Strategy Asset Managers LLC Takes Position in Olin Co. (NYSE:OLN)

Strategy Asset Managers LLC purchased a new position in shares of Olin Co. (NYSE:OLNGet Rating) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 6,911 shares of the specialty chemicals company’s stock, valued at approximately $361,000.

Several other large investors have also modified their holdings of OLN. HighTower Advisors LLC boosted its stake in Olin by 33.8% during the third quarter. HighTower Advisors LLC now owns 6,990 shares of the specialty chemicals company’s stock worth $340,000 after buying an additional 1,767 shares during the period. LPL Financial LLC increased its holdings in Olin by 10.2% in the 3rd quarter. LPL Financial LLC now owns 65,454 shares of the specialty chemicals company’s stock valued at $3,158,000 after purchasing an additional 6,071 shares during the last quarter. Wellington Management Group LLP raised its position in Olin by 32.5% in the third quarter. Wellington Management Group LLP now owns 14,546 shares of the specialty chemicals company’s stock valued at $702,000 after purchasing an additional 3,567 shares during the period. Voloridge Investment Management LLC lifted its stake in Olin by 19.0% during the third quarter. Voloridge Investment Management LLC now owns 12,412 shares of the specialty chemicals company’s stock worth $599,000 after purchasing an additional 1,982 shares in the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in shares of Olin in the third quarter valued at $3,125,000. 81.79% of the stock is owned by hedge funds and other institutional investors.

In other Olin news, VP Brett A. Flaugher sold 9,000 shares of the firm’s stock in a transaction dated Wednesday, May 4th. The stock was sold at an average price of $62.30, for a total value of $560,700.00. Following the sale, the vice president now directly owns 43,628 shares of the company’s stock, valued at approximately $2,718,024.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO James A. Varilek sold 28,265 shares of the stock in a transaction dated Friday, May 27th. The stock was sold at an average price of $64.76, for a total transaction of $1,830,441.40. Following the transaction, the chief operating officer now owns 17,761 shares in the company, valued at $1,150,202.36. The disclosure for this sale can be found here. Insiders have sold 2,595,576 shares of company stock worth $158,624,719 in the last three months. Insiders own 9.00% of the company’s stock.

OLN has been the topic of a number of recent research reports. Royal Bank of Canada cut their price target on shares of Olin from $83.00 to $76.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 15th. Bank of America lowered their price objective on Olin from $81.00 to $72.00 and set a “buy” rating for the company in a research report on Tuesday, June 14th. Citigroup lowered Olin from a “buy” rating to a “neutral” rating and dropped their target price for the company from $74.00 to $55.00 in a report on Friday, June 17th. KeyCorp raised their price objective on shares of Olin from $64.00 to $65.00 and gave the stock an “overweight” rating in a report on Tuesday, April 5th. Finally, Barclays upped their target price on Olin from $57.00 to $65.00 in a research report on Monday, May 2nd. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.73.

Shares of OLN opened at $47.14 on Thursday. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.49 and a quick ratio of 0.94. Olin Co. has a 1-year low of $39.90 and a 1-year high of $67.25. The stock has a market cap of $7.16 billion, a price-to-earnings ratio of 5.28 and a beta of 1.20. The firm has a 50 day simple moving average of $59.89 and a 200-day simple moving average of $55.11.

Olin (NYSE:OLNGet Rating) last released its quarterly earnings results on Thursday, April 28th. The specialty chemicals company reported $2.48 earnings per share for the quarter, topping analysts’ consensus estimates of $2.33 by $0.15. The company had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.35 billion. Olin had a return on equity of 58.94% and a net margin of 15.30%. On average, equities analysts expect that Olin Co. will post 10.06 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 10th. Stockholders of record on Tuesday, May 10th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date was Monday, May 9th. Olin’s dividend payout ratio is presently 8.97%.

Olin Company Profile (Get Rating)

Olin Corporation manufactures and distributes chemical products in the United States, Europe, and internationally. 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, chlorinated organics intermediates and solvents, and sodium hypochlorite.

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Institutional Ownership by Quarter for Olin (NYSE:OLN)

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