Olin Corp. SVP Unloads $596,160 in Stock (OLN)
Olin Corp. (NYSE:OLN) SVP John L. Mcintosh unloaded 23,000 shares of Olin Corp. stock on the open market in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $25.92, for a total value of $596,160.00. Following the transaction, the senior vice president now directly owns 43,391 shares of the company’s stock, valued at approximately $1,124,695. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of Olin Corp. (NYSE:OLN) traded up 0.49% on Friday, hitting $26.85. 916,625 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 $2.109 billion and a P/E ratio of 13.36.
Olin Corp. (NYSE:OLN) last announced its earnings results on Thursday, July 24th. The company reported $0.46 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.54 earnings per share. Olin Corp.’s revenue was down 12.5% compared to the same quarter last year. On average, analysts predict that Olin Corp. will post $1.64 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, September 10th. Shareholders 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 2.98%. The ex-dividend date 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 investment analyst has rated the stock with a sell rating and three have given a hold rating to the company’s stock. Olin Corp. currently has a consensus rating of “Hold” and an average price target of $26.73.
Olin Corporation is a manufacturer focused in three business segments: Chlor Alkali Products, Chemical Distribution and Winchester.
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