Key Points
- Insider sale: Olin VP Angela Castle sold 2,379 shares on Feb. 24 at an average of $24.25 for $57,690.75, reducing her holding by 60.89% to 1,528 shares (SEC filing).
- Dividend announced: Olin declared a $0.20 quarterly dividend (annualized $0.80) with an ex-dividend date of Mar. 3 and payment on Mar. 13, implying a ~3.3% yield despite a negative payout ratio of -210.53%.
- Earnings and market view: Olin reported Q EPS of -$0.58 (in line) and $1.67B revenue, and analysts carry a consensus "Hold" with an average price target of $23.20 while the stock trades near $24.31 (market cap ~$2.76B).
Olin Corporation (NYSE:OLN - Get Free Report) VP Angela Castle sold 2,379 shares of the company's stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $24.25, for a total value of $57,690.75. Following the completion of the transaction, the vice president directly owned 1,528 shares in the company, valued at $37,054. This trade represents a 60.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Olin Stock Up 3.5%
NYSE:OLN opened at $24.31 on Wednesday. The company has a market cap of $2.76 billion, a price-to-earnings ratio of -63.98 and a beta of 1.64. Olin Corporation has a twelve month low of $17.66 and a twelve month high of $27.35. The company has a current ratio of 1.21, a quick ratio of 0.81 and a debt-to-equity ratio of 1.45. The stock has a fifty day simple moving average of $22.95 and a 200-day simple moving average of $22.60.
Olin (NYSE:OLN - Get Free Report) last posted its quarterly earnings results on Thursday, January 29th. The specialty chemicals company reported ($0.58) 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 0.48%. The company had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter last year, the firm posted $0.09 EPS. The firm's revenue was down .4% compared to the same quarter last year. Analysts anticipate that Olin Corporation will post 1.38 EPS for the current year.
Olin Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Tuesday, March 3rd will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Tuesday, March 3rd. Olin's payout ratio is currently -210.53%.
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of OLN. Royal Bank of Canada boosted its stake in Olin by 20.2% in the first quarter. Royal Bank of Canada now owns 85,198 shares of the specialty chemicals company's stock valued at $2,066,000 after acquiring an additional 14,344 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Olin during the 1st quarter valued at $32,000. Jones Financial Companies Lllp boosted its position in shares of Olin by 467.9% in the 1st quarter. Jones Financial Companies Lllp now owns 13,805 shares of the specialty chemicals company's stock worth $335,000 after purchasing an additional 11,374 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Olin by 57.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 588,602 shares of the specialty chemicals company's stock worth $14,268,000 after purchasing an additional 215,235 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Olin by 6.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 317,472 shares of the specialty chemicals company's stock worth $7,696,000 after buying an additional 20,047 shares during the last quarter. Institutional investors own 88.67% of the company's stock.
Analyst Ratings Changes
A number of equities research analysts have weighed in on OLN shares. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Olin in a research report on Thursday, January 22nd. BMO Capital Markets decreased their price objective on Olin from $25.00 to $24.00 and set a "market perform" rating for the company in a report on Tuesday, February 3rd. Wells Fargo & Company lowered their price objective on shares of Olin from $25.00 to $22.00 and set an "equal weight" rating for the company in a research note on Wednesday, October 29th. Zacks Research downgraded shares of Olin from a "hold" rating to a "strong sell" rating in a research report on Thursday, January 29th. Finally, Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $26.00 price target on shares of Olin in a report on Tuesday, February 10th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $23.20.
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About Olin
(
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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.
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