Algert Global LLC Invests $801,000 in Olin Corporation $OLN

Key Points

• Algert Global LLC has invested approximately $801,000 in Olin Corporation by purchasing 33,050 shares during the first quarter.
• Olin Corporation's stock price has risen 10.0%, opening at $23.1240 recently.
• The company announced a quarterly dividend of $0.20 per share, which will be paid on September 12th, representing a 3.5% dividend yield.

Algert Global LLC purchased a new position in Olin Corporation (NYSE:OLN - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 33,050 shares of the specialty chemicals company's stock, valued at approximately $801,000.

Several other institutional investors have also recently made changes to their positions in OLN. Fifth Third Bancorp increased its holdings in shares of Olin by 160.5% in the first quarter. Fifth Third Bancorp now owns 1,206 shares of the specialty chemicals company's stock worth $29,000 after purchasing an additional 743 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Olin in the first quarter worth $31,000. Allworth Financial LP grew its position in Olin by 188.5% in the first quarter. Allworth Financial LP now owns 1,676 shares of the specialty chemicals company's stock worth $37,000 after acquiring an additional 1,095 shares in the last quarter. Farther Finance Advisors LLC increased its stake in Olin by 183.8% in the first quarter. Farther Finance Advisors LLC now owns 2,645 shares of the specialty chemicals company's stock valued at $63,000 after acquiring an additional 1,713 shares during the last quarter. Finally, Blue Trust Inc. increased its stake in Olin by 149.4% in the first quarter. Blue Trust Inc. now owns 4,080 shares of the specialty chemicals company's stock valued at $99,000 after acquiring an additional 2,444 shares during the last quarter. Institutional investors own 88.67% of the company's stock.

Olin Stock Up 10.0%

Shares of NYSE:OLN opened at $23.1240 on Friday. The stock's 50-day moving average price is $20.60 and its 200-day moving average price is $22.08. Olin Corporation has a 12-month low of $17.66 and a 12-month high of $49.60. The stock has a market capitalization of $2.65 billion, a P/E ratio of -192.70 and a beta of 1.55. The company has a current ratio of 1.48, a quick ratio of 0.88 and a debt-to-equity ratio of 1.50.

Olin (NYSE:OLN - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The specialty chemicals company reported $0.05 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.09 by ($0.04). Olin had a negative net margin of 0.21% and a negative return on equity of 0.13%. The company had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same period last year, the business posted $0.62 earnings per share. The firm's quarterly revenue was up 7.0% compared to the same quarter last year. On average, equities analysts anticipate that Olin Corporation will post 1.38 earnings per share for the current year.

Olin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Thursday, August 28th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Thursday, August 28th. Olin's dividend payout ratio (DPR) is -666.67%.

Wall Street Analyst Weigh In

OLN has been the topic of a number of research analyst reports. Royal Bank Of Canada reduced their target price on Olin from $25.00 to $23.00 and set a "sector perform" rating on the stock in a research note on Thursday, July 3rd. Wall Street Zen raised Olin from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. JPMorgan Chase & Co. reduced their target price on Olin from $28.00 to $20.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 6th. Citigroup reduced their target price on Olin from $26.00 to $25.00 and set a "buy" rating on the stock in a research note on Tuesday, July 8th. Finally, UBS Group reduced their target price on Olin from $23.00 to $22.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 29th. Three equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $25.57.

Insider Activity

In other news, VP Teresa M. Vermillion sold 6,000 shares of the firm's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $21.11, for a total transaction of $126,660.00. Following the transaction, the vice president directly owned 17,199 shares of the company's stock, valued at approximately $363,070.89. This trade represents a 25.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.60% of the company's stock.

About Olin

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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