Olin Co. (NYSE:OLN) Director Heidi S. Alderman acquired 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were acquired at an average cost of $16.69 per share, for a total transaction of $33,380.00. Following the completion of the transaction, the director now directly owns 2,000 shares of the company’s stock, valued at $33,380. The purchase was disclosed in a filing with the SEC, which is available at the SEC website.
OLN stock traded down $0.70 during trading on Friday, reaching $15.41. The stock had a trading volume of 3,251,025 shares, compared to its average volume of 2,857,337. Olin Co. has a 52 week low of $15.38 and a 52 week high of $32.00. The stock’s 50 day moving average is $19.45 and its two-hundred day moving average is $22.20. The company has a current ratio of 1.64, a quick ratio of 0.98 and a debt-to-equity ratio of 1.17. The firm has a market cap of $2.68 billion, a PE ratio of 8.81, a PEG ratio of 0.86 and a beta of 1.54.
Olin (NYSE:OLN) last posted its earnings results on Wednesday, July 31st. The specialty chemicals company reported ($0.01) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.01). Olin had a return on equity of 7.82% and a net margin of 4.06%. The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter in the prior year, the company earned $0.35 earnings per share. Olin’s revenue was down 7.8% on a year-over-year basis. On average, research analysts anticipate that Olin Co. will post 1.09 EPS for the current year.
A number of hedge funds have recently bought and sold shares of OLN. Stonebridge Capital Advisors LLC bought a new position in shares of Olin in the second quarter worth about $33,000. Bell Rock Capital LLC purchased a new stake in shares of Olin during the second quarter worth about $35,000. Steward Partners Investment Advisory LLC purchased a new stake in shares of Olin during the second quarter worth about $35,000. CWM LLC grew its position in shares of Olin by 1,219.7% during the first quarter. CWM LLC now owns 1,676 shares of the specialty chemicals company’s stock worth $39,000 after purchasing an additional 1,549 shares in the last quarter. Finally, Advisory Services Network LLC grew its position in shares of Olin by 59.1% during the second quarter. Advisory Services Network LLC now owns 2,053 shares of the specialty chemicals company’s stock worth $45,000 after purchasing an additional 763 shares in the last quarter. 90.39% of the stock is currently owned by institutional investors.
Several equities research analysts recently commented on the company. ValuEngine raised Olin from a “strong sell” rating to a “sell” rating in a research report on Friday, May 10th. Royal Bank of Canada dropped their price objective on Olin to $19.00 and set a “sector perform” rating on the stock in a research report on Wednesday, July 10th. Cowen reaffirmed an “outperform” rating and set a $27.00 price objective (down from $31.00) on shares of Olin in a research report on Monday, May 6th. Barclays reaffirmed a “hold” rating and set a $22.00 price objective on shares of Olin in a research report on Sunday, August 4th. Finally, Morgan Stanley cut Olin from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $33.00 to $23.00 in a research report on Friday, July 19th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. Olin presently has a consensus rating of “Hold” and an average target price of $26.17.
Olin Company Profile
Olin Corporation manufactures and distributes chemical products in the United States and internationally. 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, trichloroethylene and vinylidene chloride, hydrochloric acid, hydrogen, bleach products, potassium hydroxide, chlorinated organics intermediates and solvents, and sodium hypochlorite.The Epoxy segment provides allyl chloride and epichlorohydrin, as well as acetone, bisphenol, cumene, and phenol for use in resins and other plastic materials, water purification, and pesticides, as well as for the manufacturers of polymers; liquid and solid epoxy resins that are used in adhesives, paints and coatings, composites, and flooring; and differentiated epoxy resins for use in electrical laminates, paints and coatings, wind blades, electronics, and construction, as well as offers additives.
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