Olin Corporation manufactures and distributes chemical products in the United States, Europe, and internationally. 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, chlorinated organics intermediates and solvents, and sodium hypochlorite. The Epoxy segment provides epoxy materials and precursors, including aromatics, such as acetone, bisphenol, cumene, and phenol, as well as allyl chloride, epichlorohydrin, and glycerin used for the manufacturers of polymers, resins and other plastic materials, and water purification; liquid and solid epoxy resins that are used in adhesives, marines, protective coatings, composites, and flooring; and converted epoxy resins and additives for use in electrical laminates, paints and coatings, wind blades, electronics, and construction. The Winchester segment offers sporting ammunition products, including shotshells, small caliber centerfire, and rimfire ammunition products for hunters and recreational shooters, and law enforcement agencies; small caliber military ammunition products for use in infantry and mounted weapons; and industrial products comprising gauge loads and powder-actuated tool loads for maintenance applications in power and concrete industries, and powder-actuated tools in construction industry. The company markets its products through its sales force, as well as directly to various industrial customers, mass merchants, retailers, wholesalers, other distributors, and the U.S. Government and its prime contractors. Olin Corporation was incorporated in 1892 and is based in Clayton, Missouri.
Olin Stock Up 1.0 %
OLN Stock opened at $58.13 on Friday. The company's 50 day simple moving average is $50.42 and its 200-day simple moving average is $53.79. The firm has a market capitalization of $8.44 billion, a PE ratio of 6.11, a P/E/G ratio of 1.82 and a beta of 1.34. Olin has a 12 month low of $43.02 and a 12 month high of $67.25. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.44 and a quick ratio of 0.93.
Olin Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 9th. Stockholders of record on Wednesday, August 10th will be given a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, August 9th. This represents a $0.80 annualized dividend and a dividend yield of 1.38%. Olin's dividend payout ratio is presently 8.41%.
Wall Street Analyst Weigh In
A number of research analysts have recently issued reports on OLN shares. UBS Group dropped their price target on shares of Olin from $64.00 to $60.00 and set a "buy" rating on the stock in a research note on Friday, July 29th. Citigroup boosted their price target on shares of Olin to $57.00 in a research note on Tuesday, August 9th. KeyCorp upped their target price on shares of Olin from $60.00 to $61.00 and gave the stock an "overweight" rating in a research report on Monday, August 1st. Royal Bank of Canada lowered their target price on shares of Olin from $76.00 to $70.00 and set an "outperform" rating on the stock in a research report on Monday, August 1st. Finally, Bank of America lowered their target price on shares of Olin from $81.00 to $72.00 and set a "buy" rating on the stock in a research report on Tuesday, June 14th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $67.36.
Insider Activity
In related news, Director Scott D. Ferguson sold 2,500,000 shares of the company's stock in a transaction that occurred on Monday, May 23rd. The shares were sold at an average price of $60.98, for a total transaction of $152,450,000.00. Following the transaction, the director now owns 9,465,160 shares of the company's stock, valued at $577,185,456.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Scott D. Ferguson sold 2,500,000 shares of the company's stock in a transaction that occurred on Monday, May 23rd. The shares were sold at an average price of $60.98, for a total transaction of $152,450,000.00. Following the transaction, the director now owns 9,465,160 shares of the company's stock, valued at $577,185,456.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP R Nichole Sumner sold 9,518 shares of the company's stock in a transaction that occurred on Friday, May 27th. The shares were sold at an average price of $64.83, for a total transaction of $617,051.94. Following the transaction, the vice president now directly owns 12,242 shares in the company, valued at approximately $793,648.86. The disclosure for this sale can be found here. Insiders have sold 2,537,783 shares of company stock worth $154,897,493 over the last ninety days. 9.00% of the stock is currently owned by insiders.
