Insider Selling: Olin Co. (NYSE:OLN) VP Sells $459,375.00 in Stock

Olin Co. (NYSE:OLN) VP R Nichole Sumner sold 10,500 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $43.75, for a total transaction of $459,375.00. Following the completion of the sale, the vice president now directly owns 24,056 shares in the company, valued at approximately $1,052,450. This trade represents a 30.39 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Olin Trading Down 2.0 %

NYSE:OLN opened at $41.82 on Friday. The company has a 50-day moving average price of $44.51 and a 200-day moving average price of $47.08. Olin Co. has a 12 month low of $39.47 and a 12 month high of $60.60. The company has a current ratio of 1.40, a quick ratio of 0.82 and a debt-to-equity ratio of 1.32. The stock has a market cap of $4.88 billion, a price-to-earnings ratio of 33.73, a P/E/G ratio of 1.74 and a beta of 1.43.

Olin Dividend Announcement

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 given a $0.20 dividend. The ex-dividend date is Thursday, November 14th. This represents a $0.80 annualized dividend and a dividend yield of 1.91%. Olin’s dividend payout ratio is 64.52%.

Institutional Investors Weigh In On Olin

Several institutional investors and hedge funds have recently modified their holdings of the stock. Paloma Partners Management Co purchased a new stake in shares of Olin in the 3rd quarter worth about $330,000. Point72 Asia Singapore Pte. Ltd. lifted its position in Olin by 22.5% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 8,676 shares of the specialty chemicals company’s stock valued at $416,000 after acquiring an additional 1,594 shares during the period. ARGA Investment Management LP lifted its position in Olin by 14.4% during the 3rd quarter. ARGA Investment Management LP now owns 40,638 shares of the specialty chemicals company’s stock valued at $1,950,000 after acquiring an additional 5,104 shares during the period. Verition Fund Management LLC lifted its position in Olin by 70.9% during the 3rd quarter. Verition Fund Management LLC now owns 544,814 shares of the specialty chemicals company’s stock valued at $26,140,000 after acquiring an additional 225,930 shares during the period. Finally, Captrust Financial Advisors lifted its position in Olin by 14.4% during the 3rd quarter. Captrust Financial Advisors now owns 4,998 shares of the specialty chemicals company’s stock valued at $240,000 after acquiring an additional 630 shares during the period. 88.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. raised shares of Olin from a “neutral” rating to an “overweight” rating and set a $55.00 target price on the stock in a report on Monday, July 29th. Royal Bank of Canada cut their price objective 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. Wells Fargo & Company cut their price objective on shares of Olin from $48.00 to $44.00 and set an “equal weight” rating for the company in a research note on Monday, October 28th. Piper Sandler cut their price objective 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. Finally, Deutsche Bank Aktiengesellschaft cut their price objective 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. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $51.86.

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.