Olin Corporation (NYSE:OLN - Get Free Report)'s share price traded down 8.7% during trading on Wednesday . The company traded as low as $26.01 and last traded at $27.5320. 1,151,980 shares traded hands during mid-day trading, a decline of 64% from the average session volume of 3,243,136 shares. The stock had previously closed at $30.14.
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on the company. Wall Street Zen lowered Olin from a "hold" rating to a "sell" rating in a research note on Saturday, January 10th. UBS Group set a $21.00 price objective on Olin in a research note on Monday, February 2nd. Truist Financial cut their price objective on Olin from $23.00 to $20.00 and set a "hold" rating on the stock in a research note on Monday, February 2nd. Weiss Ratings reissued a "sell (d+)" rating on shares of Olin in a research note on Thursday, January 22nd. Finally, KeyCorp dropped their price target on Olin from $29.00 to $26.00 and set an "overweight" rating on the stock in a research note on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $24.43.
Check Out Our Latest Stock Report on Olin
Olin Stock Performance
The company has a quick ratio of 0.73, a current ratio of 1.21 and a debt-to-equity ratio of 1.45. The company has a 50 day simple moving average of $25.40 and a 200-day simple moving average of $23.20. The stock has a market capitalization of $3.21 billion, a price-to-earnings ratio of -74.20 and a beta of 1.37.
Olin (NYSE:OLN - Get Free Report) last issued its quarterly earnings results on Thursday, January 29th. The specialty chemicals company reported ($0.58) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.58). The firm had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.61 billion. Olin had a negative return on equity of 0.48% and a negative net margin of 0.63%.The company's revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.09 earnings per share. As a group, equities research analysts expect that Olin Corporation will post 1.38 EPS for the current fiscal year.
Olin Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Tuesday, March 3rd were issued a dividend of $0.20 per share. The ex-dividend date was Tuesday, March 3rd. This represents a $0.80 annualized dividend and a dividend yield of 2.8%. Olin's payout ratio is currently -210.53%.
Insider Activity
In other news, VP R Nichole Sumner sold 4,750 shares of the business's stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $22.49, for a total transaction of $106,827.50. Following the completion of the sale, the vice president owned 24,771 shares in the company, valued at $557,099.79. The trade was a 16.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Angela M. Castle sold 2,379 shares of the business's stock in a transaction that occurred 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 sale, the vice president owned 1,528 shares of the company's stock, valued at approximately $37,054. This represents a 60.89% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 99,379 shares of company stock worth $2,238,298 over the last quarter. 1.60% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Olin
Several hedge funds and other institutional investors have recently modified their holdings of OLN. Strategic Advocates LLC bought a new stake in shares of Olin during the third quarter valued at approximately $25,000. Rockefeller Capital Management L.P. increased its holdings in shares of Olin by 115.2% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,231 shares of the specialty chemicals company's stock valued at $26,000 after acquiring an additional 659 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Olin during the first quarter valued at approximately $32,000. Bessemer Group Inc. grew its holdings in Olin by 712.7% during the third quarter. Bessemer Group Inc. now owns 1,341 shares of the specialty chemicals company's stock worth $34,000 after buying an additional 1,176 shares in the last quarter. Finally, Allworth Financial LP grew its holdings in Olin by 114.0% during the third quarter. Allworth Financial LP now owns 1,740 shares of the specialty chemicals company's stock worth $43,000 after buying an additional 927 shares in the last quarter. Institutional investors own 88.67% of the company's stock.
About Olin
(
Get Free Report)
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.
Further Reading
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