Pat D. Dawson Purchases 20,000 Shares of Olin Corp. (OLN) Stock
Olin Corp. (NYSE:OLN) insider Pat D. Dawson bought 20,000 shares of the business’s stock in a transaction on Tuesday, November 8th. The shares were acquired at an average price of $22.54 per share, with a total value of $450,800.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Olin Corp. (NYSE:OLN) opened at 24.40 on Monday. The company has a 50-day moving average price of $21.21 and a 200-day moving average price of $21.91. Olin Corp. has a 12-month low of $12.29 and a 12-month high of $26.46. The firm’s market capitalization is $4.03 billion.
Olin Corp. (NYSE:OLN) last released its quarterly earnings data on Tuesday, November 1st. The company reported $0.33 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.33. Olin Corp. had a negative net margin of 1.49% and a positive return on equity of 5.30%. The business earned $1.45 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same period in the previous year, the business earned $0.27 EPS. Olin Corp.’s revenue was up 6.5% compared to the same quarter last year. Equities analysts predict that Olin Corp. will post $1.16 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 9th. Shareholders of record on Thursday, November 10th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.28%. The ex-dividend date of this dividend is Tuesday, November 8th. Olin Corp.’s payout ratio is -160.00%.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Pacer Advisors Inc. purchased a new position in shares of Olin Corp. during the third quarter valued at approximately $374,000. Paradigm Capital Management Inc. NY increased its position in shares of Olin Corp. by 1.1% in the third quarter. Paradigm Capital Management Inc. NY now owns 25,675 shares of the company’s stock valued at $527,000 after buying an additional 275 shares during the last quarter. Howard Hughes Medical Institute increased its position in shares of Olin Corp. by 254.2% in the third quarter. Howard Hughes Medical Institute now owns 25,424 shares of the company’s stock valued at $522,000 after buying an additional 18,246 shares during the last quarter. Messner & Smith Theme Value Investment Management Ltd. CA purchased a new position in shares of Olin Corp. during the third quarter valued at approximately $1,079,000. Finally, South Dakota Investment Council increased its position in shares of Olin Corp. by 10.5% in the third quarter. South Dakota Investment Council now owns 456,500 shares of the company’s stock valued at $9,367,000 after buying an additional 43,200 shares during the last quarter. 92.85% of the stock is owned by hedge funds and other institutional investors.
OLN has been the subject of several recent analyst reports. Royal Bank Of Canada cut their target price on Olin Corp. from $28.00 to $24.00 and set an “outperform” rating for the company in a research note on Friday, July 22nd. Zacks Investment Research cut Olin Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, November 1st. Longbow Research cut Olin Corp. from a “neutral” rating to an “underperform” rating and set a $17.00 target price for the company. in a research note on Wednesday, September 7th. RBC Capital Markets restated a “buy” rating and set a $24.00 target price (down from $28.00) on shares of Olin Corp. in a research note on Friday, July 22nd. Finally, Cowen and Company cut their target price on Olin Corp. from $31.00 to $29.00 and set an “outperform” rating for the company in a research note on Friday, July 29th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $22.67.
Olin Corp. Company Profile
Olin Corporation is a manufacturer and distributor of chemical products, and ammunition. The Company operates through three segments: Chlor Alkali Products and Vinyls, Epoxy and Winchester. The Chlor Alkali Products and Vinyls segment manufactures and sells chlorine and caustic soda, ethylene dichloride and vinyl chloride monomer, methyl chloride, methylene chloride, chloroform, carbon tetrachloride, perchloroethylene, trichloroethylene and vinylidene chloride, hydrogen, bleach products and potassium hydroxide.
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