James A. Varilek Sells 50,000 Shares of Olin Co. (NYSE:OLN) Stock

Olin Co. (NYSE:OLNGet Rating) COO James A. Varilek sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, November 18th. The stock was sold at an average price of $56.56, for a total value of $2,828,000.00. Following the sale, the chief operating officer now directly owns 17,761 shares of the company’s stock, valued at $1,004,562.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Olin Trading Up 0.2 %

NYSE:OLN opened at $58.03 on Thursday. The company has a market cap of $7.95 billion, a P/E ratio of 6.23, a P/E/G ratio of 3.35 and a beta of 1.42. The stock’s fifty day moving average price is $50.45 and its two-hundred day moving average price is $53.18. Olin Co. has a 1 year low of $41.33 and a 1 year high of $67.25. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.41 and a quick ratio of 0.83.

Olin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 9th. Shareholders of record on Thursday, November 10th will be given a dividend of $0.20 per share. The ex-dividend date is Wednesday, November 9th. This represents a $0.80 annualized dividend and a dividend yield of 1.38%. Olin’s dividend payout ratio is currently 8.59%.

Institutional Investors Weigh In On Olin

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Olin by 3.2% during the first quarter. Vanguard Group Inc. now owns 15,867,281 shares of the specialty chemicals company’s stock worth $829,542,000 after acquiring an additional 493,052 shares in the last quarter. BlackRock Inc. raised its position in shares of Olin by 3.1% in the first quarter. BlackRock Inc. now owns 15,796,238 shares of the specialty chemicals company’s stock worth $825,827,000 after buying an additional 472,527 shares in the last quarter. FMR LLC raised its position in shares of Olin by 0.8% in the second quarter. FMR LLC now owns 7,346,926 shares of the specialty chemicals company’s stock worth $340,017,000 after buying an additional 58,801 shares in the last quarter. State Street Corp raised its position in shares of Olin by 0.6% in the first quarter. State Street Corp now owns 5,581,714 shares of the specialty chemicals company’s stock worth $291,812,000 after buying an additional 31,587 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Olin by 0.4% in the third quarter. Dimensional Fund Advisors LP now owns 4,933,066 shares of the specialty chemicals company’s stock worth $211,525,000 after buying an additional 19,638 shares in the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on OLN. Royal Bank of Canada upped their target price on Olin from $58.00 to $60.00 and gave the company an “outperform” rating in a report on Friday, October 28th. Citigroup upped their target price on Olin to $55.00 in a report on Tuesday, November 1st. The Goldman Sachs Group began coverage on Olin in a report on Thursday, October 13th. They issued a “buy” rating and a $56.00 target price for the company. Barclays upped their target price on Olin from $54.00 to $60.00 and gave the company an “equal weight” rating in a report on Tuesday, November 1st. Finally, Wells Fargo & Company set a $69.00 target price on Olin in a report on Thursday, November 17th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Olin has a consensus rating of “Moderate Buy” and a consensus price target of $58.09.

About Olin

(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.

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