R Nichole Sumner Sells 10,500 Shares of Olin Co. (NYSE:OLN) Stock

Olin Co. (NYSE:OLN) VP R Nichole Sumner sold 10,500 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $43.75, for a total value of $459,375.00. Following the sale, the vice president now owns 24,056 shares in the company, valued at $1,052,450. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Olin Stock Down 1.7 %

Shares of NYSE OLN traded down $0.76 during midday trading on Tuesday, reaching $43.39. 174,322 shares of the company’s stock were exchanged, compared to its average volume of 1,198,846. Olin Co. has a 52-week low of $39.47 and a 52-week high of $60.60. The stock has a market capitalization of $5.06 billion, a PE ratio of 35.61, a price-to-earnings-growth ratio of 1.79 and a beta of 1.43. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.82 and a current ratio of 1.40. The business’s fifty day moving average price is $44.49 and its two-hundred day moving average price is $47.18.

Olin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Thursday, November 14th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date of this dividend is Thursday, November 14th. Olin’s payout ratio is 64.52%.

Analysts Set New Price Targets

Several research analysts recently weighed in on OLN shares. Royal Bank of Canada cut their target price on Olin from $52.00 to $48.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 29th. Barclays cut their target price on Olin from $49.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Monday, October 28th. JPMorgan Chase & Co. raised Olin from a “neutral” rating to an “overweight” rating and set a $55.00 target price on the stock in a research report on Monday, July 29th. Bank of America lowered Olin from a “buy” rating to a “neutral” rating and cut their price objective for the company from $62.00 to $51.00 in a research report on Monday, July 29th. Finally, BMO Capital Markets cut their price objective on Olin from $50.00 to $47.00 and set a “market perform” rating on the stock in a research report on Tuesday, October 29th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $51.86.

Institutional Trading of Olin

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Harbor Capital Advisors Inc. grew its stake in Olin by 344.3% in the second quarter. Harbor Capital Advisors Inc. now owns 40,760 shares of the specialty chemicals company’s stock worth $1,922,000 after purchasing an additional 31,587 shares in the last quarter. SG Americas Securities LLC grew its stake in Olin by 1,220.6% in the second quarter. SG Americas Securities LLC now owns 50,050 shares of the specialty chemicals company’s stock worth $2,360,000 after purchasing an additional 46,260 shares in the last quarter. Clearbridge Investments LLC grew its stake in Olin by 4.8% in the first quarter. Clearbridge Investments LLC now owns 777,658 shares of the specialty chemicals company’s stock worth $45,726,000 after purchasing an additional 35,637 shares in the last quarter. LRI Investments LLC acquired a new position in Olin in the first quarter worth about $28,000. Finally, Seven Eight Capital LP grew its stake in Olin by 111.4% in the first quarter. Seven Eight Capital LP now owns 20,416 shares of the specialty chemicals company’s stock worth $1,200,000 after purchasing an additional 10,760 shares in the last quarter. 88.67% of the stock is owned by hedge funds and other institutional investors.

About Olin

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.