Olin Corporation $OLN Holdings Lifted by Fuller & Thaler Asset Management Inc.

Key Points

• Fuller & Thaler Asset Management Inc. increased its stake in Olin Corporation by 40.5%, bringing its total ownership to approximately 5.55% of the company.
• Several other institutional investors, including Vanguard Group and Dimensional Fund Advisors, have also raised their positions in Olin, with institutional ownership now at 88.67%.
• Olin announced a quarterly dividend of $0.20 per share, reflecting a dividend yield of 3.8%, despite reporting a loss in earnings per share for the previous quarter.

Fuller & Thaler Asset Management Inc. raised its holdings in Olin Corporation (NYSE:OLN - Free Report) by 40.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,384,744 shares of the specialty chemicals company's stock after purchasing an additional 1,840,900 shares during the period. Fuller & Thaler Asset Management Inc. owned about 5.55% of Olin worth $154,766,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Fifth Third Bancorp raised its position 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 purchasing an additional 743 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Olin in the 1st quarter valued at approximately $31,000. Allworth Financial LP raised its position in shares of 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. Farther Finance Advisors LLC raised its position in shares of Olin by 183.8% in the 1st quarter. Farther Finance Advisors LLC now owns 2,645 shares of the specialty chemicals company's stock valued at $63,000 after purchasing an additional 1,713 shares in the last quarter. Finally, Summit Securities Group LLC acquired a new position in shares of Olin in the 1st quarter valued at approximately $88,000. 88.67% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, VP Teresa M. Vermillion sold 6,000 shares of the stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $21.11, for a total value of $126,660.00. Following the completion of the transaction, the vice president owned 17,199 shares of the company's stock, valued at approximately $363,070.89. This 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 link. Insiders own 1.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on OLN shares. KeyCorp cut their target price on Olin from $32.00 to $31.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 30th. JPMorgan Chase & Co. dropped their price target on Olin from $28.00 to $20.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 6th. Morgan Stanley dropped their price target on Olin from $28.00 to $20.00 and set an "underweight" rating on the stock in a research report on Monday, May 12th. Royal Bank Of Canada dropped their price target on Olin from $25.00 to $23.00 and set a "sector perform" rating on the stock in a research report on Thursday, July 3rd. Finally, UBS Group dropped their price target on Olin from $23.00 to $22.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 29th. Three analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Olin has a consensus rating of "Hold" and an average target price of $25.57.

Olin Stock Performance

Shares of NYSE:OLN traded up $2.0940 on Friday, hitting $23.1240. The company's stock had a trading volume of 2,350,922 shares, compared to its average volume of 2,905,510. Olin Corporation has a 12 month low of $17.66 and a 12 month high of $49.60. The company has a market capitalization of $2.65 billion, a price-to-earnings ratio of -192.70 and a beta of 1.55. The stock's 50-day moving average is $20.60 and its two-hundred day moving average is $22.11. 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 (NYSE:OLN - Get Free Report) last released its quarterly 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 during the quarter, compared to the consensus estimate of $1.68 billion. During the same period in the previous year, the company posted $0.62 EPS. The company's revenue for the quarter was up 7.0% compared to the same quarter last year. On average, equities research analysts forecast that Olin Corporation will post 1.38 EPS for the current year.

Olin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Thursday, August 28th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Thursday, August 28th. This represents a $0.80 annualized dividend and a dividend yield of 3.5%. Olin's dividend payout ratio is presently -666.67%.

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.