Olin Corp. VP Stephen C. Curley Sells 6,000 Shares (OLN)
Olin Corp. (NYSE:OLN) VP Stephen C. Curley sold 6,000 shares of the company’s stock on the open market in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $26.56, for a total transaction of $159,360.00. Following the completion of the sale, the vice president now directly owns 13,420 shares in the company, valued at approximately $356,435. The sale was disclosed in a document filed with the SEC, which is available at this link.
A number of analysts have recently weighed in on OLN shares. Analysts at Zacks downgraded shares of Olin Corp. from a “neutral” rating to an “underperform” rating in a research note on Wednesday. They now have a $25.20 price target on the stock. Separately, analysts at Macquarie upgraded shares of Olin Corp. from an “underperform” rating to a “neutral” rating in a research note on Friday, July 18th. Finally, analysts at Cowen and Company raised their price target on shares of Olin Corp. from $24.00 to $27.00 in a research note on Thursday, May 15th. They now have a “market perform” rating on the stock. One investment analyst has rated the stock with a sell rating and three have issued a hold rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $26.73.
Shares of Olin Corp. (NYSE:OLN) traded up 0.73% on Friday, hitting $26.17. The stock had a trading volume of 213,845 shares. Olin Corp. has a 1-year low of $21.79 and a 1-year high of $29.52. The stock’s 50-day moving average is $26.62 and its 200-day moving average is $27.03. The company has a market cap of $2.056 billion and a price-to-earnings ratio of 12.99.
Olin Corp. (NYSE:OLN) last announced its earnings results on Thursday, July 24th. The company reported $0.46 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.45 by $0.01. The company had revenue of $570.40 million for the quarter, compared to the consensus estimate of $639.52 million. During the same quarter in the prior year, the company posted $0.54 earnings per share. The company’s quarterly revenue was down 12.5% on a year-over-year basis. On average, analysts predict that Olin Corp. will post $1.66 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, September 10th. Investors of record on Monday, August 11th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.08%. The ex-dividend date is Thursday, August 7th.
Olin Corporation is a manufacturer focused in three business segments: Chlor Alkali Products, Chemical Distribution and Winchester.
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