Olin Corporation (OLN) Posts Earnings Results, Misses Estimates By $0.04 EPS

Olin Corporation (NYSE:OLN) issued its quarterly earnings results on Monday. The specialty chemicals company reported $0.31 EPS for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.04), Briefing.com reports. The company had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.58 billion. Olin Corporation had a return on equity of 5.80% and a net margin of 0.72%. Olin Corporation’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.11 EPS.

Olin Corporation (OLN) traded up 1.32% during trading on Tuesday, hitting $36.20. 1,517,472 shares of the company traded hands. The company’s 50 day moving average is $34.57 and its 200-day moving average is $31.58. Olin Corporation has a 52 week low of $20.43 and a 52 week high of $37.46. The stock has a market capitalization of $6.02 billion, a PE ratio of 140.86 and a beta of 1.42.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Friday, November 10th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.24%. The ex-dividend date is Thursday, November 9th. Olin Corporation’s dividend payout ratio is currently 320.00%.

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In related news, VP Stephen C. Curley sold 5,000 shares of the company’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $30.34, for a total transaction of $151,700.00. Following the sale, the vice president now owns 23,837 shares of the company’s stock, valued at $723,214.58. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP John L. Mcintosh sold 24,000 shares of the company’s stock in a transaction on Thursday, August 3rd. The shares were 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 approximately $2,661,692.14. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 45,070 shares of company stock worth $1,407,151. 2.90% of the stock is owned by insiders.

A number of brokerages have recently commented on OLN. BidaskClub raised shares of Olin Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 16th. Cowen and Company set a $39.00 price target on shares of Olin Corporation and gave the stock a “buy” rating in a report on Friday, July 28th. SunTrust Banks, Inc. reissued a “buy” rating and issued a $44.00 price target (up previously from $36.00) on shares of Olin Corporation in a report on Monday, October 2nd. Citigroup Inc. began coverage on shares of Olin Corporation in a report on Wednesday, September 27th. They issued a “buy” rating and a $39.00 price target on the stock. Finally, Zacks Investment Research lowered shares of Olin Corporation from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 4th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $36.88.

About Olin Corporation

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.

Earnings History for Olin Corporation (NYSE:OLN)

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