Olin Corp. (OLN) Sees Large Volume Increase
Olin Corp. (NYSE:OLN) shares saw unusually-high trading volume on Monday . Approximately 1,995,102 shares traded hands during trading, a decline of 14% from the previous session’s volume of 2,313,698 shares.The stock last traded at $21.90 and had previously closed at $21.46.
OLN has been the subject of a number of analyst reports. Royal Bank Of Canada reiterated a “buy” rating and set a $25.00 target price (up previously from $22.00) on shares of Olin Corp. in a research note on Monday, May 2nd. Zacks Investment Research upgraded shares of Olin Corp. from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research note on Tuesday, May 10th. Nomura reiterated a “buy” rating on shares of Olin Corp. in a research note on Tuesday, July 12th. Cowen and Company lowered their target price on shares of Olin Corp. from $31.00 to $29.00 and set an “outperform” rating for the company in a research note on Friday, July 29th. Finally, RBC Capital Markets reiterated a “buy” rating and set a $24.00 target price (down previously from $28.00) on shares of Olin Corp. in a research note on Friday, July 22nd. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $23.88.
The firm has a 50 day moving average of $22.18 and a 200 day moving average of $20.44. The firm’s market capitalization is $3.61 billion.
Olin Corp. (NYSE:OLN) last released its earnings results on Tuesday, August 2nd. The company reported $0.24 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by $0.07. During the same period in the prior year, the firm earned $0.32 earnings per share. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.47 billion. The business’s revenue was up 154.8% on a year-over-year basis. Analysts expect that Olin Corp. will post $1.15 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 9th. Stockholders of record on Wednesday, August 10th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.66%. The ex-dividend date is Monday, August 8th.
In other news, EVP John L. Mcintosh sold 10,000 shares of the business’s stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $21.59, for a total value of $215,900.00. Following the completion of the sale, the executive vice president now owns 60,391 shares of the company’s stock, valued at approximately $1,303,841.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
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, hydrogen, bleach products and potassium hydroxide.
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