Deprince Race & Zollo Inc. decreased its stake in shares of Olin Corporation (NYSE:OLN) by 7.3% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 747,139 shares of the specialty chemicals company’s stock after selling 58,829 shares during the period. Deprince Race & Zollo Inc. owned about 0.45% of Olin Corporation worth $22,623,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of the stock. Bollard Group LLC boosted its position in Olin Corporation by 0.6% in the first quarter. Bollard Group LLC now owns 3,180 shares of the specialty chemicals company’s stock valued at $105,000 after buying an additional 19 shares in the last quarter. World Asset Management Inc boosted its position in Olin Corporation by 1.7% in the first quarter. World Asset Management Inc now owns 10,125 shares of the specialty chemicals company’s stock valued at $333,000 after buying an additional 168 shares in the last quarter. OppenheimerFunds Inc. boosted its position in Olin Corporation by 0.5% in the first quarter. OppenheimerFunds Inc. now owns 44,497 shares of the specialty chemicals company’s stock valued at $1,462,000 after buying an additional 201 shares in the last quarter. Meadow Creek Investment Management LLC boosted its position in 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 in the last quarter. Finally, Neuburgh Advisers LLC boosted its position 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 93.02% of the company’s stock.
Shares of Olin Corporation (OLN) opened at 29.62 on Friday. The company has a 50 day moving average of $30.42 and a 200 day moving average of $30.79. The firm has a market cap of $4.92 billion, a price-to-earnings ratio of 115.25 and a beta of 1.43. Olin Corporation has a 1-year low of $18.24 and a 1-year high of $33.88.
Olin Corporation (NYSE:OLN) last released its earnings results on Monday, July 31st. The specialty chemicals company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by $0.15. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.51 billion. Olin Corporation had a net margin of 0.72% and a return on equity of 5.80%. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period last year, the business posted $0.24 EPS. On average, equities analysts forecast that Olin Corporation will post $1.14 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Thursday, August 10th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date of this dividend is Tuesday, August 8th. Olin Corporation’s dividend payout ratio (DPR) is currently 320.00%.
Several research firms have recently commented on OLN. BidaskClub upgraded shares of Olin Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, June 14th. UBS AG restated a “neutral” rating and set a $30.00 price target (down from $33.00) on shares of Olin Corporation in a report on Sunday, June 25th. Royal Bank Of Canada restated a “buy” rating and set a $35.00 price target on shares of Olin Corporation in a report on Tuesday, June 20th. Cowen and Company set a $39.00 price target on shares of Olin Corporation and gave the company a “buy” rating in a report on Friday, July 28th. Finally, Tudor Pickering began coverage on shares of Olin Corporation in a report on Friday, May 12th. They set a “buy” rating and a $37.00 price target 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 stock currently has a consensus rating of “Hold” and a consensus price target of $32.75.
In related news, VP Stephen C. Curley sold 5,000 shares of the firm’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $30.34, for a total value of $151,700.00. Following the completion of the transaction, the vice president now owns 23,837 shares of the company’s stock, valued at $723,214.58. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP John L. Mcintosh sold 24,000 shares of the firm’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $31.54, for a total transaction of $756,960.00. Following the completion of the transaction, the executive vice president now directly 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. In the last ninety days, insiders sold 45,070 shares of company stock valued at $1,407,151. 2.90% of the stock is owned by insiders.
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.
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