Investors Buy Large Volume of Put Options on Olin (NYSE:OLN)

Olin Co. (NYSE:OLNGet Rating) saw unusually large options trading on Friday. Stock investors acquired 25,190 put options on the company. This is an increase of 2,110% compared to the average volume of 1,140 put options.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Wells Fargo & Company cut their target price on Olin from $78.00 to $69.00 and set an “overweight” rating on the stock in a report on Monday, August 1st. Royal Bank of Canada decreased their target price on Olin from $70.00 to $58.00 and set an “outperform” rating for the company in a research report on Wednesday. Barclays decreased their target price on Olin from $65.00 to $52.00 and set an “equal weight” rating for the company in a research report on Monday, July 11th. Credit Suisse Group initiated coverage on Olin in a research report on Tuesday, September 6th. They set an “underperform” rating and a $51.00 target price for the company. Finally, Bank of America decreased their target price on Olin from $69.00 to $62.00 in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Olin presently has an average rating of “Moderate Buy” and an average target price of $63.75.

Olin Stock Performance

OLN traded down $1.54 during trading hours on Friday, hitting $43.70. The stock had a trading volume of 29,421 shares, compared to its average volume of 1,624,052. The company’s fifty day simple moving average is $52.42 and its 200 day simple moving average is $54.27. Olin has a 1 year low of $43.02 and a 1 year high of $67.25. The stock has a market cap of $6.34 billion, a PE ratio of 4.76, a price-to-earnings-growth ratio of 1.45 and a beta of 1.31. The company has a quick ratio of 0.93, a current ratio of 1.44 and a debt-to-equity ratio of 0.96.

Olin Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Wednesday, August 10th were paid a $0.20 dividend. The ex-dividend date was Tuesday, August 9th. This represents a $0.80 annualized dividend and a yield of 1.83%. Olin’s dividend payout ratio is currently 8.41%.

Insider Transactions at Olin

In related news, COO James A. Varilek sold 3,345 shares of the stock in a transaction on 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 in the company, valued at approximately $1,026,763.41. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 9.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Olin by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 15,867,281 shares of the specialty chemicals company’s stock worth $829,542,000 after purchasing an additional 493,052 shares during the period. BlackRock Inc. boosted its stake in Olin by 3.1% in the 1st quarter. BlackRock Inc. now owns 15,796,238 shares of the specialty chemicals company’s stock worth $825,827,000 after purchasing an additional 472,527 shares during the period. FMR LLC boosted its stake in Olin by 0.8% in the 2nd quarter. FMR LLC now owns 7,346,926 shares of the specialty chemicals company’s stock worth $340,017,000 after purchasing an additional 58,801 shares during the period. State Street Corp boosted its stake in Olin by 0.6% in the 1st quarter. State Street Corp now owns 5,581,714 shares of the specialty chemicals company’s stock worth $291,812,000 after purchasing an additional 31,587 shares during the period. Finally, Invesco Ltd. boosted its stake in Olin by 37.3% in the 4th quarter. Invesco Ltd. now owns 4,391,847 shares of the specialty chemicals company’s stock worth $252,618,000 after purchasing an additional 1,193,359 shares during the period. Institutional investors own 87.92% of the company’s stock.

About Olin

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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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