Olin Co. (NYSE:OLN) Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its position in Olin Co. (NYSE:OLN – Get Rating) by 20.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 489,248 shares of the specialty chemicals company’s stock after acquiring an additional 83,996 shares during the period. JPMorgan Chase & Co.’s holdings in Olin were worth $25,901,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. HighTower Advisors LLC grew its stake in shares of Olin by 10.4% in the first quarter. HighTower Advisors LLC now owns 7,760 shares of the specialty chemicals company’s stock worth $407,000 after acquiring an additional 728 shares during the last quarter. Private Advisor Group LLC acquired a new stake in shares of Olin during the 1st quarter worth $230,000. Acadian Asset Management LLC acquired a new stake in shares of Olin during the first quarter valued at about $53,000. Great West Life Assurance Co. Can lifted its stake in shares of Olin by 8.7% in the first quarter. Great West Life Assurance Co. Can now owns 82,375 shares of the specialty chemicals company’s stock worth $4,437,000 after acquiring an additional 6,589 shares during the period. Finally, U.S. Capital Wealth Advisors LLC increased its holdings in shares of Olin by 5.8% during the first quarter. U.S. Capital Wealth Advisors LLC now owns 4,714 shares of the specialty chemicals company’s stock valued at $246,000 after acquiring an additional 259 shares in the last quarter. Institutional investors own 85.77% of the company’s stock.

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Olin Trading Down 0.4 %

Shares of NYSE OLN opened at $51.51 on Monday. The firm has a 50-day moving average of $53.97 and a 200 day moving average of $55.57. Olin Co. has a 1 year low of $41.33 and a 1 year high of $64.70. The stock has a market cap of $6.66 billion, a P/E ratio of 6.84, a price-to-earnings-growth ratio of 0.92 and a beta of 1.45. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.60 and a quick ratio of 0.84.

Olin (NYSE:OLN – Get Rating) last issued its earnings results on Friday, April 28th. The specialty chemicals company reported $1.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by ($0.12). Olin had a return on equity of 42.24% and a net margin of 12.45%. The business had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $2.05 billion. During the same quarter in the previous year, the company earned $2.48 earnings per share. The firm’s revenue was down 25.1% on a year-over-year basis. As a group, sell-side analysts expect that Olin Co. will post 5.49 EPS for the current fiscal year.

Olin Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 9th. Stockholders of record on Thursday, May 11th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.55%. The ex-dividend date was Wednesday, May 10th. Olin’s payout ratio is currently 10.62%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Stifel Nicolaus lifted their target price on shares of Olin from $89.00 to $90.00 in a research report on Monday, May 1st. StockNews.com downgraded Olin from a “buy” rating to a “hold” rating in a research report on Friday, May 26th. Royal Bank of Canada boosted their price target on Olin from $74.00 to $76.00 in a research note on Monday, May 1st. Finally, Piper Sandler dropped their price target on Olin from $83.00 to $80.00 in a research report on Tuesday, May 2nd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $67.67.

Olin Profile

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Olin Corporation manufactures and distributes chemical products in the United States, Europe, Asia Pacific, Latin America, and Canada. 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, and chlorinated organics intermediates and solvents.

Further Reading

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