Olin (NYSE:OLN) VP Angela Castle Sells 2,379 Shares

Olin Corporation (NYSE:OLN) VP Angela Castle sold 2,379 shares of the stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $24.25, for a total value of $57,690.75. Following the completion of the sale, the vice president owned 1,528 shares of the company’s stock, valued at $37,054. The trade was a 60.89% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Olin Price Performance

Shares of Olin stock opened at $24.31 on Wednesday. The company has a market capitalization of $2.76 billion, a price-to-earnings ratio of -63.98 and a beta of 1.64. The company has a quick ratio of 0.81, a current ratio of 1.21 and a debt-to-equity ratio of 1.45. The stock’s 50-day simple moving average is $22.95 and its 200-day simple moving average is $22.60. Olin Corporation has a 52 week low of $17.66 and a 52 week high of $27.35.

Olin (NYSE:OLN) last issued its earnings results on Thursday, January 29th. The specialty chemicals company reported ($0.58) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.58). Olin had a negative return on equity of 0.48% and a negative net margin of 0.63%.The company had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter last year, the company earned $0.09 EPS. The firm’s quarterly revenue was down .4% on a year-over-year basis. As a group, analysts expect that Olin Corporation will post 1.38 earnings per share for the current fiscal year.

Olin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Tuesday, March 3rd will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Tuesday, March 3rd. Olin’s payout ratio is -210.53%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Wells Fargo & Company decreased their price target on shares of Olin from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 29th. UBS Group set a $21.00 target price on Olin in a report on Monday, February 2nd. BMO Capital Markets decreased their target price on Olin from $25.00 to $24.00 and set a “market perform” rating on the stock in a research report on Tuesday, February 3rd. Weiss Ratings restated a “sell (d+)” rating on shares of Olin in a report on Thursday, January 22nd. Finally, Mizuho upped their price objective on Olin from $22.00 to $24.00 and gave the stock a “neutral” rating in a report on Tuesday, February 17th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $23.20.

Institutional Trading of Olin

Several hedge funds and other institutional investors have recently bought and sold shares of OLN. Thrivent Financial for Lutherans lifted its holdings in shares of Olin by 6.9% in the 3rd quarter. Thrivent Financial for Lutherans now owns 1,639,624 shares of the specialty chemicals company’s stock worth $40,974,000 after acquiring an additional 105,484 shares during the last quarter. V. M. Manning & CO. Inc. purchased a new stake in Olin in the 2nd quarter worth about $989,000. Prudential Financial Inc. lifted its stake in Olin by 5,469.7% in the second quarter. Prudential Financial Inc. now owns 588,323 shares of the specialty chemicals company’s stock worth $11,819,000 after purchasing an additional 577,760 shares during the last quarter. Bayforest Capital Ltd bought a new stake in Olin in the third quarter worth about $770,000. Finally, SG Americas Securities LLC boosted its position in shares of Olin by 87.0% during the second quarter. SG Americas Securities LLC now owns 200,025 shares of the specialty chemicals company’s stock valued at $4,019,000 after buying an additional 93,033 shares during the period. Hedge funds and other institutional investors own 88.67% of the company’s stock.

About Olin

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.