Lesa Sroufe & Co Makes New $1.31 Million Investment in Olin Corporation $OLN

Key Points

• Lesa Sroufe & Co acquired 84,852 Olin shares worth approximately $1.31 million in the third quarter, giving the fund roughly 0.07% ownership. Institutional investors collectively hold 88.67% of Olin’s stock.
• Analyst sentiment remains cautious: Olin has an average “Reduce” rating, with 12 Hold, three Sell and one Buy recommendation. The average price target is $20.57, though several firms recently lowered targets.
• Olin’s latest quarterly results fell short of expectations, with adjusted EPS of $0.13 versus the $0.15 consensus and revenue of $1.75 billion versus $1.83 billion expected. The company maintains a quarterly dividend of $0.20 per share, representing a 4.4% annualized yield.

Lesa Sroufe & Co purchased a new stake in shares of Olin Corporation (NYSE:OLN - Free Report) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 84,852 shares of the specialty chemicals company's stock, valued at approximately $1,315,000. Lesa Sroufe & Co owned approximately 0.07% of Olin at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Bank of New York Mellon Corp purchased a new stake in shares of Olin in the second quarter worth approximately $23,785,000. Dimensional Fund Advisors LP grew its holdings in Olin by 22.4% during the first quarter. Dimensional Fund Advisors LP now owns 5,627,997 shares of the specialty chemicals company's stock worth $167,311,000 after buying an additional 1,031,498 shares in the last quarter. Amundi grew its holdings in Olin by 337.2% during the first quarter. Amundi now owns 684,036 shares of the specialty chemicals company's stock worth $20,336,000 after buying an additional 527,586 shares in the last quarter. Segall Bryant & Hamill LLC bought a new stake in Olin during the first quarter worth $14,770,000. Finally, Empowered Funds LLC raised its position in Olin by 1,946.0% in the 1st quarter. Empowered Funds LLC now owns 435,599 shares of the specialty chemicals company's stock valued at $12,950,000 after buying an additional 414,309 shares during the last quarter. Institutional investors and hedge funds own 88.67% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Wall Street Zen upgraded Olin from a "strong sell" rating to a "sell" rating in a research note on Saturday. Wells Fargo & Company lowered their target price on shares of Olin from $20.00 to $16.00 and set an "equal weight" rating for the company in a report on Thursday, October 1st. UBS Group dropped their price target on shares of Olin from $21.00 to $18.00 and set a "neutral" rating on the stock in a research report on Monday, October 5th. Barclays initiated coverage on shares of Olin in a research report on Monday, October 12th. They set an "equal weight" rating and a $18.00 price target on the stock. Finally, KeyCorp began coverage on shares of Olin in a report on Friday, September 11th. They set an "overweight" rating and a $26.00 price target on the stock. One investment analyst has rated the stock with a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Reduce" and an average price target of $20.57.

Olin Price Performance

OLN opened at $18.12 on Tuesday. The company has a market capitalization of $2.07 billion, a price-to-earnings ratio of -12.33 and a beta of 1.23. The company has a quick ratio of 0.87, a current ratio of 1.42 and a debt-to-equity ratio of 1.77. The firm has a 50-day moving average price of $16.44 and a 200-day moving average price of $22.25. Olin Corporation has a twelve month low of $14.64 and a twelve month high of $30.46.

Olin (NYSE:OLN - Get Free Report) last announced its quarterly earnings results on Thursday, October 29th. The specialty chemicals company reported $0.13 EPS for the quarter, missing analysts' consensus estimates of $0.15 by ($0.02). The business had revenue of $1.75 billion for the quarter, compared to analysts' expectations of $1.83 billion. Olin had a negative net margin of 2.08% and a negative return on equity of 4.76%. The business's quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.37 earnings per share. Equities analysts expect that Olin Corporation will post -0.80 EPS for the current year.

Olin Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 11th. Investors of record on Thursday, August 27th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.4%. The ex-dividend date was Thursday, August 27th. Olin's payout ratio is presently -54.42%.

Olin Company Profile

Olin Corporation NYSE: OLN is a global manufacturer of chemicals and ammunition. The company operates through three primary businesses: Chlor Alkali Products and Vinyls, Epoxy, and Winchester.

Its Chlor Alkali Products and Vinyls business produces chlorine, caustic soda, hydrochloric acid, bleach products, hydrogen, chlorinated organic chemicals and other related materials used in industrial, water-treatment, construction and consumer applications. Olin's Epoxy business manufactures epoxy resins, intermediates and other specialty materials used in coatings, adhesives, composites, electronics and infrastructure-related applications.

Through its Winchester business, Olin produces and distributes sporting ammunition, reloading components, and small-caliber ammunition for law enforcement and military customers.

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