Olin Corporation (NYSE:OLN) Shares Bought by Yacktman Asset Management LP

Yacktman Asset Management LP grew its stake in Olin Corporation (NYSE:OLN - Free Report) by 3.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,020,243 shares of the specialty chemicals company's stock after acquiring an additional 122,247 shares during the quarter. Yacktman Asset Management LP owned about 3.49% of Olin worth $97,451,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Fifth Third Bancorp lifted its position in Olin by 160.5% during the 1st quarter. Fifth Third Bancorp now owns 1,206 shares of the specialty chemicals company's stock worth $29,000 after acquiring an additional 743 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Olin during the 1st quarter worth about $31,000. Envestnet Portfolio Solutions Inc. acquired a new stake in Olin during the 1st quarter worth about $206,000. LPL Financial LLC lifted its position in Olin by 218.9% during the 4th quarter. LPL Financial LLC now owns 138,477 shares of the specialty chemicals company's stock worth $4,681,000 after acquiring an additional 95,054 shares during the period. Finally, Sequoia Financial Advisors LLC acquired a new stake in Olin during the 1st quarter worth about $247,000. 88.67% of the stock is currently owned by hedge funds and other institutional investors.

Olin Price Performance

Shares of OLN stock traded down $0.74 during trading hours on Friday, reaching $21.90. The company had a trading volume of 2,319,524 shares, compared to its average volume of 1,726,445. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.96 and a current ratio of 1.56. The stock has a fifty day moving average of $20.67 and a 200-day moving average of $24.75. The company has a market capitalization of $2.52 billion, a price-to-earnings ratio of 42.94 and a beta of 1.52. Olin Corporation has a 12-month low of $17.66 and a 12-month high of $50.75.

Olin (NYSE:OLN - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The specialty chemicals company reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.14. The company had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.58 billion. Olin had a return on equity of 3.13% and a net margin of 0.94%. The firm's revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.40 earnings per share. On average, equities analysts anticipate that Olin Corporation will post 1.38 earnings per share for the current year.

Olin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Thursday, May 15th were given a $0.20 dividend. The ex-dividend date was Thursday, May 15th. This represents a $0.80 annualized dividend and a yield of 3.65%. Olin's payout ratio is 156.86%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on OLN. Wall Street Zen cut Olin from a "hold" rating to a "sell" rating in a research report on Friday, June 27th. Royal Bank Of Canada decreased 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. Citigroup decreased their price objective on Olin from $26.00 to $25.00 and set a "buy" rating for the company in a report on Tuesday. Morgan Stanley reduced their price target on Olin from $28.00 to $20.00 and set an "underweight" rating for the company in a report on Monday, May 12th. Finally, Barclays reduced their price target on Olin from $28.00 to $24.00 and set an "equal weight" rating for the company in a report on Wednesday, May 28th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $27.40.

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.