Insider Selling: Olin (NYSE:OLN) VP Sells 4,750 Shares of Stock

Olin Corporation (NYSE:OLN) VP R Nichole Sumner sold 4,750 shares of Olin stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $22.49, for a total transaction of $106,827.50. Following the sale, the vice president directly owned 24,771 shares in the company, valued at approximately $557,099.79. This trade represents a 16.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Olin Trading Down 7.0%

NYSE OLN traded down $1.79 during trading hours on Thursday, reaching $23.65. The company had a trading volume of 2,071,195 shares, compared to its average volume of 3,550,787. Olin Corporation has a 1-year low of $17.66 and a 1-year high of $28.77. The company has a current ratio of 1.35, a quick ratio of 0.81 and a debt-to-equity ratio of 1.46. The stock has a 50-day moving average of $21.91 and a 200 day moving average of $22.10. The stock has a market capitalization of $2.70 billion, a P/E ratio of -62.42, a price-to-earnings-growth ratio of 8.09 and a beta of 1.64.

Olin (NYSE:OLN) last issued its quarterly earnings results on Thursday, January 29th. The specialty chemicals company reported ($0.58) EPS for the quarter, meeting the consensus estimate of ($0.58). Olin had a negative net margin of 0.63% and a negative return on equity of 0.47%. The company had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter last year, the company posted $0.09 EPS. The firm’s revenue was down .4% compared to the same quarter last year. As a group, research analysts anticipate that Olin Corporation will post 1.38 earnings per share for the current fiscal year.

Olin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 12th. Investors of record on Friday, November 28th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend was Friday, November 28th. Olin’s dividend payout ratio is currently -210.53%.

Analyst Ratings Changes

OLN has been the subject of a number of research analyst reports. Morgan Stanley dropped their price target on Olin from $20.00 to $18.00 and set an “underweight” rating for the company in a research report on Monday. BMO Capital Markets cut their price objective on shares of Olin from $25.00 to $24.00 and set a “market perform” rating on the stock in a report on Tuesday. Truist Financial dropped their price target on Olin from $23.00 to $20.00 and set a “hold” rating on the stock in a research report on Monday. Citigroup cut their target price on shares of Olin from $24.00 to $21.00 and set a “neutral” rating on the stock in a report on Tuesday. Finally, Mizuho set a $22.00 target price on Olin in a research note on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, Olin currently has an average rating of “Hold” and a consensus target price of $22.86.

Institutional Investors Weigh In On Olin

A number of institutional investors have recently modified their holdings of OLN. Hotchkis & Wiley Capital Management LLC raised its position in Olin by 5.5% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 12,690,488 shares of the specialty chemicals company’s stock valued at $317,135,000 after acquiring an additional 661,730 shares in the last quarter. State Street Corp raised its position in shares of Olin by 1.1% in the second quarter. State Street Corp now owns 4,830,406 shares of the specialty chemicals company’s stock valued at $97,043,000 after purchasing an additional 50,309 shares during the period. Yacktman Asset Management LP lifted its stake in shares of Olin by 1.0% in the second quarter. Yacktman Asset Management LP now owns 4,060,376 shares of the specialty chemicals company’s stock worth $81,573,000 after buying an additional 40,133 shares during the last quarter. Pzena Investment Management LLC boosted its holdings in shares of Olin by 4.5% during the 2nd quarter. Pzena Investment Management LLC now owns 3,829,021 shares of the specialty chemicals company’s stock worth $76,925,000 after buying an additional 166,482 shares during the period. Finally, Ilex Capital Partners UK LLP bought a new stake in Olin during the second quarter valued at about $50,476,000. Institutional investors and hedge funds own 88.67% of the company’s stock.

About Olin

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.