Olin Corporation (OLN) VP Stephen C. Curley Sells 5,000 Shares
Olin Corporation (NYSE:OLN) VP Stephen C. Curley sold 5,000 shares of Olin Corporation stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $30.34, for a total transaction of $151,700.00. Following the sale, the vice president now owns 23,837 shares in the company, valued at $723,214.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Olin Corporation (NYSE OLN) traded down 0.10% on Thursday, hitting $30.54. The stock had a trading volume of 38,153 shares. The company has a market cap of $5.08 billion, a PE ratio of 118.83 and a beta of 1.43. Olin Corporation has a 52 week low of $18.24 and a 52 week high of $33.88. The stock’s 50-day moving average price is $30.44 and its 200 day moving average price is $30.80.
Olin Corporation (NYSE:OLN) last released its quarterly earnings data on Monday, July 31st. The specialty chemicals company reported $0.01 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.16 by $0.15. Olin Corporation had a net margin of 0.72% and a return on equity of 5.80%. The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.51 billion. During the same period in the previous year, the business earned $0.24 earnings per share. The business’s quarterly revenue was up 11.9% on a year-over-year basis. On average, analysts predict that Olin Corporation will post $1.14 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Thursday, August 10th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, August 8th. This represents a $0.80 annualized dividend and a yield of 2.62%. Olin Corporation’s payout ratio is currently 320.00%.
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Several brokerages have commented on OLN. BidaskClub upgraded shares of Olin Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday. Cowen and Company set a $39.00 price target on Olin Corporation and gave the stock a “buy” rating in a research note on Friday, July 28th. UBS AG reissued a “neutral” rating and issued a $30.00 price target (down previously from $33.00) on shares of Olin Corporation in a research note on Sunday, June 25th. Royal Bank Of Canada reissued a “buy” rating and issued a $35.00 price target on shares of Olin Corporation in a research note on Tuesday, June 20th. Finally, Tudor Pickering initiated coverage on Olin Corporation in a research note on Friday, May 12th. They set a “buy” rating and a $37.00 target price on the stock. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Olin Corporation has a consensus rating of “Hold” and an average target price of $32.75.
Hedge funds have recently added to or reduced their stakes in the company. Bollard Group LLC boosted its stake in Olin Corporation by 0.6% in the first quarter. Bollard Group LLC now owns 3,180 shares of the specialty chemicals company’s stock valued at $105,000 after buying an additional 19 shares during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. purchased a new stake in Olin Corporation during the first quarter valued at $118,000. Acrospire Investment Management LLC boosted its stake in Olin Corporation by 238.5% in the second quarter. Acrospire Investment Management LLC now owns 4,400 shares of the specialty chemicals company’s stock valued at $133,000 after buying an additional 3,100 shares during the last quarter. Meadow Creek Investment Management LLC boosted its stake in Olin Corporation by 6.9% in the first quarter. Meadow Creek Investment Management LLC now owns 4,464 shares of the specialty chemicals company’s stock valued at $147,000 after buying an additional 288 shares during the last quarter. Finally, Creative Planning boosted its stake in Olin Corporation by 130.8% in the second quarter. Creative Planning now owns 5,050 shares of the specialty chemicals company’s stock valued at $153,000 after buying an additional 2,862 shares during the last quarter. 93.02% of the stock is owned by institutional investors and hedge funds.
About Olin Corporation
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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