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

Olin Corporation (NYSE:OLN) CFO Todd Slater sold 92,250 shares of Olin stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $22.48, for a total transaction of $2,073,780.00. Following the completion of the transaction, the chief financial officer directly owned 44,291 shares in the company, valued at approximately $995,661.68. The trade was a 67.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Olin Stock Down 7.4%

OLN traded down $1.88 during trading on Thursday, reaching $23.56. The stock had a trading volume of 1,587,888 shares, 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 stock’s 50 day moving average is $21.91 and its two-hundred day moving average is $22.10. The company has a market capitalization of $2.69 billion, a price-to-earnings ratio of -61.95, a P/E/G ratio of 8.09 and a beta of 1.64. Olin Corporation has a one year low of $17.66 and a one year high of $28.77.

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

Olin Announces Dividend

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

Institutional Trading of Olin

Several hedge funds and other institutional investors have recently bought and sold shares of OLN. ARGA Investment Management LP boosted its holdings in Olin by 0.9% in the third quarter. ARGA Investment Management LP now owns 60,359 shares of the specialty chemicals company’s stock valued at $1,508,000 after acquiring an additional 546 shares during the last quarter. Madison Asset Management LLC raised its holdings in shares of Olin by 0.6% in the 4th quarter. Madison Asset Management LLC now owns 97,616 shares of the specialty chemicals company’s stock worth $2,033,000 after purchasing an additional 555 shares during the period. Wilmington Savings Fund Society FSB lifted its stake in shares of Olin by 9.9% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 6,412 shares of the specialty chemicals company’s stock valued at $160,000 after purchasing an additional 579 shares in the last quarter. FORA Capital LLC grew its holdings in shares of Olin by 2.6% during the 2nd quarter. FORA Capital LLC now owns 24,453 shares of the specialty chemicals company’s stock worth $491,000 after purchasing an additional 625 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al increased its position in Olin by 1.1% during the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 62,678 shares of the specialty chemicals company’s stock worth $1,566,000 after purchasing an additional 700 shares in the last quarter. 88.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on OLN. Weiss Ratings reiterated a “sell (d+)” rating on shares of Olin in a report on Thursday, January 22nd. Citigroup decreased their target price on shares of Olin from $24.00 to $21.00 and set a “neutral” rating for the company in a research report on Tuesday. Bank of America increased their target price on Olin from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, October 14th. KeyCorp reduced their price objective on Olin from $29.00 to $26.00 and set an “overweight” rating for the company in a research note on Monday. Finally, BMO Capital Markets reduced their price target on shares of Olin from $25.00 to $24.00 and set a “market perform” rating for the company in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock 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.