Counterpoint Mutual Funds LLC Makes New $315,000 Investment in Olin Corporation $OLN

Key Points

• Counterpoint Mutual Funds LLC has made a new investment of approximately $315,000 in Olin Corporation by acquiring 15,704 shares in the 2nd quarter.
• Several institutional investors have also increased their stakes in Olin, with 88.67% of the stock now owned by such investors.
• Olin Corporation recently reported a quarterly earnings miss and a revenue increase of 7.0% compared to the same quarter last year, leading to mixed ratings from analysts.

Counterpoint Mutual Funds LLC acquired a new position in shares of Olin Corporation (NYSE:OLN - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 15,704 shares of the specialty chemicals company's stock, valued at approximately $315,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Olin in the 1st quarter valued at about $31,000. Fifth Third Bancorp increased its stake in shares of 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 during the last quarter. Envestnet Portfolio Solutions Inc. bought a new stake in shares of Olin in the 1st quarter valued at about $206,000. Intech Investment Management LLC increased its stake in shares of Olin by 48.2% in the 1st quarter. Intech Investment Management LLC now owns 90,214 shares of the specialty chemicals company's stock valued at $2,187,000 after acquiring an additional 29,344 shares during the last quarter. Finally, Sequoia Financial Advisors LLC bought a new stake in shares of Olin in the 1st quarter valued at about $247,000. 88.67% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on OLN. Mizuho lowered their price target on Olin from $24.00 to $23.00 and set a "neutral" rating for the company in a research note on Tuesday, July 29th. UBS Group lowered their price target on Olin from $23.00 to $22.00 and set a "neutral" rating for the company in a research note on Tuesday, July 29th. KeyCorp decreased their price objective on Olin from $32.00 to $31.00 and set an "overweight" rating for the company in a research report on Wednesday, July 30th. Wells Fargo & Company decreased their price objective on Olin from $22.00 to $21.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 30th. Finally, Wall Street Zen upgraded Olin from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Three equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, 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. 1.60% of the stock is owned by corporate insiders.

Olin Trading Up 3.2%

NYSE:OLN opened at $23.43 on Thursday. The company has a market cap of $2.69 billion, a P/E ratio of -195.21 and a beta of 1.61. Olin Corporation has a twelve month low of $17.66 and a twelve month high of $49.60. The business has a 50 day moving average price of $22.22 and a two-hundred day moving average price of $21.74. The company has a quick ratio of 0.88, a current ratio of 1.48 and a debt-to-equity ratio of 1.50.

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. As a group, analysts expect that Olin Corporation will post 1.38 EPS for the current fiscal year.

Olin Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Thursday, August 28th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend was Thursday, August 28th. Olin's dividend payout ratio (DPR) is currently -666.67%.

Olin 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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