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 Olin stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $43.75, for a total transaction of $459,375.00. Following the completion of the transaction, the vice president now directly owns 24,056 shares of the company’s stock, valued at $1,052,450. This trade represents a 30.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Olin Price Performance

Shares of NYSE:OLN opened at $41.82 on Friday. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.40 and a quick ratio of 0.82. Olin Co. has a 1-year low of $39.47 and a 1-year high of $60.60. The company has a market capitalization of $4.88 billion, a P/E ratio of 33.73, a P/E/G ratio of 1.74 and a beta of 1.43. The firm’s 50 day simple moving average is $44.51 and its two-hundred day simple moving average is $47.08.

Olin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Thursday, November 14th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend is Thursday, November 14th. Olin’s dividend payout ratio (DPR) is presently 64.52%.

Hedge Funds Weigh In On Olin

Hedge funds have recently modified their holdings of the stock. Harbor Capital Advisors Inc. lifted its holdings in shares of 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 buying an additional 31,587 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of 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 buying an additional 46,260 shares in the last quarter. Clearbridge Investments LLC lifted its holdings in shares of 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 buying an additional 35,637 shares in the last quarter. LRI Investments LLC purchased a new position in shares of Olin in the first quarter worth $28,000. Finally, Seven Eight Capital LP lifted its holdings in shares of 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 buying an additional 10,760 shares in the last quarter. Hedge funds and other institutional investors own 88.67% of the company’s stock.

Wall Street Analysts Forecast Growth

OLN has been the subject of several recent analyst reports. Wells Fargo & Company decreased their target price on shares of Olin from $48.00 to $44.00 and set an “equal weight” rating for the company in a report on Monday, October 28th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Olin from $57.00 to $48.00 and set a “hold” rating for the company in a research note on Monday, July 29th. Barclays reduced their price target on shares of Olin from $49.00 to $45.00 and set an “equal weight” rating for the company in a research note on Monday, October 28th. Royal Bank of Canada reduced their price target on shares of Olin from $52.00 to $48.00 and set an “outperform” rating for the company in a research note on Tuesday, October 29th. Finally, Piper Sandler reduced their price target on shares of Olin from $57.00 to $51.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $51.86.

Olin Company Profile

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.