Olin Sees Unusually Large Options Volume (NYSE:OLN)

Olin Corporation (NYSE:OLN) saw unusually large options trading activity on Tuesday. Stock investors acquired 14,624 put options on the stock. This represents an increase of approximately 387% compared to the typical daily volume of 3,004 put options.

Analyst Ratings Changes

Several brokerages recently weighed in on OLN. Royal Bank Of Canada set a $30.00 price target on shares of Olin and gave the stock a “sector perform” rating in a report on Friday, April 10th. Weiss Ratings reiterated a “sell (d)” rating on shares of Olin in a report on Friday, May 22nd. Wells Fargo & Company reiterated an “overweight” rating and issued a $37.00 price target on shares of Olin in a report on Sunday, May 10th. UBS Group increased their price target on shares of Olin from $29.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, May 13th. Finally, Truist Financial increased their price target on shares of Olin from $20.00 to $26.00 and gave the stock a “hold” rating in a report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Olin presently has an average rating of “Hold” and an average price target of $28.08.

Institutional Investors Weigh In On Olin

Institutional investors have recently added to or reduced their stakes in the stock. Choreo LLC acquired a new stake in Olin in the 3rd quarter valued at $726,000. Invenomic Capital Management LP acquired a new stake in Olin in the 3rd quarter valued at $5,761,000. SG Americas Securities LLC grew its stake in Olin by 142.0% in the 4th quarter. SG Americas Securities LLC now owns 455,757 shares of the specialty chemicals company’s stock valued at $9,493,000 after acquiring an additional 267,458 shares during the period. Harbor Capital Advisors Inc. grew its stake in Olin by 39.4% in the 4th quarter. Harbor Capital Advisors Inc. now owns 132,013 shares of the specialty chemicals company’s stock valued at $2,750,000 after acquiring an additional 37,289 shares during the period. Finally, Stanley Laman Group Ltd. acquired a new stake in Olin in the 4th quarter valued at $3,722,000. Institutional investors and hedge funds own 88.67% of the company’s stock.

Olin Price Performance

Shares of Olin stock traded down $1.53 during trading hours on Tuesday, reaching $23.77. The stock had a trading volume of 6,916,870 shares, compared to its average volume of 2,818,123. The stock’s 50 day moving average is $26.86 and its 200 day moving average is $24.69. The firm has a market capitalization of $2.71 billion, a PE ratio of -21.20 and a beta of 1.17. Olin has a twelve month low of $18.08 and a twelve month high of $30.46. The company has a current ratio of 1.36, a quick ratio of 0.82 and a debt-to-equity ratio of 1.73.

Olin Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Thursday, May 14th were paid a $0.20 dividend. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $0.80 dividend on an annualized basis and a yield of 3.4%. Olin’s dividend payout ratio (DPR) is currently -71.43%.

About Olin

Olin Corporation is a diversified manufacturer specializing in chemical products and ammunition. The company’s core business activities encompass the production and distribution of chlor-alkali products, epoxy resins and derivatives, and small-caliber ammunition under the Winchester brand. Olin’s chemical operations supply chlorine, caustic soda and related co-products to a wide range of end markets, including water treatment, pulp and paper, pharmaceuticals and general industrial applications.

In its Chlor Alkali Products & Vinyls segment, Olin operates multiple manufacturing facilities that produce chlorine and sodium hydroxide, along with vinyl chloride monomer and polyvinyl chloride (PVC) compounds.