Olin Target of Unusually High Options Trading (NYSE:OLN)

Olin Corporation (NYSE:OLN - Get Free Report) was the target of unusually large options trading on Thursday. Stock traders acquired 6,039 call options on the stock. This is an increase of 988% compared to the typical volume of 555 call options.

Olin Stock Performance

Shares of NYSE:OLN traded down $0.74 during mid-day trading on Friday, reaching $21.90. The company had a trading volume of 2,319,524 shares, compared to its average volume of 1,730,057. Olin has a one year low of $17.66 and a one year high of $50.75. The firm has a market cap of $2.52 billion, a price-to-earnings ratio of 42.94 and a beta of 1.52. The company has a current ratio of 1.56, a quick ratio of 0.96 and a debt-to-equity ratio of 1.48. The company's 50-day moving average price is $20.68 and its 200-day moving average price is $24.48.

Olin (NYSE:OLN - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The specialty chemicals company reported $0.04 EPS for the quarter, beating analysts' consensus estimates of ($0.10) by $0.14. Olin had a net margin of 0.94% and a return on equity of 3.13%. The firm had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same period in the previous year, the business earned $0.40 EPS. The business's revenue for the quarter was up 1.2% on a year-over-year basis. As a group, equities research analysts anticipate that Olin will post 1.38 EPS for the current fiscal year.

Olin Dividend Announcement

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

Wall Street Analyst Weigh In

OLN has been the subject of a number of research reports. Morgan Stanley reduced their price objective on Olin from $28.00 to $20.00 and set an "underweight" rating for the company in a research report on Monday, May 12th. Citigroup cut their price target on Olin from $26.00 to $25.00 and set a "buy" rating for the company in a report on Tuesday, July 8th. Piper Sandler lowered their price objective on Olin from $33.00 to $26.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. KeyCorp decreased their price target on Olin from $40.00 to $34.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Finally, UBS Group increased their price objective on Olin from $22.00 to $23.00 and gave the company a "neutral" rating in a research report on Wednesday. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $27.40.

Hedge Funds Weigh In On Olin

Hedge funds and other institutional investors have recently modified their holdings of the company. Covestor Ltd increased its position in shares of Olin by 45.8% during the fourth 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 lifted its position in Olin by 4.6% during the first quarter. Vestcor Inc now owns 12,630 shares of the specialty chemicals company's stock valued at $306,000 after purchasing an additional 558 shares during the period. Fifth Third Bancorp lifted its position in Olin by 160.5% during the first 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 during the period. Xponance Inc. raised its position in Olin by 5.9% in the fourth quarter. Xponance Inc. now owns 13,435 shares of the specialty chemicals company's stock worth $454,000 after acquiring an additional 754 shares during the period. Finally, Northwestern Mutual Wealth Management Co. raised its position in Olin by 13.0% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 6,778 shares of the specialty chemicals company's stock worth $164,000 after acquiring an additional 778 shares during the period. 88.67% of the stock is owned by institutional investors.

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.