Todd Slater Sells 92,250 Shares of Olin (NYSE:OLN) Stock

Olin Corporation (NYSE:OLN) CFO Todd Slater sold 92,250 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief financial officer owned 44,291 shares of the company’s stock, valued at approximately $995,661.68. This represents a 67.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Olin Price Performance

NYSE:OLN traded down $1.88 during mid-day trading on Thursday, reaching $23.56. 1,587,888 shares of the stock were exchanged, compared to its average volume of 3,530,887. 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 business has a fifty day moving average price of $21.91 and a 200 day moving average price of $22.10. Olin Corporation has a 1-year low of $17.66 and a 1-year high of $28.77. The firm has a market capitalization of $2.69 billion, a PE ratio of -61.95, a PEG ratio of 8.09 and a beta of 1.64.

Olin (NYSE:OLN) last posted its quarterly earnings data on Thursday, January 29th. The specialty chemicals company reported ($0.58) EPS for the quarter, meeting analysts’ consensus estimates of ($0.58). Olin had a negative net margin of 0.63% and a negative return on equity of 0.47%. The company had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same period in the prior year, the firm earned $0.09 earnings per share. The business’s quarterly revenue was down .4% on a year-over-year basis. Research analysts expect that Olin Corporation will post 1.38 earnings per share for the current fiscal year.

Olin Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 12th. Investors of record on Friday, November 28th were paid a $0.20 dividend. The ex-dividend date of this dividend was Friday, November 28th. This represents a $0.80 annualized dividend and a dividend yield of 3.4%. Olin’s payout ratio is presently -210.53%.

Hedge Funds Weigh In On Olin

A number of large investors have recently bought and sold shares of the company. Strategic Advocates LLC bought a new position in Olin in the third quarter valued at $25,000. Evelyn Partners Investment Management LLP boosted its stake in shares of Olin by 6,360.0% during the 2nd quarter. Evelyn Partners Investment Management LLP now owns 1,615 shares of the specialty chemicals company’s stock worth $32,000 after buying an additional 1,590 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Olin in the 1st quarter valued at about $32,000. Bessemer Group Inc. increased its position in shares of Olin by 712.7% in the third quarter. Bessemer Group Inc. now owns 1,341 shares of the specialty chemicals company’s stock valued at $34,000 after acquiring an additional 1,176 shares during the last quarter. Finally, Allworth Financial LP raised its stake in shares of Olin by 114.0% during the 3rd quarter. Allworth Financial LP now owns 1,740 shares of the specialty chemicals company’s stock worth $43,000 after purchasing an additional 927 shares in the last quarter. Institutional investors and hedge funds own 88.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on OLN shares. Royal Bank Of Canada dropped their target price on shares of Olin from $24.00 to $21.00 and set a “sector perform” rating on the stock in a report on Monday. Morgan Stanley dropped their price objective on Olin from $20.00 to $18.00 and set an “underweight” rating on the stock in a research note on Monday. Weiss Ratings restated a “sell (d+)” rating on shares of Olin in a research note on Thursday, January 22nd. Wall Street Zen downgraded Olin from a “hold” rating to a “sell” rating in a research report on Saturday, January 10th. Finally, UBS Group set a $21.00 target price on shares of Olin in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Olin presently has a consensus rating of “Hold” and a consensus price target of $22.86.

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.