Olin (NYSE:OLN) Announces Earnings Results

Olin (NYSE:OLN - Get Free Report) posted its quarterly earnings results on Friday. The specialty chemicals company reported $0.40 EPS for the quarter, topping analysts' consensus estimates of $0.38 by $0.02, Briefing.com reports. Olin had a return on equity of 14.47% and a net margin of 5.32%. The firm had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same period last year, the company earned $1.16 earnings per share. The business's revenue for the quarter was down 11.3% on a year-over-year basis.

Olin Price Performance

Shares of Olin stock traded up $0.06 on Monday, hitting $53.54. 1,378,119 shares of the company were exchanged, compared to its average volume of 1,033,109. The company has a quick ratio of 0.80, a current ratio of 1.38 and a debt-to-equity ratio of 1.22. The company has a 50-day moving average price of $55.63 and a 200 day moving average price of $51.67. The stock has a market capitalization of $6.41 billion, a price-to-earnings ratio of 19.25, a price-to-earnings-growth ratio of 0.29 and a beta of 1.44. Olin has a 1-year low of $41.71 and a 1-year high of $60.60.

Olin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Thursday, May 9th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.49%. The ex-dividend date is Wednesday, May 8th. Olin's dividend payout ratio is currently 28.78%.

Wall Street Analyst Weigh In

OLN has been the topic of several research analyst reports. Stifel Nicolaus increased their price objective on Olin from $68.00 to $69.00 and gave the stock a "buy" rating in a research report on Monday. Piper Sandler lifted their price target on Olin from $72.00 to $75.00 and gave the company an "overweight" rating in a research report on Monday. Citigroup lifted their target price on shares of Olin from $63.00 to $67.00 and gave the company a "buy" rating in a research report on Wednesday, April 10th. KeyCorp decreased their price target on shares of Olin from $78.00 to $73.00 and set an "overweight" rating on the stock in a report on Monday. Finally, Bank of America dropped their price objective on shares of Olin from $74.00 to $72.00 and set a "buy" rating for the company in a report on Monday. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $60.00.

Insider Buying and Selling at Olin

In other news, CFO Todd A. Slater sold 63,250 shares of the stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $54.15, for a total value of $3,424,987.50. Following the completion of the sale, the chief financial officer now owns 137,517 shares of the company's stock, valued at approximately $7,446,545.55. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Olin news, CEO Scott Mcdougald Sutton sold 539,328 shares of the company's stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $53.96, for a total transaction of $29,102,138.88. Following the transaction, the chief executive officer now directly owns 47,620 shares in the company, valued at $2,569,575.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Todd A. Slater sold 63,250 shares of the stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $54.15, for a total value of $3,424,987.50. Following the transaction, the chief financial officer now directly owns 137,517 shares in the company, valued at approximately $7,446,545.55. The disclosure for this sale can be found here. Insiders sold a total of 753,274 shares of company stock worth $40,434,124 in the last three months. 1.80% of the stock is owned by corporate insiders.

Olin Company Profile

Olin Corporation manufactures and distributes chemical products in the United States, Europe, Asia Pacific, Latin America, and Canada. It operates through three segments: Chlor Alkali Products and Vinyls; Epoxy; and Winchester. The Chlor Alkali Products and Vinyls segment offers chlorine and caustic soda, ethylene dichloride and vinyl chloride monomers, methyl chloride, methylene chloride, chloroform, carbon tetrachloride, perchloroethylene, hydrochloric acid, hydrogen, bleach products, potassium hydroxide, and chlorinated organics intermediates and solvents.