Insider Selling: John L. Mcintosh Sells 23,000 Shares of Olin Corp. Stock (OLN)
Olin Corp. (NYSE:OLN) SVP John L. Mcintosh unloaded 23,000 shares of Olin Corp. stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $25.92, for a total transaction of $596,160.00. Following the transaction, the senior vice president now directly owns 43,391 shares in the company, valued at approximately $1,124,695. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Olin Corp. (NYSE:OLN) traded up 0.06% on Friday, hitting $26.735. 645,713 shares of the company’s stock traded hands. Olin Corp. has a 52-week low of $21.79 and a 52-week high of $29.52. The stock has a 50-day moving average of $26.46 and a 200-day moving average of $26.98. The company has a market cap of $2.100 billion and a price-to-earnings ratio of 13.36.
Olin Corp. (NYSE:OLN) last posted its quarterly 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 $1.64 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, September 10th. Shareholders of record on Monday, August 11th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date of this dividend is Thursday, August 7th.
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, August 6th. They now have a $25.20 price target on the stock. Analysts at Macquarie upgraded shares of Olin Corp. from an “underperform” rating to a “neutral” rating in a research note on Friday, July 18th. One analyst has rated the stock with a sell rating and three have issued a hold rating to the stock. Olin Corp. currently has an average rating of “Hold” and a consensus target price of $26.73.
Olin Corporation is a manufacturer focused in three business segments: Chlor Alkali Products, Chemical Distribution and Winchester.
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