Olin Co. (NYSE:OLN) EVP John L. Mcintosh sold 9,500 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $35.42, for a total value of $336,490.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Olin Co. (NYSE OLN) traded down $0.40 during mid-day trading on Monday, reaching $34.58. The company’s stock had a trading volume of 1,865,892 shares, compared to its average volume of 2,109,951. The company has a quick ratio of 1.03, a current ratio of 1.72 and a debt-to-equity ratio of 1.59. The firm has a market cap of $5,822.31, a price-to-earnings ratio of 43.19, a P/E/G ratio of 3.89 and a beta of 1.39. Olin Co. has a 52 week low of $24.93 and a 52 week high of $37.52.
Olin (NYSE:OLN) last posted its quarterly earnings results on Monday, October 30th. The specialty chemicals company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.04). Olin had a net margin of 1.29% and a return on equity of 6.05%. The company had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same period in the prior year, the business earned $0.11 EPS. Olin’s revenue for the quarter was up 7.0% on a year-over-year basis. equities analysts anticipate that Olin Co. will post 0.93 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Friday, November 10th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.31%. The ex-dividend date of this dividend is Thursday, November 9th. Olin’s dividend payout ratio (DPR) is presently 177.78%.
Several hedge funds and other institutional investors have recently modified their holdings of the company. World Asset Management Inc raised its position in shares of Olin by 2.3% during the 2nd quarter. World Asset Management Inc now owns 10,353 shares of the specialty chemicals company’s stock worth $313,000 after acquiring an additional 228 shares in the last quarter. Teacher Retirement System of Texas raised its position in shares of Olin by 3.5% during the 2nd quarter. Teacher Retirement System of Texas now owns 13,355 shares of the specialty chemicals company’s stock worth $404,000 after acquiring an additional 453 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Olin by 9.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,126 shares of the specialty chemicals company’s stock worth $185,000 after acquiring an additional 544 shares in the last quarter. Comerica Securities Inc. raised its position in shares of Olin by 0.6% during the 2nd quarter. Comerica Securities Inc. now owns 99,523 shares of the specialty chemicals company’s stock worth $3,014,000 after acquiring an additional 561 shares in the last quarter. Finally, Capstone Asset Management Co. raised its position in shares of Olin by 5.7% during the 2nd quarter. Capstone Asset Management Co. now owns 12,515 shares of the specialty chemicals company’s stock worth $379,000 after acquiring an additional 680 shares in the last quarter. 89.70% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts recently commented on OLN shares. Zacks Investment Research upgraded Olin from a “sell” rating to a “hold” rating in a report on Tuesday, October 17th. SunTrust Banks restated a “buy” rating and set a $46.00 target price on shares of Olin in a report on Monday, November 6th. Cowen restated an “outperform” rating and set a $42.00 target price (up from $39.00) on shares of Olin in a report on Tuesday, October 10th. TheStreet raised Olin from a “c+” rating to a “b” rating in a research report on Tuesday, October 31st. Finally, Citigroup started coverage on Olin in a research report on Wednesday, September 27th. They issued a “buy” rating and a $39.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Olin has an average rating of “Buy” and an average target price of $37.13.
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Olin 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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