Olin Sees Unusually Large Options Volume (NYSE:OLN)

Olin Corporation (NYSE:OLN - Get Free Report) was the target of some unusual options trading on Thursday. Traders purchased 6,039 call options on the company. This represents an increase of 988% compared to the average daily volume of 555 call options.

Olin Trading Down 3.3%

NYSE:OLN traded down $0.74 during trading hours on Friday, reaching $21.90. 1,918,699 shares of the stock were exchanged, compared to its average volume of 1,726,444. The company has a quick ratio of 0.96, a current ratio of 1.56 and a debt-to-equity ratio of 1.48. The business has a 50-day moving average of $20.67 and a two-hundred day moving average of $24.75. Olin has a twelve month low of $17.66 and a twelve month high of $50.75. The company has a market capitalization of $2.52 billion, a price-to-earnings ratio of 42.94 and a beta of 1.52.

Olin (NYSE:OLN - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The specialty chemicals company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.14. Olin had a return on equity of 3.13% and a net margin of 0.94%. The firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter in the previous year, the business earned $0.40 EPS. The company's quarterly revenue was up 1.2% compared to the same quarter last year. On average, equities analysts predict that Olin will post 1.38 EPS for the current year.

Olin Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Thursday, May 15th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.65%. The ex-dividend date was Thursday, May 15th. Olin's payout ratio is 156.86%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Mizuho set a $23.00 price objective on Olin in a research report on Tuesday, April 15th. JPMorgan Chase & Co. reduced 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. KeyCorp dropped their price objective on shares of Olin from $40.00 to $34.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Barclays cut their price objective on shares of Olin from $28.00 to $24.00 and set an "equal weight" rating for the company in a research report on Wednesday, May 28th. Finally, Piper Sandler decreased their target price on shares of Olin from $33.00 to $26.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $27.40.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Covestor Ltd boosted its position in Olin by 45.8% in the 4th quarter. Covestor Ltd now owns 1,334 shares of the specialty chemicals company's stock valued at $45,000 after buying an additional 419 shares during the period. Vestcor Inc increased its holdings in Olin by 4.6% during the 1st quarter. Vestcor Inc now owns 12,630 shares of the specialty chemicals company's stock worth $306,000 after purchasing an additional 558 shares during the period. Fifth Third Bancorp raised its position 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 purchasing an additional 743 shares in the last quarter. Xponance Inc. boosted its stake in shares of Olin by 5.9% in the 4th quarter. Xponance Inc. now owns 13,435 shares of the specialty chemicals company's stock valued at $454,000 after buying an additional 754 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its position in shares of Olin by 13.0% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 6,778 shares of the specialty chemicals company's stock worth $164,000 after buying an additional 778 shares in the last quarter. Institutional investors and hedge funds own 88.67% of the company's stock.

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.