John E. Fischer Sells 37,583 Shares of Olin Corporation (OLN) Stock
Olin Corporation (NYSE:OLN) Chairman John E. Fischer sold 37,583 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $36.80, for a total value of $1,383,054.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link.
Olin Corporation (OLN) traded down $0.73 on Friday, reaching $35.47. The company had a trading volume of 1,621,216 shares, compared to its average volume of 1,795,188. The stock has a market cap of $5,955.47, a price-to-earnings ratio of 44.17 and a beta of 1.41.
Olin Corporation (NYSE:OLN) last released its quarterly earnings data on Monday, October 30th. The specialty chemicals company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.04). The business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.58 billion. Olin Corporation had a net margin of 1.29% and a return on equity of 6.05%. The company’s revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.11 earnings per share. analysts predict that Olin Corporation will post 0.9 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Friday, November 10th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date is Thursday, November 9th. Olin Corporation’s payout ratio is 177.78%.
OLN has been the topic of several recent research reports. BidaskClub cut Olin Corporation from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Cowen and Company restated an “outperform” rating and set a $42.00 target price (up from $39.00) on shares of Olin Corporation in a report on Tuesday, October 10th. Zacks Investment Research upgraded Olin Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, October 17th. TheStreet upgraded Olin Corporation from a “c+” rating to a “b” rating in a report on Tuesday. Finally, Citigroup Inc. began coverage on Olin Corporation in a report on Wednesday, September 27th. They set a “buy” rating and a $39.00 target price on the stock. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Olin Corporation currently has a consensus rating of “Buy” and a consensus target price of $36.88.
A number of hedge funds and other institutional investors have recently made changes to their positions in OLN. Thrivent Financial For Lutherans raised its position in Olin Corporation by 9.4% in the first quarter. Thrivent Financial For Lutherans now owns 30,970 shares of the specialty chemicals company’s stock valued at $1,018,000 after purchasing an additional 2,660 shares during the period. Renaissance Technologies LLC purchased a new stake in Olin Corporation in the first quarter valued at approximately $805,000. AQR Capital Management LLC purchased a new stake in Olin Corporation in the first quarter valued at approximately $1,652,000. HighTower Advisors LLC raised its position in Olin Corporation by 30.6% in the first quarter. HighTower Advisors LLC now owns 10,536 shares of the specialty chemicals company’s stock valued at $350,000 after purchasing an additional 2,466 shares during the period. Finally, Driehaus Capital Management LLC purchased a new stake in Olin Corporation in the first quarter valued at approximately $914,000. 92.93% of the stock is currently owned by institutional investors.
About Olin Corporation
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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