Olin (NYSE:OLN) VP Angela Castle Sells 2,379 Shares

Olin Corporation (NYSE:OLN) VP Angela Castle sold 2,379 shares of the firm’s stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $24.25, for a total transaction of $57,690.75. Following the completion of the sale, the vice president owned 1,528 shares in the company, valued at approximately $37,054. The trade was a 60.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Olin Price Performance

NYSE:OLN traded up $0.81 on Tuesday, hitting $24.31. The company had a trading volume of 2,197,562 shares, compared to its average volume of 3,393,666. Olin Corporation has a 52 week low of $17.66 and a 52 week high of $27.35. 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 market capitalization of $2.77 billion, a price-to-earnings ratio of -63.98 and a beta of 1.64. The firm has a 50 day moving average of $22.88 and a two-hundred day moving average of $22.56.

Olin (NYSE:OLN) last announced its quarterly earnings results on Thursday, January 29th. The specialty chemicals company reported ($0.58) earnings per share (EPS) for the quarter, hitting 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 the consensus estimate of $1.61 billion. During the same period in the prior year, the business earned $0.09 earnings per share. The company’s revenue for the quarter was down .4% compared to the same quarter last year. On average, research analysts anticipate that Olin Corporation will post 1.38 earnings per share for the current year.

Olin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Tuesday, March 3rd will be given a $0.20 dividend. The ex-dividend date is Tuesday, March 3rd. This represents a $0.80 annualized dividend and a yield of 3.3%. Olin’s dividend payout ratio (DPR) is currently -210.53%.

Institutional Investors Weigh In On Olin

A number of hedge funds have recently added to or reduced their stakes in the business. Orbis Allan Gray Ltd boosted its holdings in shares of Olin by 448.9% during the 4th quarter. Orbis Allan Gray Ltd now owns 3,804,561 shares of the specialty chemicals company’s stock worth $79,249,000 after buying an additional 3,111,393 shares in the last quarter. Ilex Capital Partners UK LLP acquired a new position in shares of Olin during the 2nd quarter valued at $50,476,000. Millennium Management LLC lifted its position in shares of Olin by 1,063.0% during the 3rd quarter. Millennium Management LLC now owns 2,486,702 shares of the specialty chemicals company’s stock valued at $62,143,000 after acquiring an additional 2,272,877 shares during the period. Norges Bank bought a new position in Olin during the second quarter worth $27,843,000. Finally, Semper Augustus Investments Group LLC grew its holdings in Olin by 141.3% in the third quarter. Semper Augustus Investments Group LLC now owns 1,924,245 shares of the specialty chemicals company’s stock worth $48,087,000 after purchasing an additional 1,126,809 shares during the period. 88.67% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Zacks Research downgraded Olin from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 29th. Royal Bank Of Canada reduced their target price on shares of Olin from $24.00 to $21.00 and set a “sector perform” rating on the stock in a report on Monday, February 2nd. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Olin in a research note on Thursday, January 22nd. UBS Group set a $21.00 price target on shares of Olin in a report on Monday, February 2nd. Finally, Truist Financial decreased their price objective on Olin from $23.00 to $20.00 and set a “hold” rating for the company in a report on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $23.20.

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.