Shares of Olin Corporation (OLN) Sees Large Outflow of Money

Olin Corporation (OLN) :The total money flow, which is calculated as the dollar value of composite uptick minus downtick trades was negative ($1.13 million) and the uptick to downtick ratio was 0.63. The transaction value on upticks was $1.91 million and on downticks, the transaction value was $3.05 million. In block trades, the transaction value of inflow done during uptick was $0.22 million. The transaction value of block trades during downticks was $1.45 million. The uptick to downtick block trade ratio was 0.15. The money flow was negative ($1.23 million), indicating the traders were booking profit on the price strength. Olin Corporation (OLN) rose $0.02 at $21.85, during intraday Tuesday , a rise of 0.09% over the previous days close.


Also, Equity Analysts at the Cowen & Company upgrades the rating on Olin Corporation (NYSE:OLN). The brokerage firm has issued a Outperform rating on the shares. The shares were previously rated Market Perform. The rating by the firm was issued on June 28, 2016.

Olin Corp. has dropped 0.51% in the last five trading days, however, the shares have posted positive gains of 4.41% in the last 4 weeks. Olin Corp. has dropped 4.52% during the last 3-month period . Year-to-Date the stock performance stands at 29.21%.

Olin Corporation (NYSE:OLN): The stock opened at $21.77 on Tuesday but the bulls could not build on the opening and the stock topped out at $22.04 for the day. The stock traded down to $21.39 during the day, due to lack of any buying support eventually closed down at $21.56 with a loss of -1.24% for the day. The stock had closed at $21.83 on the previous day. The total traded volume was 1,862,015 shares.

In a related news, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the director of Olin Corp, Larrimore Randall W, had purchased 1,600 shares in a transaction dated on March 1, 2016. The transaction was executed at $15.45 per share with total amount equaling $24,720.

Olin Corporation is a manufacturing company. The Company operates in three segments: Chlor Alkali Products, Chemical Distribution and Winchester. Chlor Alkali Products manufactures and sells chlorine and caustic soda, hydrochloric acid, hydrogen, bleach products and potassium hydroxide. Chemical Distribution manufactures bleach products and distributes caustic soda, bleach products, potassium hydroxide and hydrochloric acid. Winchester products segments include sporting ammunition, reloading components, small caliber military ammunition and components and industrial cartridges. The Companys subsidiary, Olin Canada ULC, operates one chlor alkali facility in Becancour, Canada, which sells chlor alkali-related products within Canada and to the United States and also sells and distributes ammunition within Canada. Its subsidiary, Winchester Australia Limited, loads and packs sporting and industrial ammunition in Australia.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.