Arete Wealth Advisors LLC Makes New Investment 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 position in Olin Corporation (NYSE:OLN - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 78,246 shares of the specialty chemicals company's stock, valued at approximately $1,897,000. Arete Wealth Advisors LLC owned about 0.07% of Olin as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Fifth Third Bancorp lifted its position in Olin by 160.5% in the 1st quarter. Fifth Third Bancorp now owns 1,206 shares of the specialty chemicals company's stock valued at $29,000 after acquiring an additional 743 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in Olin in the 1st quarter valued at approximately $31,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Olin in the 1st quarter valued at approximately $32,000. Allworth Financial LP lifted its position in Olin by 188.5% in the 1st quarter. Allworth Financial LP now owns 1,676 shares of the specialty chemicals company's stock valued at $37,000 after acquiring an additional 1,095 shares in the last quarter. Finally, Quarry LP bought a new position in Olin in the 1st quarter valued at approximately $45,000. 88.67% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, VP Teresa M. Vermillion sold 6,000 shares of the firm's stock in a transaction 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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.70% of the company's stock.

Wall Street Analyst Weigh In

OLN has been the topic of several analyst reports. Royal Bank Of Canada lowered their price objective on Olin from $25.00 to $23.00 and set a "sector perform" rating on the stock in a research report on Thursday, July 3rd. Mizuho lowered their price objective on Olin from $24.00 to $23.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 29th. KeyCorp lowered their price target on Olin from $32.00 to $31.00 and set an "overweight" rating on the stock in a report on Wednesday, July 30th. UBS Group lowered their price target on Olin from $23.00 to $22.00 and set a "neutral" rating on the stock in a report on Tuesday, July 29th. Finally, Wall Street Zen raised Olin from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Three analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $25.57.

Olin Stock Performance

Shares of NYSE OLN traded down $0.54 during midday trading on Friday, hitting $26.39. 2,179,094 shares of the stock traded hands, compared to its average volume of 2,215,332. The firm has a 50-day moving average of $21.79 and a two-hundred day moving average of $21.72. The firm has a market capitalization of $3.03 billion, a P/E ratio of -219.92 and a beta of 1.61. 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 Corporation has a one year low of $17.66 and a one year high of $49.60.

Olin (NYSE:OLN - Get Free Report) last announced 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). Olin had a negative return on equity of 0.13% and a negative net margin of 0.21%.The company had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same period in the prior year, the business posted $0.62 earnings per share. Olin's revenue for the quarter was up 7.0% compared to the same quarter last year. On average, equities analysts forecast that Olin Corporation will post 1.38 EPS for the current fiscal year.

Olin Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Thursday, August 28th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend was 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.