John L. Mcintosh Sells 24,000 Shares of Olin Corporation (NYSE:OLN) Stock

Olin Corporation (NYSE:OLN) EVP John L. Mcintosh sold 24,000 shares of the company’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $31.54, for a total transaction of $756,960.00. Following the sale, the executive vice president now directly owns 84,391 shares in the company, valued at $2,661,692.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Olin Corporation (NYSE:OLN) opened at 30.02 on Friday. Olin Corporation has a 12 month low of $18.24 and a 12 month high of $33.88. The stock’s 50 day moving average is $30.43 and its 200-day moving average is $30.82. The firm has a market capitalization of $4.99 billion, a price-to-earnings ratio of 116.81 and a beta of 1.43.

Olin Corporation (NYSE:OLN) last announced its quarterly earnings results on Monday, July 31st. The specialty chemicals company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by $0.15. The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.51 billion. Olin Corporation had a net margin of 0.72% and a return on equity of 5.80%. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period last year, the firm posted $0.24 earnings per share. Equities analysts anticipate that Olin Corporation will post $1.14 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Thursday, August 10th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.66%. The ex-dividend date is Tuesday, August 8th. Olin Corporation’s dividend payout ratio (DPR) is presently 320.00%.

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A number of large investors have recently bought and sold shares of OLN. Public Employees Retirement System of Ohio increased its stake in Olin Corporation by 766.4% in the second quarter. Public Employees Retirement System of Ohio now owns 83,115 shares of the specialty chemicals company’s stock valued at $2,517,000 after buying an additional 73,522 shares in the last quarter. Proxima Capital Management LLC increased its position in shares of Olin Corporation by 28.5% in the second quarter. Proxima Capital Management LLC now owns 175,000 shares of the specialty chemicals company’s stock worth $5,299,000 after buying an additional 38,800 shares during the period. Sterling Capital Management LLC bought a new position in Olin Corporation during the second quarter worth about $778,000. Nomura Holdings Inc. bought a new position in Olin Corporation during the second quarter worth about $396,000. Finally, TVR Capital Management LP increased its position in Olin Corporation by 714.0% in the second quarter. TVR Capital Management LP now owns 442,597 shares of the specialty chemicals company’s stock worth $13,401,000 after buying an additional 388,225 shares during the last quarter. Institutional investors and hedge funds own 93.02% of the company’s stock.

Several analysts have weighed in on the stock. UBS AG reaffirmed a “neutral” rating and set a $30.00 price objective (down from $33.00) on shares of Olin Corporation in a research note on Sunday, June 25th. BidaskClub raised shares of Olin Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday. Royal Bank Of Canada reaffirmed a “buy” rating and set a $35.00 price objective on shares of Olin Corporation in a research note on Tuesday, June 20th. Tudor Pickering started coverage on shares of Olin Corporation in a research note on Friday, May 12th. They set a “buy” rating and a $37.00 price objective on the stock. Finally, Cowen and Company set a $39.00 target price on shares of Olin Corporation and gave the stock a “buy” rating in a research report on Friday, July 28th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $32.75.

Olin Corporation Company Profile

Olin Corporation is a manufacturer and distributor of chemical products, and ammunition. The Company operates through three segments: Chlor Alkali Products and Vinyls, Epoxy and Winchester. The Chlor Alkali Products and Vinyls segment manufactures and sells chlorine and caustic soda, ethylene dichloride and vinyl chloride monomer, methyl chloride, methylene chloride, chloroform, carbon tetrachloride, perchloroethylene, trichloroethylene and vinylidene chloride, hydrochloric acid, hydrogen, bleach products and potassium hydroxide.

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