Olin Corporation (NYSE:OLN) Stake Raised by Affinity Investment Advisors LLC

Affinity Investment Advisors LLC raised its position in shares of Olin Corporation (NYSE:OLN) by 15.0% during the second quarter, according to its most recent filing with the SEC. The firm owned 9,891 shares of the specialty chemicals company’s stock after buying an additional 1,288 shares during the period. Affinity Investment Advisors LLC’s holdings in Olin Corporation were worth $299,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bollard Group LLC boosted its position 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 in the last quarter. World Asset Management Inc boosted its position in Olin Corporation by 1.7% in the first quarter. World Asset Management Inc now owns 10,125 shares of the specialty chemicals company’s stock worth $333,000 after buying an additional 168 shares in the last quarter. OppenheimerFunds Inc. boosted its position in Olin Corporation by 0.5% in the first quarter. OppenheimerFunds Inc. now owns 44,497 shares of the specialty chemicals company’s stock worth $1,462,000 after buying an additional 201 shares in the last quarter. Meadow Creek Investment Management LLC boosted its position 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 in the last quarter. Finally, Neuburgh Advisers LLC boosted its position in Olin Corporation by 6.9% in the first quarter. Neuburgh Advisers LLC now owns 6,138 shares of the specialty chemicals company’s stock worth $202,000 after buying an additional 396 shares in the last quarter. 92.85% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Olin Corporation (NYSE OLN) traded down 1.78% on Tuesday, reaching $30.36. The company had a trading volume of 625,535 shares. Olin Corporation has a 1-year low of $18.24 and a 1-year high of $33.88. The stock has a market capitalization of $5.05 billion, a P/E ratio of 118.13 and a beta of 1.43. The company’s 50 day moving average price is $30.14 and its 200-day moving average price is $30.57.

Olin Corporation (NYSE:OLN) last posted its quarterly earnings results on Monday, July 31st. The specialty chemicals company reported $0.01 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by $0.15. The business had revenue of $1.53 billion during 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%. The business’s revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.24 EPS. Equities analysts predict that Olin Corporation will post $1.14 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Thursday, August 10th will be paid a $0.20 dividend. The ex-dividend date is Tuesday, August 8th. This represents a $0.80 annualized dividend and a dividend yield of 2.57%. Olin Corporation’s dividend payout ratio (DPR) is 320.00%.

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A number of research firms have recently commented on OLN. BidaskClub raised Olin Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, June 14th. UBS AG reaffirmed a “neutral” rating and set a $30.00 target price (down previously from $33.00) on shares of Olin Corporation in a research note on Sunday, June 25th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $35.00 target price on shares of Olin Corporation in a research note on Tuesday, June 20th. Cowen and Company set a $39.00 target price on Olin Corporation and gave the company a “buy” rating in a research note on Friday, July 28th. Finally, Tudor Pickering began coverage on Olin Corporation in a research note on Friday, May 12th. They set a “buy” rating and a $37.00 target price on the stock. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $32.75.

In other Olin Corporation news, EVP John L. Mcintosh sold 24,000 shares of the business’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $31.54, for a total value of $756,960.00. Following the completion of the transaction, the executive vice president now owns 84,391 shares in the company, valued at $2,661,692.14. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP John L. Mcintosh sold 16,070 shares of the business’s stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $31.02, for a total transaction of $498,491.40. Following the completion of the transaction, the executive vice president now owns 60,391 shares of the company’s stock, valued at approximately $1,873,328.82. The disclosure for this sale can be found here. Insiders own 2.90% of the company’s stock.

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.

Institutional Ownership by Quarter for Olin Corporation (NYSE:OLN)

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