Insider Selling: Olin (NYSE:OLN) VP Sells $106,827.50 in Stock

Olin Corporation (NYSE:OLN) VP R Nichole Sumner sold 4,750 shares of the company’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $22.49, for a total value 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. This represents a 16.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Olin Price Performance

OLN stock opened at $24.88 on Friday. The firm has a 50-day moving average of $22.03 and a two-hundred day moving average of $22.15. The firm has a market capitalization of $2.84 billion, a PE ratio of -65.47 and a beta of 1.64. The company has a current ratio of 1.35, a quick ratio of 0.81 and a debt-to-equity ratio of 1.46. Olin Corporation has a one year low of $17.66 and a one year high of $28.77.

Olin (NYSE:OLN) last posted its quarterly earnings data on Thursday, January 29th. The specialty chemicals company reported ($0.58) EPS for the quarter, hitting analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $1.61 billion. During the same quarter last year, the business posted $0.09 EPS. The company’s revenue was down .4% on a year-over-year basis. On average, analysts forecast that Olin Corporation will post 1.38 earnings per share for the current year.

Olin Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 12th. Stockholders of record on Friday, November 28th were issued a $0.20 dividend. The ex-dividend date was Friday, November 28th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.2%. Olin’s dividend payout ratio is currently -210.53%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Morgan Stanley cut their target price 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. Bank of America raised their price objective on Olin from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, October 14th. Weiss Ratings reissued a “sell (d+)” rating on shares of Olin in a research report on Thursday, January 22nd. KeyCorp decreased their price objective on shares of Olin from $29.00 to $26.00 and set an “overweight” rating for the company in a report on Monday, February 2nd. Finally, Royal Bank Of Canada dropped their target price on shares of Olin from $24.00 to $21.00 and set a “sector perform” rating on the stock in a report on Monday, February 2nd. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $22.86.

Institutional Investors Weigh In On Olin

Hedge funds have recently made changes to their positions in the stock. Strategic Advocates LLC acquired a new position in Olin in the 3rd quarter valued at approximately $25,000. Evelyn Partners Investment Management LLP raised its stake in shares of 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 purchasing an additional 1,590 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Olin in the first quarter worth $32,000. Bessemer Group Inc. increased its holdings in Olin by 712.7% in the 3rd quarter. Bessemer Group Inc. now owns 1,341 shares of the specialty chemicals company’s stock valued at $34,000 after buying an additional 1,176 shares during the period. Finally, Allworth Financial LP raised its stake in shares of Olin by 114.0% in the 3rd quarter. Allworth Financial LP now owns 1,740 shares of the specialty chemicals company’s stock valued at $43,000 after buying an additional 927 shares in the last quarter. Institutional investors own 88.67% of the company’s stock.

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.