23,828 Shares in Olin Corporation $OLN Acquired by FORA Capital LLC

Key Points

• FORA Capital LLC has purchased a new stake in Olin Corporation, acquiring 23,828 shares valued at approximately $578,000 in the first quarter of the year.
• Insider activity includes the sale of 6,000 shares by VP Teresa M. Vermillion, resulting in a significant decrease of 25.86% in her ownership.
• Analysts have recently revised their target prices for Olin, with Goldman Sachs lowering theirs from $33.00 to $25.00, indicating a cautious outlook on the company's stock.

FORA Capital LLC purchased a new stake in shares of Olin Corporation (NYSE:OLN - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 23,828 shares of the specialty chemicals company's stock, valued at approximately $578,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Fifth Third Bancorp lifted its position 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 buying an additional 743 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in Olin in the first quarter valued at about $31,000. Allworth Financial LP lifted its position in Olin by 188.5% in 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. Farther Finance Advisors LLC lifted its position in Olin by 183.8% in the first quarter. Farther Finance Advisors LLC now owns 2,645 shares of the specialty chemicals company's stock valued at $63,000 after buying an additional 1,713 shares during the last quarter. Finally, Summit Securities Group LLC acquired a new position in Olin in the first quarter valued at about $88,000. Institutional investors and hedge funds own 88.67% of the company's stock.

Olin Trading Up 3.5%

NYSE:OLN traded up $0.81 on Monday, reaching $23.67. 1,714,787 shares of the company's stock were exchanged, compared to its average volume of 2,406,160. The company has a quick ratio of 0.88, a current ratio of 1.48 and a debt-to-equity ratio of 1.50. The firm has a market capitalization of $2.71 billion, a price-to-earnings ratio of -197.23 and a beta of 1.61. The business has a fifty day moving average of $20.96 and a 200-day moving average of $21.86. Olin Corporation has a 52-week low of $17.66 and a 52-week high of $49.60.

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 for the quarter, missing analysts' consensus estimates 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 firm had revenue of $1.76 billion for the quarter, compared to analysts' expectations of $1.68 billion. During the same quarter in the previous year, the company posted $0.62 earnings per share. The firm's quarterly revenue was up 7.0% on a year-over-year basis. As a group, analysts expect that Olin Corporation will post 1.38 earnings per share for the current year.

Olin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Thursday, August 28th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Thursday, August 28th. Olin's dividend payout ratio is presently -666.67%.

Insider Buying and Selling at Olin

In related news, VP Teresa M. Vermillion sold 6,000 shares of the company'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 sale, the vice president directly owned 17,199 shares in the company, valued at approximately $363,070.89. This represents a 25.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.60% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on OLN shares. Morgan Stanley decreased their target price on shares of Olin from $28.00 to $20.00 and set an "underweight" rating on the stock in a research report on Monday, May 12th. Barclays decreased their target price on shares of Olin from $28.00 to $24.00 and set an "equal weight" rating on the stock in a research report on Wednesday, May 28th. Royal Bank Of Canada decreased their target price on shares of Olin from $25.00 to $23.00 and set a "sector perform" rating on the stock in a research report on Thursday, July 3rd. Citigroup cut their price target on shares of Olin from $26.00 to $25.00 and set a "buy" rating on the stock in a research note on Tuesday, July 8th. Finally, The Goldman Sachs Group cut their price target on shares of Olin from $33.00 to $25.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 6th. Three research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $25.57.

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.