Olin Corporation $OLN Stake Lifted by Intech Investment Management LLC

Key Points

• Intech Investment Management LLC increased its stake in Olin Corporation by 48.2%, owning 90,214 shares worth $2.187 million after acquiring an additional 29,344 shares.
• Olin reported $1.76 billion in revenue for the last quarter but missed EPS estimates, posting only $0.05 when analysts expected $0.09.
• The company recently declared a quarterly dividend of $0.20 per share, yielding 3.2%, although its dividend payout ratio is unusually high at -666.67%.

Intech Investment Management LLC increased its stake in shares of Olin Corporation (NYSE:OLN - Free Report) by 48.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 90,214 shares of the specialty chemicals company's stock after buying an additional 29,344 shares during the quarter. Intech Investment Management LLC owned about 0.08% of Olin worth $2,187,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Vestcor Inc grew its stake in shares of Olin by 4.6% in the first quarter. Vestcor Inc now owns 12,630 shares of the specialty chemicals company's stock worth $306,000 after purchasing an additional 558 shares in the last quarter. Fifth Third Bancorp grew its stake in shares of Olin by 160.5% in 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 in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of Olin by 13.0% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 6,778 shares of the specialty chemicals company's stock worth $164,000 after purchasing an additional 778 shares in the last quarter. Allworth Financial LP grew its stake in shares of Olin by 188.5% in the first quarter. Allworth Financial LP now owns 1,676 shares of the specialty chemicals company's stock worth $37,000 after purchasing an additional 1,095 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Olin in the first quarter worth $31,000. 88.67% of the stock is currently owned by institutional investors.

Olin Stock Performance

Shares of NYSE OLN opened at $25.36 on Tuesday. 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 $2.91 billion, a price-to-earnings ratio of -211.33 and a beta of 1.61. The business's 50-day simple moving average is $21.88 and its 200-day simple moving average is $21.72. Olin Corporation has a 52 week low of $17.66 and a 52 week high of $49.60.

Olin (NYSE:OLN - Get Free Report) last issued its quarterly earnings data 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). The company had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.68 billion. Olin had a negative net margin of 0.21% and a negative return on equity of 0.13%. The business's revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.62 EPS. As a group, equities research 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. Shareholders of record on Thursday, August 28th were issued a $0.20 dividend. The ex-dividend date of this dividend was Thursday, August 28th. This represents a $0.80 dividend on an annualized basis and a yield of 3.2%. Olin's dividend payout ratio (DPR) is -666.67%.

Insider Transactions at Olin

In other Olin news, VP Teresa M. Vermillion sold 6,000 shares of the firm'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 value of $126,660.00. Following the sale, the vice president owned 17,199 shares of the company's stock, valued at $363,070.89. This trade represents a 25.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.70% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Citigroup cut their price objective on Olin from $26.00 to $25.00 and set a "buy" rating for the company in a report on Tuesday, July 8th. Royal Bank Of Canada cut their price objective on Olin from $25.00 to $23.00 and set a "sector perform" rating for the company in a report on Thursday, July 3rd. Mizuho reduced their target price on Olin from $24.00 to $23.00 and set a "neutral" rating for the company in a report on Tuesday, July 29th. UBS Group reduced their target price on Olin from $23.00 to $22.00 and set a "neutral" rating for the company in a report on Tuesday, July 29th. Finally, KeyCorp reduced their target price on Olin from $32.00 to $31.00 and set an "overweight" rating for the company in a report on Wednesday, July 30th. Three research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Olin currently has an average rating of "Hold" and a consensus target price of $25.57.

Olin 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.