AlphaQuest LLC Has $109,000 Holdings in Olin Corporation $OLN

Key Points

• AlphaQuest LLC significantly reduced its stake in Olin Corporation by 77%, now holding only 4,510 shares valued at approximately $109,000.
• Several other institutional investors, including Fifth Third Bancorp and Mirae Asset Global Investments, have increased their positions in Olin, indicating shifting interest in the company.
• Olin Corporation reported earnings per share (EPS) of $0.05 for the last quarter, missing estimates, while also declaring a quarterly dividend of $0.20 per share, yielding 3.4% annually.

AlphaQuest LLC decreased its holdings in shares of Olin Corporation (NYSE:OLN - Free Report) by 77.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,510 shares of the specialty chemicals company's stock after selling 15,083 shares during the quarter. AlphaQuest LLC's holdings in Olin were worth $109,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Fifth Third Bancorp boosted its holdings in shares of Olin by 160.5% during the 1st quarter. Fifth Third Bancorp now owns 1,206 shares of the specialty chemicals company's stock worth $29,000 after buying an additional 743 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Olin during the 1st quarter worth $31,000. Allworth Financial LP boosted its holdings in shares of Olin by 188.5% during the 1st quarter. Allworth Financial LP now owns 1,676 shares of the specialty chemicals company's stock worth $37,000 after buying an additional 1,095 shares during the period. Farther Finance Advisors LLC boosted its holdings in shares of Olin by 183.8% during the 1st quarter. Farther Finance Advisors LLC now owns 2,645 shares of the specialty chemicals company's stock worth $63,000 after buying an additional 1,713 shares during the period. Finally, Summit Securities Group LLC bought a new stake in shares of Olin during the 1st quarter worth $88,000. 88.67% of the stock is owned by institutional investors.

Analyst Ratings Changes

OLN has been the subject of several recent analyst reports. Mizuho decreased their price objective on shares of Olin from $24.00 to $23.00 and set a "neutral" rating for the company in a report on Tuesday, July 29th. Citigroup reduced their price target on shares of Olin from $26.00 to $25.00 and set a "buy" rating for the company in a report on Tuesday, July 8th. UBS Group reduced their price target on shares of Olin from $23.00 to $22.00 and set a "neutral" rating for the company in a report on Tuesday, July 29th. Wall Street Zen raised shares of Olin from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Finally, Royal Bank Of Canada reduced their price target on shares of Olin from $25.00 to $23.00 and set a "sector perform" rating for the company in a report on Thursday, July 3rd. Three 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.com, Olin has an average rating of "Hold" and an average target price of $25.57.

Olin Price Performance

Shares of NYSE:OLN traded up $0.76 during midday trading on Thursday, reaching $24.09. 3,356,932 shares of the company's stock were exchanged, compared to its average volume of 2,088,971. The company's 50 day simple moving average is $21.17 and its two-hundred day simple moving average is $21.86. The firm has a market capitalization of $2.76 billion, a PE ratio of -200.71 and a beta of 1.61. Olin Corporation has a 12 month low of $17.66 and a 12 month high of $49.60. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.88 and a current ratio of 1.48.

Olin (NYSE:OLN - Get Free Report) last released its quarterly earnings data 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 business had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.68 billion. Olin had a negative return on equity of 0.13% and a negative net margin of 0.21%.Olin's revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.62 earnings per share. Equities research analysts expect that Olin Corporation will post 1.38 earnings per share for the current fiscal year.

Olin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Thursday, August 28th will be given a dividend of $0.20 per share. The ex-dividend date is Thursday, August 28th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.3%. Olin's dividend payout ratio (DPR) is -666.67%.

Insider Activity

In related news, VP Teresa M. Vermillion sold 6,000 shares of the stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $21.11, for a total transaction of $126,660.00. Following the completion of the sale, the vice president owned 17,199 shares in the company, valued at $363,070.89. This trade represents a 25.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.60% of the stock is owned by company insiders.

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.