Olin (NYSE:OLN) Shares Gap Down to $47.78

Shares of Olin Co. (NYSE:OLNGet Rating) gapped down before the market opened on Tuesday . The stock had previously closed at $47.78, but opened at $45.52. Olin shares last traded at $45.01, with a volume of 17,351 shares trading hands.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. KeyCorp raised their target price on Olin from $60.00 to $61.00 and gave the company an “overweight” rating in a research note on Monday, August 1st. StockNews.com downgraded Olin from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 15th. Piper Sandler reduced their target price on Olin from $73.00 to $68.00 and set an “overweight” rating for the company in a report on Wednesday. Citigroup upped their target price on Olin to $57.00 in a report on Tuesday, August 9th. Finally, Bank of America reduced their target price on Olin from $69.00 to $62.00 in a report on Wednesday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $63.75.

Olin Stock Performance

The firm has a 50 day moving average of $52.44 and a 200-day moving average of $54.26. The stock has a market capitalization of $6.57 billion, a PE ratio of 4.76, a P/E/G ratio of 1.51 and a beta of 1.31. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.93 and a current ratio of 1.44.

Olin Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Wednesday, August 10th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.77%. The ex-dividend date was Tuesday, August 9th. Olin’s dividend payout ratio is currently 8.41%.

Insiders Place Their Bets

In other Olin news, COO James A. Varilek sold 3,345 shares of the company’s stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $57.81, for a total value of $193,374.45. Following the transaction, the chief operating officer now directly owns 17,761 shares of the company’s stock, valued at approximately $1,026,763.41. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 9.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Salem Investment Counselors Inc. acquired a new position in Olin in the 1st quarter worth about $26,000. Wellington Shields Capital Management LLC acquired a new position in shares of Olin during the 1st quarter valued at about $28,000. TCI Wealth Advisors Inc. increased its holdings in shares of Olin by 169.2% during the 1st quarter. TCI Wealth Advisors Inc. now owns 603 shares of the specialty chemicals company’s stock valued at $32,000 after acquiring an additional 379 shares during the last quarter. TFO TDC LLC acquired a new position in shares of Olin during the 1st quarter valued at about $32,000. Finally, Quent Capital LLC acquired a new position in shares of Olin during the 4th quarter valued at about $40,000. 87.92% of the stock is owned by institutional investors and hedge funds.

Olin Company Profile

(Get Rating)

Olin Corporation manufactures and distributes chemical products in the United States, Europe, 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, hydrochloric acid, hydrogen, bleach products, potassium hydroxide, chlorinated organics intermediates and solvents, and sodium hypochlorite.

See Also

Receive News & Ratings for Olin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Olin and related companies with MarketBeat.com's FREE daily email newsletter.