Olin Corporation $OLN Shares Purchased by Charles Schwab Investment Management Inc.

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. raised its holdings in shares of Olin Corporation (NYSE:OLN - Free Report) by 5.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and 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 quarter. Charles Schwab Investment Management Inc. owned 1.24% of Olin worth $34,564,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in OLN. Fifth Third Bancorp lifted its position in shares of Olin by 160.5% during the first quarter. Fifth Third Bancorp now owns 1,206 shares of the specialty chemicals company's stock worth $29,000 after purchasing an additional 743 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Olin during the first quarter valued at $31,000. Allworth Financial LP increased its stake in shares of Olin by 188.5% during the first quarter. Allworth Financial LP now owns 1,676 shares of the specialty chemicals company's stock valued at $37,000 after buying an additional 1,095 shares during the period. Farther Finance Advisors LLC increased its stake in shares of Olin by 183.8% during the first quarter. Farther Finance Advisors LLC now owns 2,645 shares of the specialty chemicals company's stock valued at $63,000 after buying an additional 1,713 shares during the period. Finally, Blue Trust Inc. increased its stake in shares of Olin by 149.4% during the first quarter. Blue Trust Inc. now owns 4,080 shares of the specialty chemicals company's stock valued at $99,000 after buying an additional 2,444 shares during the period. 88.67% of the stock is currently owned by institutional investors.

Olin Stock Up 10.0%

NYSE OLN traded up $2.0940 during trading on Friday, hitting $23.1240. The company's stock had a trading volume of 2,350,922 shares, compared to its average volume of 2,905,510. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.48 and a quick ratio of 0.88. The company has a market cap of $2.65 billion, a PE ratio of -192.70 and a beta of 1.55. The business's 50 day simple moving average is $20.60 and its 200-day simple moving average is $22.08. Olin Corporation has a fifty-two week low of $17.66 and a fifty-two week high of $49.60.

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 the consensus estimate of $0.09 by ($0.04). The business had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.68 billion. Olin had a negative return on equity of 0.13% and a negative net margin of 0.21%.Olin's revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.62 EPS. On average, equities analysts anticipate that Olin Corporation will post 1.38 EPS for the current fiscal year.

Olin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Thursday, August 28th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Thursday, August 28th. Olin's dividend payout ratio (DPR) is currently -666.67%.

Insiders Place Their Bets

In other Olin news, VP Teresa M. Vermillion sold 6,000 shares of the firm's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $21.11, for a total value of $126,660.00. Following the completion of the sale, the vice president owned 17,199 shares of the company's stock, valued at approximately $363,070.89. This trade represents a 25.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.60% of the company's stock.

Wall Street Analyst Weigh In

OLN has been the topic of several research reports. Barclays cut their price target on Olin from $28.00 to $24.00 and set an "equal weight" rating on the stock in a research note on Wednesday, May 28th. Truist Financial cut their price target on Olin from $25.00 to $24.00 and set a "hold" rating on the stock in a research note on Monday, May 5th. Citigroup cut their target price on Olin from $26.00 to $25.00 and set a "buy" rating on the stock in a research note on Tuesday, July 8th. JPMorgan Chase & Co. cut their target price on Olin from $28.00 to $20.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 6th. Finally, Wells Fargo & Company cut their target price 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. Three investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average 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.