Allianz Asset Management GmbH Sells 465,328 Shares of Olin Corporation $OLN

Allianz Asset Management GmbH decreased its holdings in Olin Corporation (NYSE:OLN - Free Report) by 84.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 84,568 shares of the specialty chemicals company's stock after selling 465,328 shares during the period. Allianz Asset Management GmbH owned approximately 0.07% of Olin worth $1,699,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of OLN. Fuller & Thaler Asset Management Inc. increased its stake in shares of Olin by 40.5% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 6,384,744 shares of the specialty chemicals company's stock valued at $154,766,000 after purchasing an additional 1,840,900 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its holdings in shares of Olin by 11.5% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 12,191,163 shares of the specialty chemicals company's stock valued at $295,514,000 after acquiring an additional 1,259,795 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Olin by 14.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,546,352 shares of the specialty chemicals company's stock valued at $110,204,000 after acquiring an additional 569,483 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of Olin by 52.5% during the 1st quarter. AQR Capital Management LLC now owns 1,288,202 shares of the specialty chemicals company's stock valued at $31,226,000 after acquiring an additional 443,210 shares in the last quarter. Finally, Jump Financial LLC boosted its holdings in shares of Olin by 300.3% during the 1st quarter. Jump Financial LLC now owns 339,392 shares of the specialty chemicals company's stock valued at $8,227,000 after acquiring an additional 254,601 shares in the last quarter. Institutional investors own 88.67% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on OLN shares. Citigroup downgraded Olin from a "buy" rating to a "neutral" rating and set a $25.00 price objective on the stock. in a report on Thursday, October 2nd. Weiss Ratings reissued a "sell (d+)" rating on shares of Olin in a report on Saturday. Wall Street Zen raised Olin from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Royal Bank Of Canada set a $26.00 price objective on Olin and gave the company a "sector perform" rating in a report on Tuesday, October 14th. Finally, Mizuho set a $26.00 target price on Olin in a report on Friday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $25.71.

Olin Stock Performance

OLN stock opened at $24.05 on Friday. The stock has a 50-day moving average price of $24.03 and a 200-day moving average price of $21.85. Olin Corporation has a 1-year low of $17.66 and a 1-year high of $44.76. The company has a current ratio of 1.48, a quick ratio of 0.88 and a debt-to-equity ratio of 1.50. The firm has a market cap of $2.76 billion, a PE ratio of -200.44 and a beta of 1.68.

Olin (NYSE:OLN - Get Free Report) last issued its earnings results on Monday, July 28th. The specialty chemicals company reported $0.05 EPS for the quarter, missing analysts' consensus estimates of $0.09 by ($0.04). The firm had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.68 billion. Olin had a negative net margin of 0.21% and a negative return on equity of 0.13%. The business's quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.62 earnings per share. As a group, equities research analysts expect 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 was paid on Friday, September 12th. Shareholders of record on Thursday, August 28th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend was Thursday, August 28th. Olin's payout ratio is currently -666.67%.

Insider Buying and Selling

In other news, VP Teresa M. Vermillion sold 6,000 shares of the business's stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $21.11, for a total value of $126,660.00. Following the transaction, the vice president owned 17,199 shares in the company, valued at $363,070.89. The trade was a 25.86% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate 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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