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Olin Corporation $OLN Shares Sold by Vanguard Group Inc.

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Key Points

  • Vanguard Group Inc. trimmed its Olin stake by 2.0% in the fourth quarter, selling 226,401 shares and leaving it with 11.34 million shares worth about $236.2 million.
  • Olin’s stock recently traded at $26.84, near its 50-day average, with a 1-year range of $18.08 to $30.46 and a market cap of about $3.06 billion.
  • The company announced a quarterly dividend of $0.20 per share, payable June 12, implying an annualized yield of about 3.0%.
  • Five stocks to consider instead of Olin.

Vanguard Group Inc. cut its position in Olin Corporation (NYSE:OLN - Free Report) by 2.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,337,815 shares of the specialty chemicals company's stock after selling 226,401 shares during the period. Vanguard Group Inc. owned 9.93% of Olin worth $236,167,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. ARGA Investment Management LP grew its stake in shares of Olin by 0.9% during the third quarter. ARGA Investment Management LP now owns 60,359 shares of the specialty chemicals company's stock worth $1,508,000 after purchasing an additional 546 shares in the last quarter. Wilmington Savings Fund Society FSB increased its holdings in Olin by 9.9% in the third quarter. Wilmington Savings Fund Society FSB now owns 6,412 shares of the specialty chemicals company's stock valued at $160,000 after buying an additional 579 shares during the last quarter. FORA Capital LLC raised its stake in Olin by 2.6% in the second quarter. FORA Capital LLC now owns 24,453 shares of the specialty chemicals company's stock valued at $491,000 after buying an additional 625 shares in the last quarter. NewEdge Advisors LLC raised its stake in Olin by 45.0% in the third quarter. NewEdge Advisors LLC now owns 2,323 shares of the specialty chemicals company's stock valued at $58,000 after buying an additional 721 shares in the last quarter. Finally, Treasurer of the State of North Carolina lifted its holdings in Olin by 1.5% during the 2nd quarter. Treasurer of the State of North Carolina now owns 53,636 shares of the specialty chemicals company's stock worth $1,078,000 after buying an additional 793 shares during the last quarter. 88.67% of the stock is currently owned by institutional investors and hedge funds.

Olin Price Performance

Shares of NYSE OLN opened at $26.84 on Friday. The stock has a fifty day moving average price of $26.79 and a 200 day moving average price of $23.68. Olin Corporation has a 1-year low of $18.08 and a 1-year high of $30.46. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.21 and a quick ratio of 0.73. The company has a market cap of $3.06 billion, a PE ratio of -23.96 and a beta of 1.21.

Olin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Thursday, May 14th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Thursday, May 14th. Olin's dividend payout ratio (DPR) is -71.43%.

Olin News Roundup

Here are the key news stories impacting Olin this week:

Insider Buying and Selling at Olin

In other news, VP Angela M. Castle sold 2,379 shares of Olin stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $24.25, for a total value of $57,690.75. Following the sale, the vice president owned 1,528 shares of the company's stock, valued at $37,054. The trade was a 60.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on OLN shares. Royal Bank Of Canada set a $30.00 price objective on Olin and gave the stock a "sector perform" rating in a research report on Friday, April 10th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $26.00 target price on shares of Olin in a research note on Tuesday, February 10th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Olin in a report on Thursday, January 22nd. Wall Street Zen upgraded shares of Olin from a "sell" rating to a "hold" rating in a research note on Saturday, April 11th. Finally, UBS Group raised their price objective on shares of Olin from $21.00 to $29.00 and gave the stock a "neutral" rating in a report on Thursday, April 9th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $26.50.

View Our Latest Stock Analysis on OLN

Olin Profile

(Free Report)

Olin Corporation is a diversified manufacturer specializing in chemical products and ammunition. The company's core business activities encompass the production and distribution of chlor-alkali products, epoxy resins and derivatives, and small-caliber ammunition under the Winchester brand. Olin's chemical operations supply chlorine, caustic soda and related co-products to a wide range of end markets, including water treatment, pulp and paper, pharmaceuticals and general industrial applications.

In its Chlor Alkali Products & Vinyls segment, Olin operates multiple manufacturing facilities that produce chlorine and sodium hydroxide, along with vinyl chloride monomer and polyvinyl chloride (PVC) compounds.

Further Reading

Want to see what other hedge funds are holding OLN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Olin Corporation (NYSE:OLN - Free Report).

Institutional Ownership by Quarter for Olin (NYSE:OLN)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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