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

Olin Corporation (NYSE:OLN) CFO Todd Slater sold 92,250 shares of Olin stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $22.48, for a total value of $2,073,780.00. Following the completion of the transaction, the chief financial officer directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Olin Stock Up 6.3%

Shares of OLN opened at $24.88 on Friday. The company’s 50-day simple moving average is $22.03 and its 200-day simple moving average is $22.14. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.81 and a current ratio of 1.35. Olin Corporation has a 1 year low of $17.66 and a 1 year high of $28.77. The stock has a market capitalization of $2.84 billion, a PE ratio of -65.47 and a beta of 1.64.

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

Olin Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 12th. Stockholders of record on Friday, November 28th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Friday, November 28th. Olin’s dividend payout ratio (DPR) is presently -210.53%.

Institutional Trading of Olin

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Strategic Advocates LLC acquired a new position in shares of Olin in the 3rd quarter valued at $25,000. Evelyn Partners Investment Management LLP boosted its stake in Olin by 6,360.0% in the second quarter. Evelyn Partners Investment Management LLP now owns 1,615 shares of the specialty chemicals company’s stock valued at $32,000 after acquiring an additional 1,590 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Olin during the first quarter worth about $32,000. Bessemer Group Inc. grew its holdings in shares of Olin by 712.7% during the third quarter. Bessemer Group Inc. now owns 1,341 shares of the specialty chemicals company’s stock worth $34,000 after purchasing an additional 1,176 shares during the last quarter. Finally, Allworth Financial LP increased its position in shares of Olin by 114.0% during the third 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.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on OLN shares. Morgan Stanley cut their price target on Olin from $20.00 to $18.00 and set an “underweight” rating on the stock in a report on Monday. Wells Fargo & Company cut their target price 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. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Olin in a report on Thursday, January 22nd. UBS Group set a $21.00 price target on shares of Olin in a report on Monday. Finally, Wall Street Zen downgraded shares of Olin from a “hold” rating to a “sell” rating in a research report on Saturday, January 10th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average 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.