Intech Investment Management LLC Buys 29,344 Shares of Olin Corporation $OLN

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

Other institutional investors and hedge funds have also recently bought and sold shares of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Olin by 6.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 317,472 shares of the specialty chemicals company's stock valued at $7,696,000 after acquiring an additional 20,047 shares in the last quarter. Arete Wealth Advisors LLC acquired a new stake in Olin during the first quarter worth about $1,897,000. Goldman Sachs Group Inc. increased its stake in Olin by 57.6% during the first quarter. Goldman Sachs Group Inc. now owns 588,602 shares of the specialty chemicals company's stock worth $14,268,000 after acquiring an additional 215,235 shares during the last quarter. Jones Financial Companies Lllp grew its stake in shares of Olin by 467.9% in the first quarter. Jones Financial Companies Lllp now owns 13,805 shares of the specialty chemicals company's stock valued at $335,000 after buying an additional 11,374 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Olin in the first quarter valued at about $32,000. Institutional investors and hedge funds own 88.67% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on OLN shares. KeyCorp lowered their price objective on Olin from $32.00 to $31.00 and set an "overweight" rating for the company in a research note on Wednesday, July 30th. UBS Group lowered their price objective on Olin from $23.00 to $22.00 and set a "neutral" rating for the company in a research note on Tuesday, July 29th. Citigroup lowered their price objective on Olin from $26.00 to $25.00 and set a "buy" rating for the company in a research note on Tuesday, July 8th. Wall Street Zen upgraded Olin from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Finally, Royal Bank Of Canada reduced their target price on Olin from $25.00 to $23.00 and set a "sector perform" rating on the stock in a report on Thursday, July 3rd. Three investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $25.57.

Insider Buying and Selling

In related news, VP Teresa M. Vermillion sold 6,000 shares of the 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 $363,070.89. This represents a 25.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.60% of the stock is currently owned by company insiders.

Olin Stock Down 3.4%

Shares of NYSE:OLN traded down $0.85 on Friday, reaching $24.12. The company had a trading volume of 3,854,349 shares, compared to its average volume of 2,422,339. Olin Corporation has a twelve month low of $17.66 and a twelve month high of $49.60. The stock has a 50-day moving average price of $22.09 and a 200 day moving average price of $21.78. The stock has a market capitalization of $2.77 billion, a P/E ratio of -201.00 and a beta of 1.61. The company has a quick ratio of 0.88, a current ratio of 1.48 and a debt-to-equity ratio of 1.50.

Olin (NYSE:OLN - Get Free Report) last posted its quarterly earnings data 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 for 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 for the quarter was up 7.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.62 EPS. On average, equities analysts expect that Olin Corporation will post 1.38 EPS for the current year.

Olin Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Thursday, August 28th were paid a $0.20 dividend. The ex-dividend date of this dividend was Thursday, August 28th. This represents a $0.80 annualized dividend and a yield of 3.3%. 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.