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

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

Olin Trading Down 1.1%

Shares of OLN stock opened at $24.02 on Thursday. The business has a 50-day moving average price of $23.03 and a two-hundred day moving average price of $22.61. Olin Corporation has a 12-month low of $17.66 and a 12-month high of $27.35. 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 firm has a market cap of $2.73 billion, a P/E ratio of -63.22 and a beta of 1.64.

Olin (NYSE:OLN) last released its earnings results on Thursday, January 29th. The specialty chemicals company reported ($0.58) earnings per share for the quarter, hitting analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter in the previous year, the company posted $0.09 EPS. Olin’s quarterly revenue was down .4% compared to the same quarter last year. Equities analysts anticipate that Olin Corporation will post 1.38 EPS for the current fiscal year.

Olin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Tuesday, March 3rd will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Tuesday, March 3rd. Olin’s dividend payout ratio (DPR) is presently -210.53%.

Institutional Investors Weigh In On Olin

Large investors have recently modified their holdings of the stock. Thrivent Financial for Lutherans increased its position in shares of Olin by 6.9% during the third quarter. Thrivent Financial for Lutherans now owns 1,639,624 shares of the specialty chemicals company’s stock valued at $40,974,000 after acquiring an additional 105,484 shares in the last quarter. V. M. Manning & CO. Inc. purchased a new stake in Olin during the 2nd quarter valued at $989,000. Prudential Financial Inc. increased its holdings in shares of Olin by 5,469.7% in the 2nd 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 in the last quarter. Bayforest Capital Ltd purchased a new position in shares of Olin in the third quarter worth $770,000. Finally, SG Americas Securities LLC lifted its holdings 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 purchasing an additional 93,033 shares in the last quarter. Institutional investors own 88.67% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on OLN. Mizuho lifted 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. Royal Bank Of Canada decreased their price target on Olin from $24.00 to $21.00 and set a “sector perform” rating on the stock in a research note on Monday, February 2nd. Wells Fargo & Company dropped their price objective on Olin from $25.00 to $22.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 29th. Zacks Research downgraded shares of Olin from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 29th. Finally, Morgan Stanley dropped their price target on shares of Olin from $20.00 to $18.00 and set an “underweight” rating for the company in a research report on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating, two have given 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, the stock currently has a consensus rating of “Hold” and an average target price of $23.20.

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.