Dolores J. Ennico Sells 15,000 Shares of Olin Corporation (OLN) Stock
Olin Corporation (NYSE:OLN) VP Dolores J. Ennico sold 15,000 shares of Olin Corporation stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $36.80, for a total transaction of $552,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Olin Corporation (NYSE OLN) traded down $0.73 during trading on Friday, reaching $35.47. 1,621,216 shares of the company’s stock traded hands, compared to its average volume of 1,795,188. The firm has a market capitalization of $5.96 billion, a P/E ratio of 44.17 and a beta of 1.41.
Olin Corporation (NYSE:OLN) last posted its quarterly earnings results on Monday, October 30th. The specialty chemicals company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.04). The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.58 billion. Olin Corporation had a return on equity of 6.05% and a net margin of 1.29%. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.11 earnings per share. research analysts anticipate that Olin Corporation will post 0.9 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Friday, November 10th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend is Thursday, November 9th. Olin Corporation’s dividend payout ratio is presently 177.78%.
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OLN has been the subject of a number of research analyst reports. BidaskClub raised shares of Olin Corporation from a “hold” rating to a “buy” rating in a report on Sunday, July 16th. Cowen and Company set a $39.00 price objective on shares of Olin Corporation and gave the stock a “buy” rating in a report on Friday, July 28th. Citigroup Inc. initiated coverage on shares of Olin Corporation in a report on Wednesday, September 27th. They set a “buy” rating and a $39.00 price objective for the company. SunTrust Banks, Inc. reaffirmed a “buy” rating and set a $44.00 price objective (up from $36.00) on shares of Olin Corporation in a report on Monday, October 2nd. Finally, Zacks Investment Research downgraded shares of Olin Corporation from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 4th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $36.88.
A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in Olin Corporation by 1.9% in the second quarter. Vanguard Group Inc. now owns 14,685,258 shares of the specialty chemicals company’s stock worth $444,670,000 after purchasing an additional 274,853 shares during the last quarter. Balyasny Asset Management LLC raised its stake in shares of Olin Corporation by 2.1% during the second quarter. Balyasny Asset Management LLC now owns 8,085,969 shares of the specialty chemicals company’s stock valued at $244,843,000 after acquiring an additional 165,655 shares during the last quarter. TIAA CREF Investment Management LLC raised its stake in shares of Olin Corporation by 5.1% during the second quarter. TIAA CREF Investment Management LLC now owns 8,039,915 shares of the specialty chemicals company’s stock valued at $243,449,000 after acquiring an additional 386,791 shares during the last quarter. Iridian Asset Management LLC CT raised its stake in shares of Olin Corporation by 28.0% during the second quarter. Iridian Asset Management LLC CT now owns 7,098,169 shares of the specialty chemicals company’s stock valued at $214,933,000 after acquiring an additional 1,553,430 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Olin Corporation by 2.5% during the second quarter. Bank of New York Mellon Corp now owns 3,257,411 shares of the specialty chemicals company’s stock valued at $98,635,000 after acquiring an additional 80,641 shares during the last quarter. 92.93% of the stock is owned by institutional investors and hedge funds.
Olin Corporation Company Profile
Olin Corporation is a manufacturer and distributor of chemical products, and ammunition. The Company operates through three segments: Chlor Alkali Products and Vinyls, Epoxy and Winchester. The Chlor Alkali Products and Vinyls segment manufactures and sells chlorine and caustic soda, ethylene dichloride and vinyl chloride monomer, methyl chloride, methylene chloride, chloroform, carbon tetrachloride, perchloroethylene, trichloroethylene and vinylidene chloride, hydrochloric acid, hydrogen, bleach products and potassium hydroxide.
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