Victory Capital Management Inc. trimmed its position in shares of Olin Co. (NYSE:OLN - Free Report) by 27.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 459,255 shares of the specialty chemicals company's stock after selling 170,649 shares during the quarter. Victory Capital Management Inc. owned 0.37% of Olin worth $24,777,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Olin by 209.4% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 50,657 shares of the specialty chemicals company's stock valued at $2,532,000 after purchasing an additional 34,285 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Olin by 13.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,291 shares of the specialty chemicals company's stock worth $964,000 after purchasing an additional 2,330 shares in the last quarter. Mackenzie Financial Corp lifted its position in shares of Olin by 44.2% during the third quarter. Mackenzie Financial Corp now owns 7,708 shares of the specialty chemicals company's stock valued at $374,000 after buying an additional 2,361 shares during the last quarter. Inspire Investing LLC boosted its holdings in shares of Olin by 14.3% in the 3rd quarter. Inspire Investing LLC now owns 24,613 shares of the specialty chemicals company's stock valued at $1,230,000 after buying an additional 3,081 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund grew its position in shares of Olin by 1.7% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 35,303 shares of the specialty chemicals company's stock worth $1,764,000 after buying an additional 600 shares during the last quarter. 88.67% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
OLN has been the topic of several analyst reports. Stifel Nicolaus lifted their price target on shares of Olin from $68.00 to $69.00 and gave the stock a "buy" rating in a report on Monday, April 29th. Royal Bank of Canada reduced their price target on shares of Olin from $69.00 to $63.00 and set an "outperform" rating for the company in a research report on Monday, April 29th. Citigroup lifted their price objective on Olin from $63.00 to $67.00 and gave the stock a "buy" rating in a report on Wednesday, April 10th. Barclays raised their target price on Olin from $57.00 to $59.00 and gave the company an "equal weight" rating in a research report on Thursday, April 4th. Finally, UBS Group boosted their price target on Olin from $56.00 to $58.00 and gave the stock a "neutral" rating in a research report on Friday, January 26th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, Olin presently has an average rating of "Hold" and a consensus target price of $60.00.
Get Our Latest Report on OLN
Olin Stock Performance
Shares of Olin stock traded up $0.52 on Thursday, reaching $55.91. 965,045 shares of the stock were exchanged, compared to its average volume of 1,029,433. The company has a current ratio of 1.38, a quick ratio of 0.80 and a debt-to-equity ratio of 1.22. Olin Co. has a 1-year low of $41.71 and a 1-year high of $60.60. The firm has a market capitalization of $6.68 billion, a PE ratio of 20.08, a PEG ratio of 0.31 and a beta of 1.48. The business has a fifty day moving average price of $55.89 and a two-hundred day moving average price of $51.98.
Olin (NYSE:OLN - Get Free Report) last announced its quarterly earnings data on Friday, April 26th. The specialty chemicals company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.02. Olin had a net margin of 5.32% and a return on equity of 14.47%. The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the prior year, the firm posted $1.16 earnings per share. The company's quarterly revenue was down 11.3% compared to the same quarter last year. As a group, research analysts anticipate that Olin Co. will post 3.68 earnings per share for the current fiscal year.
Olin Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Thursday, May 9th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.43%. The ex-dividend date is Wednesday, May 8th. Olin's dividend payout ratio (DPR) is 28.78%.
Insider Activity
In other news, VP Brett A. Flaugher sold 15,000 shares of Olin stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $52.46, for a total value of $786,900.00. Following the transaction, the vice president now directly owns 8,782 shares of the company's stock, valued at approximately $460,703.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP Brett A. Flaugher sold 15,000 shares of Olin stock in a transaction on Monday, February 26th. The shares were sold at an average price of $52.46, for a total transaction of $786,900.00. Following the transaction, the vice president now owns 8,782 shares in the company, valued at approximately $460,703.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Scott Mcdougald Sutton sold 48,896 shares of the company's stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $52.39, for a total value of $2,561,661.44. Following the completion of the sale, the chief executive officer now directly owns 90,327 shares of the company's stock, valued at approximately $4,732,231.53. The disclosure for this sale can be found here. Insiders sold a total of 78,896 shares of company stock valued at $4,136,061 in the last 90 days. 1.80% of the stock is currently owned by insiders.
Olin Profile
(
Free Report)
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.
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