Boston Partners lowered its position in Olin Co. (NYSE:OLN – Free Report) by 23.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,454,705 shares of the specialty chemicals company’s stock after selling 756,818 shares during the quarter. Boston Partners owned approximately 1.95% of Olin worth $127,160,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. BNP Paribas Arbitrage SNC grew its stake in Olin by 15.6% in the second quarter. BNP Paribas Arbitrage SNC now owns 812,265 shares of the specialty chemicals company’s stock valued at $41,742,000 after purchasing an additional 109,583 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in Olin by 4.9% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 58,116 shares of the specialty chemicals company’s stock valued at $2,987,000 after purchasing an additional 2,699 shares in the last quarter. Rhumbline Advisers grew its stake in Olin by 2.2% in the second quarter. Rhumbline Advisers now owns 344,211 shares of the specialty chemicals company’s stock valued at $17,689,000 after purchasing an additional 7,560 shares in the last quarter. Arbor Capital Management Inc. ADV grew its stake in Olin by 0.7% in the second quarter. Arbor Capital Management Inc. ADV now owns 38,987 shares of the specialty chemicals company’s stock valued at $2,057,000 after purchasing an additional 258 shares in the last quarter. Finally, Yacktman Asset Management LP purchased a new position in Olin in the second quarter valued at about $221,775,000. Hedge funds and other institutional investors own 85.69% of the company’s stock.
Wall Street Analysts Forecast Growth
Several analysts have recently issued reports on OLN shares. Morgan Stanley decreased their price target on Olin from $50.00 to $38.00 and set an “underweight” rating for the company in a research note on Monday, October 30th. Credit Suisse Group upped their price target on Olin from $46.00 to $47.00 and gave the stock an “underperform” rating in a research note on Friday, July 28th. Barclays decreased their price target on Olin from $52.00 to $46.00 and set an “equal weight” rating for the company in a research note on Monday, October 30th. The Goldman Sachs Group decreased their price target on Olin from $57.00 to $50.00 and set a “neutral” rating for the company in a research note on Tuesday, October 31st. Finally, Royal Bank of Canada boosted their price objective on Olin from $63.00 to $67.00 and gave the stock an “outperform” rating in a research report on Monday, July 31st. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $54.43.
Olin Trading Up 1.9 %
OLN stock opened at $46.93 on Friday. Olin Co. has a 1-year low of $41.71 and a 1-year high of $64.70. The firm has a market cap of $5.75 billion, a P/E ratio of 10.34, a P/E/G ratio of 9.23 and a beta of 1.44. The business’s 50 day moving average is $46.76 and its 200-day moving average is $51.31. The company has a current ratio of 1.50, a quick ratio of 0.80 and a debt-to-equity ratio of 1.15.
Olin (NYSE:OLN – Get Free Report) last released its quarterly earnings data on Friday, October 27th. The specialty chemicals company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.15. Olin had a return on equity of 24.36% and a net margin of 8.39%. The company had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same period in the prior year, the company posted $2.18 EPS. The company’s revenue was down 28.0% compared to the same quarter last year. Equities analysts anticipate that Olin Co. will post 3.33 earnings per share for the current fiscal year.
Olin Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Thursday, November 9th will be given a dividend of $0.20 per share. The ex-dividend date is Wednesday, November 8th. This represents a $0.80 dividend on an annualized basis and a yield of 1.70%. Olin’s dividend payout ratio (DPR) is presently 17.62%.
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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