LS Investment Advisors LLC raised its stake in Olin Corporation (NYSE:OLN) by 17.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,229 shares of the specialty chemicals company’s stock after buying an additional 2,006 shares during the period. LS Investment Advisors LLC’s holdings in Olin Corporation were worth $401,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of the company. Bollard Group LLC increased its stake 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 worth $105,000 after buying an additional 19 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd. purchased a new stake in Olin Corporation during the first quarter worth $118,000. Meadow Creek Investment Management LLC increased its stake 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 worth $147,000 after buying an additional 288 shares during the period. Creative Planning increased its stake in Olin Corporation by 130.8% in the second quarter. Creative Planning now owns 5,050 shares of the specialty chemicals company’s stock worth $153,000 after buying an additional 2,862 shares during the period. Finally, Banced Corp purchased a new stake in Olin Corporation during the first quarter worth $201,000. Institutional investors and hedge funds own 93.02% of the company’s stock.
Shares of Olin Corporation (NYSE OLN) traded up 1.35% during midday trading on Friday, hitting $30.02. The stock had a trading volume of 1,770,151 shares. The stock has a 50-day moving average of $30.43 and a 200 day moving average of $30.82. Olin Corporation has a 52 week low of $18.24 and a 52 week high of $33.88. The stock has a market cap of $4.99 billion, a PE ratio of 116.81 and a beta of 1.43.
Olin Corporation (NYSE:OLN) last released its quarterly earnings data on Monday, July 31st. The specialty chemicals company reported $0.01 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.16 by $0.15. The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.51 billion. Olin Corporation had a return on equity of 5.80% and a net margin of 0.72%. Olin Corporation’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.24 earnings per share. Analysts anticipate that Olin Corporation will post $1.14 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Thursday, August 10th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date is Tuesday, August 8th. Olin Corporation’s dividend payout ratio is 320.00%.
A number of equities research analysts have weighed in on the company. Royal Bank Of Canada restated a “buy” rating and issued a $35.00 target price on shares of Olin Corporation in a research report on Tuesday, May 16th. BidaskClub upgraded Olin Corporation from a “hold” rating to a “buy” rating in a research report on Sunday, July 16th. Tudor Pickering assumed coverage on Olin Corporation in a research report on Friday, May 12th. They issued a “buy” rating and a $37.00 target price for the company. Cowen and Company set a $39.00 target price on Olin Corporation and gave the stock a “buy” rating in a research report on Friday, July 28th. Finally, Bank of America Corporation assumed coverage on Olin Corporation in a research report on Monday, May 8th. They issued a “buy” rating and a $40.00 target price for the company. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $32.75.
In other Olin Corporation news, VP Stephen C. Curley sold 5,000 shares of the company’s stock in a transaction that occurred 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 directly owns 23,837 shares in the company, valued at approximately $723,214.58. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP John L. Mcintosh sold 24,000 shares of the company’s stock in a transaction that occurred 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 owns 84,391 shares of the company’s stock, valued at $2,661,692.14. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 45,070 shares of company stock valued at $1,407,151. 2.90% of the stock is owned by corporate insiders.
About Olin Corporation
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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