Olin Corporation $OLN Position Increased by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. boosted its holdings in shares of Olin Corporation (NYSE:OLN - Free Report) by 201.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 30,988 shares of the specialty chemicals company's stock after acquiring an additional 20,710 shares during the quarter. First Citizens Bank & Trust Co.'s holdings in Olin were worth $623,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. purchased a new position in Olin during the 1st quarter valued at about $31,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Olin during the 1st quarter valued at about $32,000. Allworth Financial LP grew its stake in Olin by 188.5% during the 1st quarter. Allworth Financial LP now owns 1,676 shares of the specialty chemicals company's stock valued at $37,000 after acquiring an additional 1,095 shares in the last quarter. UMB Bank n.a. grew its stake in Olin by 134.9% during the 2nd quarter. UMB Bank n.a. now owns 1,736 shares of the specialty chemicals company's stock valued at $35,000 after acquiring an additional 997 shares in the last quarter. Finally, Quarry LP purchased a new position in Olin during the 1st quarter valued at about $45,000. Hedge funds and other institutional investors own 88.67% of the company's stock.

Olin Stock Up 0.3%

OLN opened at $24.05 on Friday. The business has a 50 day moving average price of $24.03 and a 200 day moving average price of $21.85. Olin Corporation has a twelve month low of $17.66 and a twelve month high of $44.76. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.88 and a current ratio of 1.48. The firm has a market cap of $2.76 billion, a P/E ratio of -200.44 and a beta of 1.68.

Olin (NYSE:OLN - Get Free Report) last posted its earnings results on Monday, July 28th. The specialty chemicals company reported $0.05 earnings per share 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 company had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same quarter last year, the firm posted $0.62 earnings per share. The firm's revenue for the quarter was up 7.0% compared to the same quarter last year. Research analysts forecast that Olin Corporation will post 1.38 EPS for the current year.

Olin Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Thursday, August 28th were issued a dividend of $0.20 per share. The ex-dividend date was Thursday, August 28th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.3%. Olin's payout ratio is -666.67%.

Wall Street Analyst Weigh In

Several research firms have weighed in on OLN. Citigroup cut Olin from a "buy" rating to a "neutral" rating and set a $25.00 target price on the stock. in a research note on Thursday, October 2nd. Mizuho set a $26.00 target price on Olin in a research report on Friday, October 3rd. Wall Street Zen raised Olin from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. UBS Group lifted their price target on Olin from $21.00 to $24.00 and gave the company a "neutral" rating in a report on Monday, October 6th. Finally, Wells Fargo & Company lifted 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. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $25.71.

Insider Activity

In other news, VP Teresa M. Vermillion sold 6,000 shares of the business's stock in a transaction that occurred 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 sale, the vice president directly 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 document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.60% of the company's stock.

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.

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