Olin Corporation $OLN Shares Purchased by Ieq Capital LLC

Key Points

• Ieq Capital LLC increased its ownership in Olin Corporation by 71.9% during the first quarter, bringing its total to 41,897 shares valued at approximately $1,016,000.
• Olin Corporation reported $0.05 earnings per share for the most recent quarter, falling short of analysts' expectations of $0.09, despite achieving a 7% increase in revenue year-over-year.
• The company announced a quarterly dividend of $0.20 per share, resulting in an annualized yield of 3.4%, with an ex-dividend date of August 28th.

Ieq Capital LLC lifted its stake in shares of Olin Corporation (NYSE:OLN - Free Report) by 71.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 41,897 shares of the specialty chemicals company's stock after buying an additional 17,528 shares during the quarter. Ieq Capital LLC's holdings in Olin were worth $1,016,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Northern Trust Corp raised its position in Olin by 16.5% in the 4th quarter. Northern Trust Corp now owns 1,126,237 shares of the specialty chemicals company's stock valued at $38,067,000 after purchasing an additional 159,667 shares during the last quarter. Schonfeld Strategic Advisors LLC acquired a new position in Olin in the 4th quarter valued at $1,305,000. Comerica Bank increased its stake in Olin by 9.2% in the 4th quarter. Comerica Bank now owns 73,130 shares of the specialty chemicals company's stock valued at $2,472,000 after buying an additional 6,179 shares during the period. Balyasny Asset Management L.P. increased its stake in Olin by 0.6% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,371,246 shares of the specialty chemicals company's stock valued at $46,348,000 after buying an additional 8,092 shares during the period. Finally, Bridgefront Capital LLC acquired a new position in Olin in the 4th quarter valued at $307,000. Hedge funds and other institutional investors own 88.67% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Morgan Stanley dropped their price objective on shares of Olin from $28.00 to $20.00 and set an "underweight" rating on the stock in a research note on Monday, May 12th. Mizuho lowered their price target on shares of Olin from $24.00 to $23.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 29th. Barclays lowered their price target on shares of Olin from $28.00 to $24.00 and set an "equal weight" rating on the stock in a research note on Wednesday, May 28th. Citigroup lowered 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, UBS Group lowered their price target on shares of Olin from $23.00 to $22.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 29th. Three equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $25.57.

Olin Trading Down 2.2%

NYSE OLN traded down $0.55 during mid-day trading on Monday, reaching $24.76. 481,620 shares of the stock were exchanged, compared to its average volume of 2,084,278. The stock has a market capitalization of $2.84 billion, a PE ratio of -205.85 and a beta of 1.61. 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 1-year low of $17.66 and a 1-year high of $49.60. The business's fifty day simple moving average is $21.35 and its 200 day simple moving average is $21.73.

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 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 business had revenue of $1.76 billion for the quarter, compared to analysts' expectations of $1.68 billion. During the same period in the prior year, the company earned $0.62 EPS. The company's revenue for the quarter was up 7.0% compared to the same quarter last year. On average, research analysts anticipate that Olin Corporation will post 1.38 earnings per share for the current fiscal year.

Olin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Shareholders 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 3.2%. The ex-dividend date of this dividend is Thursday, August 28th. Olin's dividend payout ratio is currently -666.67%.

Insider Buying and Selling at Olin

In other Olin 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 transaction of $126,660.00. Following the transaction, the vice president owned 17,199 shares of the company's stock, valued at $363,070.89. This represents a 25.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 1.70% of the stock is currently owned by corporate insiders.

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.