Dimensional Fund Advisors LP Grows Position in Olin Corporation $OLN

Key Points

• Dimensional Fund Advisors LP increased its stake in Olin Corporation by 14.3% in the first quarter, now owning approximately 4.55 million shares valued at $110.20 million.
• Olin Corporation reported a $0.05 EPS for the last quarter, missing consensus estimates, and its revenue was up 7.0% year-over-year at $1.76 billion.
• The company declared a quarterly dividend of $0.20, translating to a 3.5% yield, to be paid to shareholders of record on August 28th.

Dimensional Fund Advisors LP lifted its holdings in shares of Olin Corporation (NYSE:OLN - Free Report) by 14.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,546,352 shares of the specialty chemicals company's stock after buying an additional 569,483 shares during the period. Dimensional Fund Advisors LP owned approximately 3.95% of Olin worth $110,204,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. bought a new position in Olin in the first quarter valued at about $31,000. Fifth Third Bancorp lifted its holdings in Olin by 160.5% in the first 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 period. Envestnet Portfolio Solutions Inc. bought a new position in Olin in the first quarter valued at about $206,000. Sequoia Financial Advisors LLC bought a new position in Olin in the first quarter valued at about $247,000. Finally, GAMMA Investing LLC lifted its holdings in Olin by 2,268.4% in the first quarter. GAMMA Investing LLC now owns 26,834 shares of the specialty chemicals company's stock valued at $650,000 after acquiring an additional 25,701 shares during the period. 88.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

OLN has been the topic of a number of recent research reports. Wall Street Zen raised Olin from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Mizuho lowered their target price on Olin from $24.00 to $23.00 and set a "neutral" rating on the stock in a report on Tuesday, July 29th. JPMorgan Chase & Co. lowered their target price on Olin from $28.00 to $20.00 and set a "neutral" rating on the stock in a report on Tuesday, May 6th. Truist Financial decreased their price objective on Olin from $25.00 to $24.00 and set a "hold" rating on the stock in a research note on Monday, May 5th. Finally, Citigroup decreased their price objective on Olin from $26.00 to $25.00 and set a "buy" rating on the stock in a research note on Tuesday, July 8th. Three investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $25.57.

Olin Stock Performance

Shares of NYSE OLN traded down $0.46 during trading on Thursday, hitting $22.84. The company had a trading volume of 1,719,943 shares, compared to its average volume of 2,596,014. 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 12 month low of $17.66 and a 12 month high of $49.60. The stock has a 50 day simple moving average of $20.87 and a 200 day simple moving average of $21.98. The firm has a market capitalization of $2.62 billion, a P/E ratio of -190.29 and a beta of 1.55.

Olin (NYSE:OLN - Get Free Report) last released its earnings results on Monday, July 28th. The specialty chemicals company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $1.76 billion for the quarter, compared to analysts' expectations of $1.68 billion. During the same quarter in the prior year, the business posted $0.62 EPS. The business's revenue for the quarter was up 7.0% compared to the same quarter last year. As a group, analysts anticipate that Olin Corporation will post 1.38 earnings per share for the current year.

Olin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Thursday, August 28th will be given a dividend of $0.20 per share. The ex-dividend date is Thursday, August 28th. This represents a $0.80 annualized dividend and a dividend yield of 3.5%. Olin's dividend payout ratio (DPR) is currently -666.67%.

Insider Activity

In related news, VP Teresa M. Vermillion sold 6,000 shares of the stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $21.11, for a total transaction of $126,660.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate 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.