Steward Partners Investment Advisory LLC increased its stake in shares of Olin Co. (NYSE:OLN – Get Rating) by 49.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,942 shares of the specialty chemicals company’s stock after purchasing an additional 967 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Olin were worth $154,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in OLN. Sageworth Trust Co of South Dakota purchased a new stake in shares of Olin during the 4th quarter worth $25,000. Castle Financial & Retirement Planning Associates Inc. purchased a new stake in shares of Olin during the 4th quarter worth $31,000. TFO TDC LLC purchased a new stake in shares of Olin during the 1st quarter worth $32,000. TCI Wealth Advisors Inc. lifted its stake in shares of Olin by 169.2% during the 1st quarter. TCI Wealth Advisors Inc. now owns 603 shares of the specialty chemicals company’s stock worth $32,000 after purchasing an additional 379 shares during the last quarter. Finally, National Bank of Canada FI purchased a new stake in shares of Olin during the 4th quarter worth $38,000. 81.79% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research firms have commented on OLN. Royal Bank of Canada decreased their price target on Olin from $83.00 to $76.00 and set an “outperform” rating for the company in a research note on Wednesday, June 15th. UBS Group decreased their price target on Olin from $64.00 to $60.00 and set a “buy” rating for the company in a research note on Friday. Citigroup cut Olin from a “buy” rating to a “neutral” rating and decreased their price target for the company from $74.00 to $55.00 in a research note on Friday, June 17th. KeyCorp decreased their price target on Olin from $66.00 to $60.00 and set an “overweight” rating for the company in a research note on Wednesday, July 20th. Finally, Bank of America decreased their price target on Olin from $81.00 to $72.00 and set a “buy” rating for the company in a research note on Tuesday, June 14th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.82.
Insider Buying and Selling at Olin
Olin Stock Up 5.4 %
Olin stock opened at $52.27 on Monday. The firm has a market cap of $7.94 billion, a price-to-earnings ratio of 5.86 and a beta of 1.33. Olin Co. has a 52 week low of $43.02 and a 52 week high of $67.25. The business’s 50-day moving average price is $53.14 and its 200 day moving average price is $53.49. The company has a quick ratio of 0.94, a current ratio of 1.49 and a debt-to-equity ratio of 0.93.
Olin (NYSE:OLN – Get Rating) last posted its earnings results on Thursday, April 28th. The specialty chemicals company reported $2.48 EPS for the quarter, topping the consensus estimate of $2.33 by $0.15. The firm had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.35 billion. Olin had a return on equity of 58.94% and a net margin of 15.30%. As a group, sell-side analysts anticipate that Olin Co. will post 9.99 earnings per share for the current year.
Olin Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 9th. Shareholders of record on Wednesday, August 10th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.53%. The ex-dividend date of this dividend is Tuesday, August 9th. Olin’s payout ratio is currently 8.97%.
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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