Northwestern Mutual Investment Management Company LLC raised its stake in shares of Olin Corporation (NYSE:OLN) by 0.0% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 28,511 shares of the specialty chemicals company’s stock after purchasing an additional 7 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in Olin Corporation were worth $708,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in the business. World Asset Management Inc boosted its stake in Olin Corporation by 1.7% during the 1st quarter. World Asset Management Inc now owns 10,125 shares of the specialty chemicals company’s stock valued at $333,000 after purchasing an additional 168 shares during the last quarter. OppenheimerFunds Inc. boosted its stake in Olin Corporation by 0.5% during the 1st quarter. OppenheimerFunds Inc. now owns 44,497 shares of the specialty chemicals company’s stock valued at $1,462,000 after purchasing an additional 201 shares during the last quarter. Meadow Creek Investment Management LLC boosted its stake in Olin Corporation by 6.9% during the 1st quarter. Meadow Creek Investment Management LLC now owns 4,464 shares of the specialty chemicals company’s stock valued at $147,000 after purchasing an additional 288 shares during the last quarter. Neuburgh Advisers LLC boosted its stake in Olin Corporation by 6.9% during the 1st quarter. Neuburgh Advisers LLC now owns 6,138 shares of the specialty chemicals company’s stock valued at $202,000 after purchasing an additional 396 shares during the last quarter. Finally, Teacher Retirement System of Texas boosted its stake in Olin Corporation by 3.5% during the 2nd quarter. Teacher Retirement System of Texas now owns 13,355 shares of the specialty chemicals company’s stock valued at $404,000 after purchasing an additional 453 shares during the last quarter. Institutional investors and hedge funds own 92.62% of the company’s stock.
Olin Corporation (NYSE:OLN) opened at 30.61 on Friday. The stock has a 50 day moving average price of $30.59 and a 200-day moving average price of $30.94. 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 $5.09 billion, a P/E ratio of 119.11 and a beta of 1.40.
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 Zacks’ consensus estimate of $0.16 by $0.15. Olin Corporation had a net margin of 0.72% and a return on equity of 5.80%. The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.51 billion. During the same quarter in the previous year, the company earned $0.24 EPS. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. On average, equities analysts anticipate that Olin Corporation will post $1.14 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Thursday, August 10th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date is Tuesday, August 8th. Olin Corporation’s payout ratio is 320.00%.
A number of research firms have issued reports on OLN. BidaskClub upgraded Olin Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, August 16th. Cowen and Company set a $39.00 price target on Olin Corporation and gave the company a “buy” rating in a research note on Friday, July 28th. Royal Bank Of Canada reiterated a “buy” rating and set a $35.00 price target on shares of Olin Corporation in a research note on Tuesday, June 20th. Finally, UBS AG reiterated a “neutral” rating and set a $30.00 price target (down previously from $33.00) on shares of Olin Corporation in a research note on Sunday, June 25th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $35.00.
In other news, VP Stephen C. Curley sold 5,000 shares of the stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $30.34, for a total transaction of $151,700.00. Following the sale, the vice president now owns 23,837 shares in the company, valued at $723,214.58. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP John L. Mcintosh sold 24,000 shares of the 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 sale, the executive vice president now owns 84,391 shares in the company, valued at approximately $2,661,692.14. The disclosure for this sale can be found here. In the last quarter, insiders have sold 45,070 shares of company stock worth $1,407,151. Corporate insiders own 2.90% of the company’s stock.
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Olin Corporation Company Profile
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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