Olin (NYSE:OLN) CFO Sells $2,073,780.00 in Stock

Olin Corporation (NYSE:OLN) CFO Todd Slater sold 92,250 shares of the stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $22.48, for a total value of $2,073,780.00. Following the completion of the transaction, the chief financial officer directly owned 44,291 shares of the company’s stock, valued at $995,661.68. This trade represents a 67.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Olin Trading Up 6.3%

NYSE:OLN opened at $24.88 on Friday. The stock has a market cap of $2.84 billion, a price-to-earnings ratio of -65.47 and a beta of 1.64. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.81 and a current ratio of 1.35. Olin Corporation has a 1 year low of $17.66 and a 1 year high of $28.77. The business has a fifty day moving average of $22.03 and a 200-day moving average of $22.15.

Olin (NYSE:OLN) last posted its quarterly earnings data on Thursday, January 29th. The specialty chemicals company reported ($0.58) earnings per share for the quarter, hitting the consensus estimate of ($0.58). The business had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.61 billion. Olin had a negative net margin of 0.63% and a negative return on equity of 0.47%. The company’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.09 earnings per share. Equities analysts predict that Olin Corporation will post 1.38 earnings per share for the current year.

Olin Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 12th. Investors of record on Friday, November 28th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Friday, November 28th. Olin’s dividend payout ratio (DPR) is currently -210.53%.

Institutional Investors Weigh In On Olin

A number of large investors have recently made changes to their positions in OLN. Pzena Investment Management LLC boosted its stake in Olin by 17.5% in the 4th quarter. Pzena Investment Management LLC now owns 4,507,913 shares of the specialty chemicals company’s stock worth $93,900,000 after purchasing an additional 671,250 shares during the period. Covestor Ltd boosted its position in shares of Olin by 10.6% in the fourth quarter. Covestor Ltd now owns 5,189 shares of the specialty chemicals company’s stock worth $108,000 after buying an additional 497 shares during the period. HighTower Advisors LLC boosted its position in shares of Olin by 47.7% in the fourth quarter. HighTower Advisors LLC now owns 11,869 shares of the specialty chemicals company’s stock worth $247,000 after buying an additional 3,832 shares during the period. Envestnet Portfolio Solutions Inc. raised its position in Olin by 2.5% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 29,361 shares of the specialty chemicals company’s stock valued at $612,000 after buying an additional 709 shares during the period. Finally, Gamco Investors INC. ET AL lifted its stake in Olin by 4.7% in the 4th quarter. Gamco Investors INC. ET AL now owns 178,888 shares of the specialty chemicals company’s stock worth $3,726,000 after acquiring an additional 7,964 shares in the last quarter. Institutional investors and hedge funds own 88.67% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on OLN shares. Citigroup decreased their price target on Olin from $24.00 to $21.00 and set a “neutral” rating for the company in a research note on Tuesday, February 3rd. Mizuho set a $22.00 target price on Olin in a research note on Friday, January 30th. KeyCorp lowered their target price on Olin from $29.00 to $26.00 and set an “overweight” rating on the stock in a report on Monday, February 2nd. Weiss Ratings reissued a “sell (d+)” rating on shares of Olin in a report on Thursday, January 22nd. Finally, Morgan Stanley lowered their price objective on shares of Olin from $20.00 to $18.00 and set an “underweight” rating on the stock in a research note on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $22.86.

Olin Company Profile

Olin Corporation is a diversified manufacturer specializing in chemical products and ammunition. The company’s core business activities encompass the production and distribution of chlor-alkali products, epoxy resins and derivatives, and small-caliber ammunition under the Winchester brand. Olin’s chemical operations supply chlorine, caustic soda and related co-products to a wide range of end markets, including water treatment, pulp and paper, pharmaceuticals and general industrial applications.

In its Chlor Alkali Products & Vinyls segment, Olin operates multiple manufacturing facilities that produce chlorine and sodium hydroxide, along with vinyl chloride monomer and polyvinyl chloride (PVC) compounds.