Cerity Partners LLC grew its stake in Olin Corporation (NYSE:OLN - Free Report) by 47.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 98,167 shares of the specialty chemicals company's stock after purchasing an additional 31,579 shares during the period. Cerity Partners LLC owned about 0.09% of Olin worth $2,380,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Covestor Ltd lifted its position in shares of Olin by 45.8% during the 4th quarter. Covestor Ltd now owns 1,334 shares of the specialty chemicals company's stock valued at $45,000 after buying an additional 419 shares in the last quarter. Fifth Third Bancorp lifted its position 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 valued at $29,000 after buying an additional 743 shares in the last quarter. Xponance Inc. lifted its holdings in Olin by 5.9% in the 4th quarter. Xponance Inc. now owns 13,435 shares of the specialty chemicals company's stock valued at $454,000 after purchasing an additional 754 shares in the last quarter. Allworth Financial LP lifted its holdings 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 purchasing an additional 1,095 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in Olin in the 1st quarter valued at $31,000. Hedge funds and other institutional investors own 88.67% of the company's stock.
Olin Trading Down 2.3%
Olin stock traded down $0.48 during trading hours on Friday, reaching $20.40. 2,336,313 shares of the company's stock were exchanged, compared to its average volume of 1,753,754. The company has a quick ratio of 0.96, a current ratio of 1.56 and a debt-to-equity ratio of 1.48. The firm's 50 day simple moving average is $20.68 and its 200 day simple moving average is $24.03. The firm has a market capitalization of $2.35 billion, a PE ratio of 40.00 and a beta of 1.52. Olin Corporation has a twelve month low of $17.66 and a twelve month high of $49.60.
Olin (NYSE:OLN - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The specialty chemicals company reported $0.04 EPS for the quarter, topping analysts' consensus estimates of ($0.10) by $0.14. Olin had a net margin of 0.94% and a return on equity of 3.13%. The company had revenue of $1.64 billion for the quarter, compared to analysts' expectations of $1.58 billion. During the same quarter in the previous year, the firm posted $0.40 EPS. Olin's revenue was up 1.2% on a year-over-year basis. Research analysts predict that Olin Corporation will post 1.38 earnings per share for the current year.
Olin Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Thursday, May 15th were given a $0.20 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $0.80 annualized dividend and a yield of 3.92%. Olin's dividend payout ratio (DPR) is presently 156.86%.
Analyst Ratings Changes
A number of research firms recently weighed in on OLN. Mizuho cut their target price on shares of Olin from $25.00 to $24.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 15th. JPMorgan Chase & Co. cut their price target on Olin from $28.00 to $20.00 and set a "neutral" rating for the company in a research note on Tuesday, May 6th. Truist Financial cut their price target on Olin from $25.00 to $24.00 and set a "hold" rating for the company in a research note on Monday, May 5th. Wells Fargo & Company raised their target price on Olin from $19.00 to $22.00 and gave the company an "equal weight" rating in a report on Tuesday, May 6th. Finally, UBS Group upped their target price on Olin from $22.00 to $23.00 and gave the company a "neutral" rating in a report on Wednesday, July 9th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $27.33.
Read Our Latest Analysis on Olin
Olin Profile
(
Free Report)
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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