Olin Corporation $OLN Shares Acquired by Canada Pension Plan Investment Board

Key Points

• The Canada Pension Plan Investment Board increased its stake in Olin Corporation by 59.6%, acquiring an additional 49,200 shares, bringing its total ownership to approximately 131,800 shares valued at $3,195,000.
• Olin Corporation reported a quarterly EPS of $0.05, missing estimates by $0.04, while its revenue of $1.76 billion surpassed consensus estimates of $1.68 billion, indicating a 7% increase year-over-year.
• The company has declared a quarterly dividend of $0.20 per share, projected to yield 3.4% annually, with the dividend payout ratio currently at -666.67%.

Canada Pension Plan Investment Board grew its stake in Olin Corporation (NYSE:OLN - Free Report) by 59.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 131,800 shares of the specialty chemicals company's stock after purchasing an additional 49,200 shares during the period. Canada Pension Plan Investment Board owned about 0.11% of Olin worth $3,195,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Fifth Third Bancorp boosted 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 worth $29,000 after purchasing an additional 743 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Olin during the 1st quarter worth approximately $31,000. Allworth Financial LP raised its stake 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 raised its stake 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 acquired a new position in shares of Olin during the 1st quarter worth approximately $88,000. Hedge funds and other institutional investors own 88.67% of the company's stock.

Olin Trading Up 4.9%

Shares of NYSE OLN traded up $1.19 during mid-day trading on Friday, reaching $25.27. 3,081,629 shares of the company's stock were exchanged, compared to its average volume of 2,090,593. The firm has a market capitalization of $2.90 billion, a price-to-earnings ratio of -210.57 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 52-week low of $17.66 and a 52-week high of $49.60. The company's 50-day moving average is $21.35 and its 200-day moving average is $21.77.

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 net margin of 0.21% and a negative return on equity of 0.13%. The firm had revenue of $1.76 billion for the quarter, compared to analysts' expectations of $1.68 billion. During the same quarter last year, the business earned $0.62 earnings per share. The business's revenue was up 7.0% compared to the same quarter last year. Analysts expect that Olin Corporation will post 1.38 EPS for the current fiscal year.

Olin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Thursday, August 28th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Thursday, August 28th. Olin's dividend payout ratio (DPR) is presently -666.67%.

Analyst Ratings Changes

Several research analysts recently commented on OLN shares. Wall Street Zen raised Olin from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Barclays reduced their price objective on Olin from $28.00 to $24.00 and set an "equal weight" rating for the company in a research note on Wednesday, May 28th. KeyCorp reduced their price objective on Olin from $32.00 to $31.00 and set an "overweight" rating for the company in a research note on Wednesday, July 30th. Citigroup reduced their price objective on Olin from $26.00 to $25.00 and set a "buy" rating for the company in a research note on Tuesday, July 8th. Finally, Wells Fargo & Company cut 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 analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Olin currently has a consensus rating of "Hold" and a consensus price target of $25.57.

Insider Activity

In other news, VP Teresa M. Vermillion sold 6,000 shares of Olin stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $21.11, for a total value of $126,660.00. Following the completion of the transaction, the vice president owned 17,199 shares in the company, valued at approximately $363,070.89. This trade represents a 25.86% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.60% of the company's stock.

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.