Olin Corporation $OLN Position Increased by Envestnet Portfolio Solutions Inc.

Key Points

• Envestnet Portfolio Solutions Inc. significantly increased its stake in Olin Corporation by 274.3% in Q2, owning 31,866 shares worth approximately $640,000.
• Olin posted earnings of $0.05 per share for Q2, missing analysts' estimates by $0.04, despite a 7.0% increase in revenue year-over-year.
• The company recently announced a quarterly dividend of $0.20 per share, representing a yield of 3.4% with a negative dividend payout ratio of -666.67%.

Envestnet Portfolio Solutions Inc. increased its stake in shares of Olin Corporation (NYSE:OLN - Free Report) by 274.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,866 shares of the specialty chemicals company's stock after buying an additional 23,352 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Olin were worth $640,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in OLN. Fuller & Thaler Asset Management Inc. grew its position in shares of Olin by 40.5% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 6,384,744 shares of the specialty chemicals company's stock worth $154,766,000 after acquiring an additional 1,840,900 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its stake in Olin by 11.5% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 12,191,163 shares of the specialty chemicals company's stock valued at $295,514,000 after purchasing an additional 1,259,795 shares during the period. Dimensional Fund Advisors LP grew its position in Olin by 14.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,546,352 shares of the specialty chemicals company's stock worth $110,204,000 after purchasing an additional 569,483 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Olin by 52.5% in the first quarter. AQR Capital Management LLC now owns 1,288,202 shares of the specialty chemicals company's stock valued at $31,226,000 after purchasing an additional 443,210 shares during the period. Finally, Jump Financial LLC raised its holdings in shares of Olin by 300.3% during the first quarter. Jump Financial LLC now owns 339,392 shares of the specialty chemicals company's stock valued at $8,227,000 after buying an additional 254,601 shares during the last quarter. 88.67% of the stock is currently owned by institutional investors.

Olin Trading Down 0.6%

Shares of OLN stock opened at $23.27 on Tuesday. The stock has a 50-day simple moving average of $23.83 and a 200 day simple moving average of $21.73. The stock has a market capitalization of $2.67 billion, a P/E ratio of -193.89 and a beta of 1.68. Olin Corporation has a fifty-two week low of $17.66 and a fifty-two week high of $47.21. The company has a quick ratio of 0.88, a current ratio of 1.48 and a debt-to-equity ratio of 1.50.

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 net margin of 0.21% and a negative return on equity of 0.13%. The business had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same period in the previous year, the company posted $0.62 earnings per share. Olin's revenue was up 7.0% compared to the same quarter last year. On average, sell-side analysts expect that Olin Corporation will post 1.38 earnings per share for the current fiscal year.

Olin Dividend Announcement

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

Analysts Set New Price Targets

OLN has been the subject of a number of recent analyst reports. Royal Bank Of Canada set a $26.00 price objective on Olin and gave the stock a "sector perform" rating in a report on Tuesday, October 14th. Wall Street Zen raised Olin from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Wells Fargo & Company raised their price target on Olin from $21.00 to $25.00 and gave the company an "equal weight" rating in a report on Tuesday, October 7th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Olin in a report on Wednesday, October 8th. Finally, Citigroup lowered shares of Olin from a "buy" rating to a "neutral" rating and set a $25.00 target price for the company. in a research report on Thursday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $25.71.

Insider Transactions at Olin

In other Olin news, VP Teresa M. Vermillion sold 6,000 shares of Olin stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $21.11, for a total value of $126,660.00. Following the transaction, the vice president owned 17,199 shares in the company, valued at approximately $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 SEC, which can be accessed through this hyperlink. Company insiders own 1.70% of the company's stock.

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.

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