Inspire Investing LLC acquired a new position in shares of Olin Co. (NYSE:OLN – Get Rating) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 4,484 shares of the specialty chemicals company’s stock, valued at approximately $234,000.
A number of other institutional investors have also recently made changes to their positions in the business. Fuller & Thaler Asset Management Inc. raised its position in Olin by 3.8% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 4,669,514 shares of the specialty chemicals company’s stock worth $268,590,000 after buying an additional 170,468 shares during the last quarter. Invesco Ltd. raised its position in Olin by 37.3% during the 4th quarter. Invesco Ltd. now owns 4,391,847 shares of the specialty chemicals company’s stock worth $252,618,000 after buying an additional 1,193,359 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Olin by 1,052.8% during the 4th quarter. JPMorgan Chase & Co. now owns 4,249,478 shares of the specialty chemicals company’s stock worth $244,430,000 after purchasing an additional 3,880,863 shares during the period. Marshall Wace LLP grew its stake in shares of Olin by 1,350.2% during the 4th quarter. Marshall Wace LLP now owns 1,147,699 shares of the specialty chemicals company’s stock worth $66,015,000 after purchasing an additional 1,068,558 shares during the period. Finally, Granite Investment Partners LLC grew its stake in shares of Olin by 4.7% during the 4th quarter. Granite Investment Partners LLC now owns 1,084,726 shares of the specialty chemicals company’s stock worth $62,393,000 after purchasing an additional 48,817 shares during the period. Institutional investors own 81.79% of the company’s stock.
A number of research firms have recently weighed in on OLN. Bank of America lowered their price target on shares of Olin from $81.00 to $72.00 and set a “buy” rating on the stock in a research note on Tuesday, June 14th. Citigroup cut shares of Olin from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $74.00 to $55.00 in a research note on Friday, June 17th. Barclays upped their price target on shares of Olin from $57.00 to $65.00 in a research note on Monday, May 2nd. StockNews.com cut shares of Olin from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 15th. Finally, Royal Bank of Canada lowered their price objective 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. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $71.73.
In other Olin news, VP Valerie A. Peters sold 5,500 shares of Olin stock in a transaction on Wednesday, May 18th. The shares were sold at an average price of $63.93, for a total value of $351,615.00. Following the transaction, the vice president now owns 4,082 shares in the company, valued at approximately $260,962.26. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Brett A. Flaugher sold 9,000 shares of Olin stock in a transaction on Wednesday, May 4th. The shares were sold at an average price of $62.30, for a total transaction of $560,700.00. Following the completion of the transaction, the vice president now owns 43,628 shares in the company, valued at approximately $2,718,024.40. The disclosure for this sale can be found here. Insiders have sold a total of 2,595,576 shares of company stock worth $158,624,719 over the last ninety days. 9.00% of the stock is owned by corporate insiders.
Olin stock opened at $47.69 on Monday. Olin Co. has a 12-month low of $39.90 and a 12-month high of $67.25. The stock has a market capitalization of $7.24 billion, a P/E ratio of 5.35 and a beta of 1.33. The firm’s 50-day moving average is $57.30 and its two-hundred day moving average is $54.26. 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 (NYSE:OLN – Get Rating) last released its quarterly earnings results on Thursday, April 28th. The specialty chemicals company reported $2.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.33 by $0.15. Olin had a net margin of 15.30% and a return on equity of 58.94%. The company had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.35 billion. As a group, analysts forecast that Olin Co. will post 10.06 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, June 10th. Shareholders of record on Tuesday, May 10th were paid a dividend of $0.20 per share. The ex-dividend date was Monday, May 9th. This represents a $0.80 annualized dividend and a dividend yield of 1.68%. Olin’s dividend payout ratio is currently 8.97%.
Olin 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.
Featured Stories
Want to see what other hedge funds are holding OLN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Olin Co. (NYSE:OLN – Get Rating).
Receive News & Ratings for Olin Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Olin and related companies with MarketBeat.com’s FREE daily email newsletter.
George is Digismak’s reported cum editor with 13 years of experience in Journalism