroxide and hydrochloric acid. Winchester products segments include sporting ammunition, reloading components, small caliber military ammunition and components and industrial cartridges. The Companys subsidiary, Olin Canada ULC, operates one chlor alkali facility in Becancour, Canada, which sells chlor alkali-related products within Canada and to the United States and also sells and distributes ammunition within Canada. Its subsidiary, Winchester Australia Limited, loads and packs sporting and industrial ammunition in Australia.