John E. Fischer Sells 37,583 Shares of Olin Corporation (OLN) Stock

Olin Corporation (NYSE:OLN) Chairman John E. Fischer sold 37,583 shares of Olin Corporation stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $36.80, for a total value of $1,383,054.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Shares of Olin Corporation (NYSE:OLN) opened at $36.23 on Monday. Olin Corporation has a 12 month low of $24.88 and a 12 month high of $37.52. The stock has a market cap of $6,030.37, a price-to-earnings ratio of 44.73, a PEG ratio of 4.03 and a beta of 1.41. The company has a current ratio of 1.72, a quick ratio of 1.03 and a debt-to-equity ratio of 1.59.

Olin Corporation (NYSE:OLN) last announced its quarterly earnings data on Monday, October 30th. The specialty chemicals company reported $0.31 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.04). Olin Corporation had a net margin of 1.29% and a return on equity of 6.05%. The company had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.58 billion. During the same period in the prior year, the firm earned $0.11 earnings per share. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. sell-side analysts predict that Olin Corporation will post 0.93 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Friday, November 10th will be paid a dividend of $0.20 per share. The ex-dividend date is Thursday, November 9th. This represents a $0.80 annualized dividend and a dividend yield of 2.21%. Olin Corporation’s dividend payout ratio is presently 177.78%.

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Several hedge funds and other institutional investors have recently made changes to their positions in the company. Kensico Capital Management Corp boosted its position in Olin Corporation by 43.3% during the 3rd quarter. Kensico Capital Management Corp now owns 7,800,000 shares of the specialty chemicals company’s stock worth $267,150,000 after purchasing an additional 2,355,000 shares during the period. Jennison Associates LLC boosted its position in Olin Corporation by 7,869.7% during the 3rd quarter. Jennison Associates LLC now owns 1,992,417 shares of the specialty chemicals company’s stock worth $68,240,000 after purchasing an additional 1,967,417 shares during the period. Iridian Asset Management LLC CT boosted its position in Olin Corporation by 28.0% during the 2nd quarter. Iridian Asset Management LLC CT now owns 7,098,169 shares of the specialty chemicals company’s stock worth $214,933,000 after purchasing an additional 1,553,430 shares during the period. King Street Capital Management L.P. boosted its position in Olin Corporation by 50.0% during the 2nd quarter. King Street Capital Management L.P. now owns 3,000,000 shares of the specialty chemicals company’s stock worth $90,840,000 after purchasing an additional 1,000,000 shares during the period. Finally, BlueCrest Capital Management Ltd boosted its position in Olin Corporation by 481.0% during the 2nd quarter. BlueCrest Capital Management Ltd now owns 680,828 shares of the specialty chemicals company’s stock worth $20,615,000 after purchasing an additional 563,647 shares during the period. 95.49% of the stock is owned by institutional investors.

OLN has been the subject of several analyst reports. BidaskClub downgraded Olin Corporation from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Cowen and Company reiterated an “outperform” rating and issued a $42.00 price target (up from $39.00) on shares of Olin Corporation in a report on Tuesday, October 10th. Zacks Investment Research upgraded Olin Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, October 17th. Citigroup Inc. initiated coverage on Olin Corporation in a report on Wednesday, September 27th. They issued a “buy” rating and a $39.00 price target for the company. Finally, TheStreet upgraded Olin Corporation from a “c+” rating to a “b” rating in a report on Tuesday, October 31st. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Olin Corporation currently has a consensus rating of “Buy” and a consensus target price of $37.13.

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.

Insider Buying and Selling by Quarter for Olin Corporation (NYSE:OLN)

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