LPL Financial LLC Buys 60,246 Shares of Olin Corporation $OLN

Key Points

• LPL Financial LLC increased its holdings in Olin Corporation by 43.5%, acquiring an additional 60,246 shares in the first quarter, bringing its total to 198,723 shares worth approximately $4.8 million.
• Olin's recently reported earnings showed $0.05 EPS, missing estimates by $0.04, with quarterly revenue rising 7.0% year-over-year to $1.76 billion.
• Analysts have revised Olin's price targets, with Barclays and Mizuho lowering theirs to $24.00 and $23.00, respectively, while maintaining a consensus rating of "Hold."

LPL Financial LLC increased its holdings in shares of Olin Corporation (NYSE:OLN - Free Report) by 43.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 198,723 shares of the specialty chemicals company's stock after purchasing an additional 60,246 shares during the period. LPL Financial LLC owned approximately 0.17% of Olin worth $4,817,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Covestor Ltd grew its stake in Olin by 45.8% during the fourth quarter. Covestor Ltd now owns 1,334 shares of the specialty chemicals company's stock worth $45,000 after purchasing an additional 419 shares during the period. Fifth Third Bancorp lifted its holdings in shares of 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 purchasing an additional 743 shares in the last quarter. Allworth Financial LP lifted its holdings in shares of 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 purchasing an additional 1,095 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Olin in the first quarter valued at approximately $31,000. Finally, Guggenheim Capital LLC lifted its holdings in shares of Olin by 8.0% in the fourth quarter. Guggenheim Capital LLC now owns 21,241 shares of the specialty chemicals company's stock valued at $718,000 after purchasing an additional 1,572 shares in the last quarter. Institutional investors and hedge funds own 88.67% of the company's stock.

Olin Stock Performance

Shares of NYSE OLN traded up $0.16 during mid-day trading on Monday, hitting $21.46. The company had a trading volume of 379,768 shares, compared to its average volume of 2,084,094. The company has a market capitalization of $2.46 billion, a price-to-earnings ratio of -178.63 and a beta of 1.55. Olin Corporation has a 1 year low of $17.66 and a 1 year high of $49.60. The company has a current ratio of 1.48, a quick ratio of 0.88 and a debt-to-equity ratio of 1.50. The stock's 50-day moving average price is $20.56 and its 200-day moving average price is $22.26.

Olin (NYSE:OLN - Get Free Report) last posted its earnings results on Monday, July 28th. The specialty chemicals company reported $0.05 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 previous year, the firm earned $0.62 earnings per share. Olin's quarterly revenue was up 7.0% compared to the same quarter last year. On average, sell-side analysts forecast 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. This represents a $0.80 annualized dividend and a yield of 3.7%. The ex-dividend date is Thursday, August 28th. Olin's payout ratio is presently -666.67%.

Insider Buying and Selling

In related news, VP Teresa M. Vermillion sold 6,000 shares of the business's 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 transaction, the vice president directly owned 17,199 shares in the company, valued at $363,070.89. The trade was a 25.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on OLN shares. KeyCorp dropped their target price on Olin from $32.00 to $31.00 and set an "overweight" rating on the stock in a report on Wednesday, July 30th. Morgan Stanley dropped their price target on Olin from $28.00 to $20.00 and set an "underweight" rating on the stock in a report on Monday, May 12th. Wells Fargo & Company dropped their price target on Olin from $22.00 to $21.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 30th. Mizuho dropped their price target on Olin from $24.00 to $23.00 and set a "neutral" rating on the stock in a report on Tuesday, July 29th. Finally, Barclays dropped their price target on Olin from $28.00 to $24.00 and set an "equal weight" rating on the stock in a report on Wednesday, May 28th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $25.57.

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.