Teresa M. Vermillion Sells 6,000 Shares of Olin (NYSE:OLN) Stock

Key Points

• Teresa M. Vermillion, VP of Olin Corporation, sold 6,000 shares of the company's stock for $126,660, reducing her ownership by 25.86% to 17,199 shares.
• Olin's recent earnings report showed a loss of $0.04 per share, missing estimates, despite quarterly revenue increasing by 7.0% to $1.76 billion.
• Analysts have adjusted Olin's price targets downward, with Royal Bank of Canada setting a new price target of $23.00, while the stock currently has a consensus rating of "Hold".

Olin Corporation (NYSE:OLN - Get Free Report) VP Teresa M. Vermillion sold 6,000 shares of the stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $21.11, for a total value of $126,660.00. Following the completion of the sale, the vice president directly owned 17,199 shares in the company, valued at $363,070.89. This represents a 25.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Olin Stock Performance

NYSE OLN traded up $0.4520 during trading hours on Wednesday, hitting $21.7420. The company had a trading volume of 37,890 shares, compared to its average volume of 2,078,974. Olin Corporation has a fifty-two week low of $17.66 and a fifty-two week high of $49.60. The company has a quick ratio of 0.88, a current ratio of 1.48 and a debt-to-equity ratio of 1.50. The business has a fifty day simple moving average of $20.56 and a 200-day simple moving average of $22.20. The firm has a market cap of $2.49 billion, a P/E ratio of -180.33 and a beta of 1.55.

Olin (NYSE:OLN - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The specialty chemicals company reported $0.05 EPS for the quarter, missing analysts' consensus estimates of $0.09 by ($0.04). The business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.68 billion. Olin had a negative net margin of 0.21% and a negative return on equity of 0.13%. Olin's revenue for the quarter was up 7.0% on a year-over-year basis. During the same period last year, the business posted $0.62 earnings per share. Equities analysts predict that Olin Corporation will post 1.38 EPS for the current year.

Olin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Thursday, August 28th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Thursday, August 28th. Olin's dividend payout ratio (DPR) is -666.67%.

Hedge Funds Weigh In On Olin

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vestcor Inc boosted its stake in Olin by 4.6% in the 1st quarter. Vestcor Inc now owns 12,630 shares of the specialty chemicals company's stock valued at $306,000 after buying an additional 558 shares in the last quarter. FORA Capital LLC boosted its stake in Olin by 2.6% in the 2nd quarter. FORA Capital LLC now owns 24,453 shares of the specialty chemicals company's stock valued at $491,000 after buying an additional 625 shares in the last quarter. Fifth Third Bancorp boosted its stake in Olin by 160.5% in the 1st quarter. Fifth Third Bancorp now owns 1,206 shares of the specialty chemicals company's stock valued at $29,000 after buying an additional 743 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in Olin by 13.0% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 6,778 shares of the specialty chemicals company's stock valued at $164,000 after purchasing an additional 778 shares during the last quarter. Finally, Treasurer of the State of North Carolina raised its position in Olin by 1.5% in the 2nd quarter. Treasurer of the State of North Carolina now owns 53,636 shares of the specialty chemicals company's stock valued at $1,078,000 after purchasing an additional 793 shares during the last quarter. Institutional investors and hedge funds own 88.67% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. lowered their price target on Olin from $28.00 to $20.00 and set a "neutral" rating on the stock in a report on Tuesday, May 6th. Truist Financial lowered their price target on Olin from $25.00 to $24.00 and set a "hold" rating on the stock in a report on Monday, May 5th. Morgan Stanley lowered their price target on Olin from $28.00 to $20.00 and set an "underweight" rating on the stock in a report on Monday, May 12th. Citigroup lowered their price target on Olin from $26.00 to $25.00 and set a "buy" rating on the stock in a report on Tuesday, July 8th. Finally, Wall Street Zen raised Olin from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Three equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Olin has an average rating of "Hold" and a consensus target price of $25.57.

About Olin

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.