Olin Target of Unusually High Options Trading (NYSE:OLN)

Olin Corporation (NYSE:OLN) saw some unusual options trading on Friday. Stock investors acquired 4,140 call options on the company. This is an increase of approximately 50% compared to the typical daily volume of 2,753 call options.

Olin Trading Up 1.4%

Shares of Olin stock opened at $29.00 on Friday. Olin has a 12-month low of $17.66 and a 12-month high of $29.19. The firm has a market capitalization of $3.30 billion, a price-to-earnings ratio of -76.32 and a beta of 1.56. The firm’s 50 day simple moving average is $24.61 and its two-hundred day simple moving average is $23.03. The company has a current ratio of 1.21, a quick ratio of 0.73 and a debt-to-equity ratio of 1.45.

Olin (NYSE:OLN) last released its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $1.61 billion. Olin had a negative net margin of 0.63% and a negative return on equity of 0.48%. The business’s revenue was down .4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.09 EPS. Analysts predict that Olin will post 1.38 EPS for the current year.

Olin Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Tuesday, March 3rd were given a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, March 3rd. This represents a $0.80 dividend on an annualized basis and a yield of 2.8%. Olin’s payout ratio is presently -210.53%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Mizuho raised their target price on shares of Olin from $22.00 to $24.00 and gave the company a “neutral” rating in a research note on Tuesday, February 17th. Citigroup increased their price objective on Olin from $21.00 to $26.00 and gave the company a “neutral” rating in a report on Thursday, March 12th. Wells Fargo & Company raised their price objective on Olin from $21.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Friday, March 13th. Wall Street Zen downgraded Olin from a “hold” rating to a “sell” rating in a research note on Saturday, January 10th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Olin in a research note on Thursday, January 22nd. One 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $23.73.

Insider Activity at Olin

In other Olin news, VP Angela M. Castle sold 2,379 shares of Olin stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $24.25, for a total value of $57,690.75. Following the transaction, the vice president owned 1,528 shares in the company, valued at $37,054. The trade was a 60.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP R Nichole Sumner sold 4,750 shares of the stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $22.49, for a total transaction of $106,827.50. Following the sale, the vice president directly owned 24,771 shares of the company’s stock, valued at approximately $557,099.79. The trade was a 16.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 99,379 shares of company stock valued at $2,238,298 over the last quarter. 1.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of OLN. Covestor Ltd increased its holdings in Olin by 10.6% in the 4th quarter. Covestor Ltd now owns 5,189 shares of the specialty chemicals company’s stock valued at $108,000 after purchasing an additional 497 shares in the last quarter. ARGA Investment Management LP lifted its stake in shares of Olin by 0.9% during the third quarter. ARGA Investment Management LP now owns 60,359 shares of the specialty chemicals company’s stock worth $1,508,000 after purchasing an additional 546 shares in the last quarter. Madison Asset Management LLC lifted its stake in shares of Olin by 0.6% during the fourth 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 in the last quarter. Wilmington Savings Fund Society FSB boosted its position in shares of Olin by 9.9% in the third quarter. Wilmington Savings Fund Society FSB now owns 6,412 shares of the specialty chemicals company’s stock worth $160,000 after buying an additional 579 shares during the period. Finally, FORA Capital LLC grew its stake in shares of Olin by 2.6% in the second quarter. FORA Capital LLC now owns 24,453 shares of the specialty chemicals company’s stock valued at $491,000 after buying an additional 625 shares in the last quarter. 88.67% of the stock is currently owned by hedge funds and other institutional investors.

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.