Arete Wealth Advisors LLC Purchases New Position in Olin Corporation $OLN

Key Points

• Arete Wealth Advisors LLC acquired a new stake in Olin Corporation during Q1, purchasing 78,246 shares valued at approximately $1.9 million, representing 0.07% ownership.
• Various hedge funds increased their holdings in Olin, with notable increases including Hotchkis & Wiley Capital Management raising by 11.5% and Fuller & Thaler Asset Management by 40.5% during the same period.
• Olin recently declared a quarterly dividend of $0.20 per share, reflecting an annualized dividend of $0.80, despite a negative current dividend payout ratio of -666.67%.

Arete Wealth Advisors LLC purchased a new stake in Olin Corporation (NYSE:OLN - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm purchased 78,246 shares of the specialty chemicals company's stock, valued at approximately $1,897,000. Arete Wealth Advisors LLC owned 0.07% of Olin at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Hotchkis & Wiley Capital Management LLC raised its position in shares of Olin by 11.5% in 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 during the period. Vanguard Group Inc. raised its position in shares of Olin by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 11,748,584 shares of the specialty chemicals company's stock valued at $284,786,000 after acquiring an additional 245,604 shares during the period. Fuller & Thaler Asset Management Inc. raised its position 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 acquiring an additional 1,840,900 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Olin by 14.3% in 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 during the period. Finally, Yacktman Asset Management LP raised its position in shares of Olin by 3.1% in the 1st quarter. Yacktman Asset Management LP now owns 4,020,243 shares of the specialty chemicals company's stock valued at $97,451,000 after acquiring an additional 122,247 shares during the period. 88.67% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on OLN. Wall Street Zen upgraded shares of Olin from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Morgan Stanley cut their price target on shares of Olin from $28.00 to $20.00 and set an "underweight" rating on the stock in a research report on Monday, May 12th. KeyCorp lowered their target price on Olin from $32.00 to $31.00 and set an "overweight" rating for the company in a research note on Wednesday, July 30th. UBS Group lowered their target price on Olin from $23.00 to $22.00 and set a "neutral" rating for the company in a research note on Tuesday, July 29th. Finally, Wells Fargo & Company lowered their target price on Olin from $22.00 to $21.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 30th. Three equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $25.57.

Insider Buying and Selling at Olin

In other news, VP Teresa M. Vermillion sold 6,000 shares of the firm's stock in a transaction that occurred on 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 transaction, the vice president directly owned 17,199 shares of the company's stock, valued at $363,070.89. This trade represents a 25.86% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.70% of the stock is owned by corporate insiders.

Olin Price Performance

NYSE OLN opened at $25.03 on Tuesday. The stock has a market cap of $2.87 billion, a price-to-earnings ratio of -208.60 and a beta of 1.61. Olin Corporation has a 52-week low of $17.66 and a 52-week high of $49.60. The business has a 50 day simple moving average of $21.45 and a 200 day simple moving average of $21.71. 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 issued its quarterly earnings results on Monday, July 28th. The specialty chemicals company reported $0.05 earnings per share for the quarter, missing the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the business earned $0.62 earnings per share. Analysts anticipate that Olin Corporation will post 1.38 earnings per share for the current fiscal year.

Olin Dividend Announcement

The firm also recently declared 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 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Thursday, August 28th. Olin's dividend payout ratio (DPR) is currently -666.67%.

Olin Company 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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