Insider Buying: Olin Co. (OLN) Director Buys 15,000 Shares of Stock

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Olin Co. (NYSE:OLN) Director Scott Mcdougald Sutton bought 15,000 shares of Olin stock in a transaction dated Thursday, November 1st. The stock was acquired at an average cost of $21.62 per share, for a total transaction of $324,300.00. Following the purchase, the director now directly owns 15,000 shares in the company, valued at approximately $324,300. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Olin stock opened at $21.75 on Wednesday. Olin Co. has a fifty-two week low of $18.49 and a fifty-two week high of $38.84. The company has a market cap of $3.57 billion, a P/E ratio of 26.85, a PEG ratio of 0.31 and a beta of 1.75. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.13 and a current ratio of 1.81.

Olin (NYSE:OLN) last released its quarterly earnings data on Monday, October 29th. The specialty chemicals company reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.09). Olin had a return on equity of 10.70% and a net margin of 11.02%. The firm had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the previous year, the business earned $0.31 EPS. The firm’s revenue was up 20.4% compared to the same quarter last year. Analysts expect that Olin Co. will post 1.89 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Friday, November 9th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.68%. The ex-dividend date is Thursday, November 8th. Olin’s payout ratio is 98.77%.

Institutional investors have recently added to or reduced their stakes in the stock. Balter Liquid Alternatives LLC bought a new position in Olin during the 2nd quarter worth approximately $154,000. Baird Financial Group Inc. bought a new position in Olin during the 2nd quarter worth approximately $204,000. WINTON GROUP Ltd bought a new position in Olin during the 1st quarter worth approximately $222,000. MAI Capital Management bought a new position in Olin during the 2nd quarter worth approximately $240,000. Finally, Acadian Asset Management LLC bought a new position in Olin during the 3rd quarter worth approximately $236,000. 87.60% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts have recently issued reports on OLN shares. Barclays started coverage on shares of Olin in a research note on Monday, October 8th. They issued an “equal weight” rating and a $29.00 target price on the stock. Susquehanna Bancshares raised their target price on shares of Olin from $37.00 to $40.00 and gave the company a “positive” rating in a research note on Thursday, August 2nd. Zacks Investment Research lowered shares of Olin from a “hold” rating to a “sell” rating in a research note on Tuesday, July 17th. TheStreet raised shares of Olin from a “c+” rating to a “b” rating in a research note on Wednesday, August 1st. Finally, Nomura reduced their target price on shares of Olin from $29.00 to $27.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 31st. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $31.91.

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About Olin

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, and potassium hydroxide.

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