Cwm LLC Grows Position in Olin Corporation (NYSE:OLN)

CWM LLC increased its stake in Olin Corporation (NYSE:OLN - Free Report) by 297.6% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 23,279 shares of the specialty chemicals company's stock after acquiring an additional 17,424 shares during the period. CWM LLC's holdings in Olin were worth $564,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of OLN. Cerity Partners LLC raised its stake in Olin by 47.4% in the first quarter. Cerity Partners LLC now owns 98,167 shares of the specialty chemicals company's stock worth $2,380,000 after buying an additional 31,579 shares in the last quarter. Allworth Financial LP grew its holdings in shares of Olin by 188.5% during the first quarter. Allworth Financial LP now owns 1,676 shares of the specialty chemicals company's stock valued at $37,000 after buying an additional 1,095 shares during the last quarter. Yacktman Asset Management LP boosted its holdings in Olin by 3.1% in the first quarter. Yacktman Asset Management LP now owns 4,020,243 shares of the specialty chemicals company's stock worth $97,451,000 after purchasing an additional 122,247 shares during the last quarter. M&T Bank Corp boosted its stake in shares of Olin by 75.4% during the 1st quarter. M&T Bank Corp now owns 14,118 shares of the specialty chemicals company's stock worth $342,000 after acquiring an additional 6,071 shares during the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. raised its position in shares of Olin by 3.5% during the 1st quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 57,760 shares of the specialty chemicals company's stock valued at $1,400,000 after purchasing an additional 1,960 shares during the period. Hedge funds and other institutional investors own 88.67% of the company's stock.

Olin Stock Performance

NYSE OLN traded up $0.54 on Friday, reaching $21.26. The stock had a trading volume of 2,439,475 shares, compared to its average volume of 1,966,510. The company has a market cap of $2.45 billion, a P/E ratio of 41.68 and a beta of 1.52. Olin Corporation has a 1-year low of $17.66 and a 1-year high of $49.60. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.56 and a quick ratio of 0.96. The firm has a fifty day moving average of $20.60 and a two-hundred day moving average of $23.83.

Olin (NYSE:OLN - Get Free Report) last posted its earnings results on Thursday, May 1st. The specialty chemicals company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.10) by $0.14. Olin had a return on equity of 3.13% and a net margin of 0.94%. The firm had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same period last year, the company earned $0.40 earnings per share. The business's quarterly revenue was up 1.2% on a year-over-year basis. On average, equities research analysts anticipate that Olin Corporation will post 1.38 EPS for the current year.

Olin Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Thursday, May 15th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.76%. Olin's payout ratio is 156.86%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Mizuho dropped their price target on shares of Olin from $25.00 to $24.00 and set a "neutral" rating for the company in a research note on Tuesday, July 15th. Wall Street Zen lowered shares of Olin from a "hold" rating to a "sell" rating in a research report on Friday, June 27th. KeyCorp decreased their price target on shares of Olin from $34.00 to $32.00 and set an "overweight" rating on the stock in a research note on Monday, July 14th. Wells Fargo & Company raised their target price on Olin from $19.00 to $22.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 6th. Finally, Truist Financial cut their target price on shares of Olin from $25.00 to $24.00 and set a "hold" rating on the stock in a research note on Monday, May 5th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $27.33.

About Olin

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.