Xponance Inc. decreased its holdings in Olin Co. (NYSE:OLN – Free Report) by 9.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,730 shares of the specialty chemicals company’s stock after selling 1,564 shares during the quarter. Xponance Inc.’s holdings in Olin were worth $757,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of OLN. HighTower Advisors LLC raised its stake in Olin by 10.4% in the 1st quarter. HighTower Advisors LLC now owns 7,760 shares of the specialty chemicals company’s stock worth $407,000 after purchasing an additional 728 shares in the last quarter. Private Advisor Group LLC acquired a new stake in Olin in the 1st quarter worth about $230,000. Acadian Asset Management LLC acquired a new stake in Olin in the 1st quarter worth about $53,000. Great West Life Assurance Co. Can raised its stake in Olin by 8.7% in the 1st quarter. Great West Life Assurance Co. Can now owns 82,375 shares of the specialty chemicals company’s stock worth $4,437,000 after purchasing an additional 6,589 shares in the last quarter. Finally, U.S. Capital Wealth Advisors LLC raised its stake in Olin by 5.8% in the 1st quarter. U.S. Capital Wealth Advisors LLC now owns 4,714 shares of the specialty chemicals company’s stock worth $246,000 after purchasing an additional 259 shares in the last quarter. Institutional investors and hedge funds own 85.69% of the company’s stock.
Analysts Set New Price Targets
Several brokerages have weighed in on OLN. Morgan Stanley reiterated an “underweight” rating and issued a $50.00 price objective on shares of Olin in a research note on Tuesday, August 1st. Wells Fargo & Company lowered shares of Olin from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $65.00 to $50.00 in a report on Tuesday. Barclays decreased their target price on shares of Olin from $64.00 to $60.00 and set an “overweight” rating on the stock in a report on Tuesday, September 5th. UBS Group lowered shares of Olin from a “buy” rating to a “neutral” rating and decreased their target price for the company from $68.00 to $53.00 in a report on Tuesday, June 27th. Finally, Royal Bank of Canada raised their target price on shares of Olin from $63.00 to $67.00 and gave the company an “outperform” rating in a report on Monday, July 31st. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $61.23.
Insiders Place Their Bets
In other Olin news, VP Damian Gumpel sold 800 shares of the business’s stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $55.39, for a total transaction of $44,312.00. Following the sale, the vice president now directly owns 27,651 shares of the company’s stock, valued at approximately $1,531,588.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, VP Brett A. Flaugher sold 11,250 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $58.95, for a total value of $663,187.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Damian Gumpel sold 800 shares of the business’s stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $55.39, for a total transaction of $44,312.00. Following the completion of the transaction, the vice president now owns 27,651 shares in the company, valued at approximately $1,531,588.89. The disclosure for this sale can be found here. Insiders have sold 24,174 shares of company stock valued at $1,414,639 in the last ninety days. 1.60% of the stock is currently owned by insiders.
Olin Trading Up 3.1 %
Shares of Olin stock opened at $49.98 on Friday. The firm has a market capitalization of $6.29 billion, a PE ratio of 8.47, a price-to-earnings-growth ratio of 1.62 and a beta of 1.45. The company has a current ratio of 1.58, a quick ratio of 0.80 and a debt-to-equity ratio of 1.10. The firm’s 50 day moving average is $53.99 and its 200 day moving average is $53.45. Olin Co. has a 1 year low of $41.84 and a 1 year high of $64.70.
Olin (NYSE:OLN – Get Free Report) last announced its quarterly earnings results on Friday, July 28th. The specialty chemicals company reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.09. Olin had a net margin of 10.39% and a return on equity of 32.28%. The company had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same period in the previous year, the firm posted $2.76 EPS. The firm’s revenue was down 34.9% on a year-over-year basis. Equities research analysts forecast that Olin Co. will post 4.16 earnings per share for the current fiscal year.
Olin Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Thursday, August 10th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend was Wednesday, August 9th. Olin’s payout ratio is 13.56%.
Olin Profile
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.
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