A Director at Olin (NYSE: OLN) is Selling Shares

By Carrie Williams

Today, a Director at Olin (OLNResearch Report), Gray Benoist, sold shares of OLN for $1.07M.

Following Gray Benoist’s last OLN Sell transaction on February 16, 2016, the stock climbed by 33.3%.

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Based on Olin’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $1.92 billion and quarterly net profit of $244 million. In comparison, last year the company earned revenue of $1.43 billion and had a GAAP net loss of $80 million. The company has a one-year high of $45.42 and a one-year low of $9.67. OLN’s market cap is $7.12 billion and the company has a P/E ratio of -10.40.

Based on 11 analyst ratings, the analyst consensus is Strong Buy with an average price target of $53.56, reflecting a -17.0% downside.

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Olin Corp. engages in manufacturing of chemicals products. It operates through the following segments: Chlor Alkali Products and Vinyls, Epoxy, and Winchester. The Chlor Alkali Products and Vinyls segment manufactures and sells chlorine and caustic soda, ethylene dichloride and vinyl chloride monomer, methyl chloride, methylene chloride, chloroform, carbon tetrachloride, perchloroethylene, trichloroethylene and vinylidene chloride, hydrochloric acid, hydrogen, bleach products and potassium hydroxide. . The Epoxy segment produces and sells epoxy materials, which includes allyl chloride, epichlorohydrin, liquid epoxy resins and downstream products such as converted epoxy resins and additives. The Winchester segment produces and sells sporting ammunition, reloading components, small caliber military ammunition and components, and industrial cartridges. The company was founded by Franklin W. Olin in 1892 and is headquartered in Clayton, MO.