Gateway Investment Advisers LLC raised its stake in Olin Corporation (NYSE:OLN) by 7.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 137,279 shares of the specialty chemicals company’s stock after buying an additional 9,853 shares during the period. Gateway Investment Advisers LLC owned approximately 0.08% of Olin Corporation worth $4,157,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in the company. Bollard Group LLC boosted its position in shares of Olin Corporation by 0.6% in the first quarter. Bollard Group LLC now owns 3,180 shares of the specialty chemicals company’s stock worth $105,000 after buying an additional 19 shares during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. bought a new stake in shares of Olin Corporation during the first quarter valued at $118,000. Meadow Creek Investment Management LLC boosted its stake in shares of Olin Corporation by 6.9% in the first quarter. Meadow Creek Investment Management LLC now owns 4,464 shares of the specialty chemicals company’s stock valued at $147,000 after buying an additional 288 shares during the last quarter. Banced Corp bought a new stake in shares of Olin Corporation during the first quarter valued at $201,000. Finally, Neuburgh Advisers LLC boosted its stake in Olin Corporation by 6.9% in the first quarter. Neuburgh Advisers LLC now owns 6,138 shares of the specialty chemicals company’s stock valued at $202,000 after buying an additional 396 shares in the last quarter. Institutional investors and hedge funds own 92.85% of the company’s stock.
Olin Corporation (NYSE OLN) traded up 1.96% during midday trading on Friday, reaching $29.18. The company had a trading volume of 1,749,476 shares. The company has a market capitalization of $4.85 billion, a price-to-earnings ratio of 113.54 and a beta of 1.43. The firm has a 50-day moving average price of $30.30 and a 200-day moving average price of $30.68. Olin Corporation has a 52 week low of $18.24 and a 52 week high of $33.88.
Olin Corporation (NYSE:OLN) last issued its quarterly earnings results on Monday, July 31st. The specialty chemicals company reported $0.01 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.16 by $0.15. Olin Corporation had a return on equity of 5.80% and a net margin of 0.72%. The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.51 billion. During the same quarter in the previous year, the company posted $0.24 EPS. The company’s quarterly revenue was up 11.9% on a year-over-year basis. Analysts expect that Olin Corporation will post $1.14 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Thursday, August 10th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, August 8th. This represents a $0.80 dividend on an annualized basis and a yield of 2.74%. Olin Corporation’s payout ratio is presently 320.00%.
Several equities research analysts recently commented on OLN shares. Cowen and Company set a $39.00 target price on Olin Corporation and gave the stock a “buy” rating in a research note on Friday, July 28th. BidaskClub raised Olin Corporation from a “hold” rating to a “buy” rating in a research note on Sunday, July 16th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $35.00 target price on shares of Olin Corporation in a research note on Tuesday, May 16th. Tudor Pickering began coverage on Olin Corporation in a research note on Friday, May 12th. They set a “buy” rating and a $37.00 target price for the company. Finally, Bank of America Corporation initiated coverage on Olin Corporation in a report on Monday, May 8th. They issued a “buy” rating and a $40.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $32.75.
In other Olin Corporation news, EVP John L. Mcintosh sold 16,070 shares of the stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $31.02, for a total value of $498,491.40. Following the completion of the sale, the executive vice president now owns 60,391 shares in the company, valued at approximately $1,873,328.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP John L. Mcintosh sold 24,000 shares of the stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $31.54, for a total value of $756,960.00. Following the completion of the sale, the executive vice president now owns 84,391 shares of the company’s stock, valued at approximately $2,661,692.14. The disclosure for this sale can be found here. Corporate insiders own 2.90% of the company’s stock.
Olin Corporation Company Profile
Olin Corporation is a manufacturer and distributor of chemical products, and ammunition. The Company operates through three segments: Chlor Alkali Products and Vinyls, Epoxy and Winchester. The Chlor Alkali Products and Vinyls segment manufactures and sells chlorine and caustic soda, ethylene dichloride and vinyl chloride monomer, methyl chloride, methylene chloride, chloroform, carbon tetrachloride, perchloroethylene, trichloroethylene and vinylidene chloride, hydrochloric acid, hydrogen, bleach products and potassium hydroxide.
What are top analysts saying about Olin Corporation? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Olin Corporation and related companies.