Charles Schwab Investment Management Inc. Has $34.56 Million Stake in Olin Corporation $OLN

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Olin Corporation by 5.3%, owning 1,425,907 shares valued at approximately $34.56 million as of the end of the first quarter.
• Olin's recent earnings report indicated a loss of $0.04 per share, falling short of expectations, but revenue increased by 7.0% year-over-year, reaching $1.76 billion.
• The company announced a quarterly dividend of $0.20, with an annual yield of 3.8%, despite having a negative dividend payout ratio of -666.67%.

Charles Schwab Investment Management Inc. lifted its stake in Olin Corporation (NYSE:OLN - Free Report) by 5.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,425,907 shares of the specialty chemicals company's stock after purchasing an additional 72,000 shares during the period. Charles Schwab Investment Management Inc. owned 1.24% of Olin worth $34,564,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. raised its stake in Olin by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 11,748,584 shares of the specialty chemicals company's stock worth $284,786,000 after buying an additional 245,604 shares during the period. Fuller & Thaler Asset Management Inc. raised its stake in Olin by 11.5% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 4,543,844 shares of the specialty chemicals company's stock worth $153,582,000 after buying an additional 467,680 shares during the period. Yacktman Asset Management LP raised its stake in Olin by 3.1% during the 1st quarter. Yacktman Asset Management LP now owns 4,020,243 shares of the specialty chemicals company's stock worth $97,451,000 after buying an additional 122,247 shares during the period. Dimensional Fund Advisors LP raised its stake in Olin by 4.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,976,869 shares of the specialty chemicals company's stock worth $134,413,000 after buying an additional 178,145 shares during the period. Finally, Millennium Management LLC raised its stake in Olin by 9.1% during the 4th quarter. Millennium Management LLC now owns 3,201,233 shares of the specialty chemicals company's stock worth $108,202,000 after buying an additional 265,745 shares during the period. 88.67% of the stock is currently owned by institutional investors.

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 completion of the sale, the vice president 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have issued reports on the company. The Goldman Sachs Group dropped their price target on Olin from $33.00 to $25.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 6th. 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 research note on Wednesday, July 30th. UBS Group dropped their price target on Olin from $23.00 to $22.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 29th. KeyCorp dropped their price target on Olin from $32.00 to $31.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 30th. Finally, Mizuho dropped their price target on Olin from $24.00 to $23.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 29th. Three analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Olin presently has an average rating of "Hold" and an average target price of $25.57.

Olin Stock Up 9.7%

Shares of NYSE:OLN traded up $2.0390 during midday trading on Friday, reaching $23.0690. The company had a trading volume of 1,552,840 shares, compared to its average volume of 2,077,745. The company has a quick ratio of 0.88, a current ratio of 1.48 and a debt-to-equity ratio of 1.50. The business's 50 day moving average price is $20.54 and its 200 day moving average price is $22.14. The stock has a market cap of $2.64 billion, a PE ratio of -191.93 and a beta of 1.55. Olin Corporation has a 1-year low of $17.66 and a 1-year high of $49.60.

Olin (NYSE:OLN - Get Free Report) last posted its quarterly earnings results on Monday, July 28th. The specialty chemicals company reported $0.05 EPS 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 the consensus estimate of $1.68 billion. During the same quarter in the previous year, the business posted $0.62 EPS. The company's revenue for the quarter was up 7.0% on a year-over-year basis. Research analysts forecast that Olin Corporation will post 1.38 EPS for the current fiscal year.

Olin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Thursday, August 28th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Thursday, August 28th. Olin's payout ratio is currently -666.67%.

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.