Olin Corporation (NYSE:OLN) Shares Acquired by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management GmbH significantly increased its stake in Olin Corporation by 43.7%, acquiring an additional 167,181 shares, bringing its total ownership to approximately 549,896 shares valued at $13.3 million.
• Olin Corporation reported a quarterly earnings per share of $0.04, exceeding estimates by $0.14, with revenues reaching $1.64 billion for the quarter, slightly above analyst expectations.
• The company recently announced a quarterly dividend of $0.20 per share, which represents an annualized yield of 3.76%, despite a high dividend payout ratio of 156.86%.

Allianz Asset Management GmbH grew its stake in shares of Olin Corporation (NYSE:OLN - Free Report) by 43.7% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 549,896 shares of the specialty chemicals company's stock after acquiring an additional 167,181 shares during the period. Allianz Asset Management GmbH owned about 0.48% of Olin worth $13,329,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of OLN. HighTower Advisors LLC raised its stake in shares of Olin by 44.4% during the fourth quarter. HighTower Advisors LLC now owns 12,006 shares of the specialty chemicals company's stock valued at $406,000 after acquiring an additional 3,692 shares in the last quarter. Natixis Advisors LLC bought a new stake in shares of Olin during the fourth quarter valued at approximately $431,000. Corient Private Wealth LLC raised its stake in shares of Olin by 6.8% during the fourth quarter. Corient Private Wealth LLC now owns 21,724 shares of the specialty chemicals company's stock valued at $734,000 after acquiring an additional 1,374 shares in the last quarter. Teacher Retirement System of Texas raised its stake in shares of Olin by 131.2% during the fourth quarter. Teacher Retirement System of Texas now owns 58,873 shares of the specialty chemicals company's stock valued at $1,990,000 after acquiring an additional 33,405 shares in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of Olin during the fourth quarter valued at approximately $1,051,000. Institutional investors own 88.67% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on OLN. JPMorgan Chase & Co. reduced their price objective on shares of Olin from $28.00 to $20.00 and set a "neutral" rating for the company in a research note on Tuesday, May 6th. Truist Financial reduced their price objective on shares of Olin from $25.00 to $24.00 and set a "hold" rating for the company in a research note on Monday, May 5th. KeyCorp reduced their price objective on shares of Olin from $34.00 to $32.00 and set an "overweight" rating for the company in a research note on Monday, July 14th. Royal Bank Of Canada reduced their price objective on shares of Olin from $25.00 to $23.00 and set a "sector perform" rating for the company in a research note on Thursday, July 3rd. Finally, Piper Sandler cut their price target on shares of Olin from $33.00 to $26.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $27.20.

Olin Stock Performance

Shares of NYSE OLN traded up $0.80 during trading on Tuesday, reaching $21.63. 1,906,061 shares of the company traded hands, compared to its average volume of 1,972,007. The firm's fifty day simple moving average is $20.61 and its 200 day simple moving average is $23.57. The stock has a market cap of $2.49 billion, a P/E ratio of 42.41 and a beta of 1.52. Olin Corporation has a 12-month low of $17.66 and a 12-month high of $49.60. The company has a current ratio of 1.56, a quick ratio of 0.96 and a debt-to-equity ratio of 1.48.

Olin (NYSE:OLN - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The specialty chemicals company reported $0.04 earnings per share for the quarter, beating analysts' consensus estimates of ($0.10) by $0.14. The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.58 billion. Olin had a return on equity of 3.13% and a net margin of 0.94%. The company's revenue was up 1.2% on a year-over-year basis. During the same quarter last year, the business posted $0.40 EPS. As a group, research analysts anticipate that Olin Corporation will post 1.38 earnings per share for the current fiscal year.

Olin Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Thursday, May 15th were given a $0.20 dividend. The ex-dividend date was Thursday, May 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.70%. Olin's dividend payout ratio (DPR) is currently 156.86%.

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.