M3 Advisory Group LLC Trims Stock Position in Olin Corporation $OLN

M3 Advisory Group LLC decreased its stake in Olin Corporation (NYSE:OLN) by 30.3% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 12,884 shares of the specialty chemicals company’s stock after selling 5,603 shares during the period. M3 Advisory Group LLC’s holdings in Olin were worth $259,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Personalized Indexing Management LLC boosted its stake in Olin by 6.5% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 28,505 shares of the specialty chemicals company’s stock valued at $573,000 after acquiring an additional 1,751 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Olin by 22.0% in the 2nd quarter. Blue Trust Inc. now owns 4,979 shares of the specialty chemicals company’s stock valued at $100,000 after purchasing an additional 899 shares during the period. KLP Kapitalforvaltning AS boosted its position in shares of Olin by 6.3% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 37,300 shares of the specialty chemicals company’s stock valued at $749,000 after purchasing an additional 2,200 shares during the period. Counterpoint Mutual Funds LLC purchased a new position in Olin during the 2nd quarter worth approximately $315,000. Finally, GAMMA Investing LLC increased its position in Olin by 274.5% during the second quarter. GAMMA Investing LLC now owns 4,146 shares of the specialty chemicals company’s stock worth $83,000 after buying an additional 3,039 shares during the period. 88.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on OLN shares. Fermium Researc upgraded shares of Olin to a “strong-buy” rating in a research report on Thursday, September 25th. KeyCorp cut their price target on Olin from $32.00 to $31.00 and set an “overweight” rating for the company in a research note on Wednesday, July 30th. Wall Street Zen raised Olin from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. Royal Bank Of Canada reduced their target price on shares of Olin from $25.00 to $23.00 and set a “sector perform” rating for the company in a research note on Thursday, July 3rd. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Olin in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Olin has an average rating of “Hold” and an average target price of $26.21.

Insider Activity at Olin

In related news, VP Teresa M. Vermillion sold 6,000 shares of the stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $21.11, for a total value of $126,660.00. Following the transaction, the vice president directly owned 17,199 shares of the company’s stock, valued at approximately $363,070.89. This trade represents a 25.86% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.70% of the stock is currently owned by insiders.

Olin Price Performance

NYSE:OLN opened at $22.36 on Monday. Olin Corporation has a 12-month low of $17.66 and a 12-month high of $48.00. The company’s 50-day moving average is $23.22 and its two-hundred day moving average is $21.70. The firm has a market cap of $2.56 billion, a price-to-earnings ratio of -186.33 and a beta of 1.68. The company has a current ratio of 1.48, a quick ratio of 0.88 and a debt-to-equity ratio of 1.50.

Olin (NYSE:OLN) last released its earnings results on Monday, July 28th. The specialty chemicals company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.04). The firm had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.68 billion. Olin had a negative return on equity of 0.13% and a negative net margin of 0.21%.The firm’s revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.62 earnings per share. Research analysts expect that Olin Corporation will post 1.38 EPS for the current year.

Olin Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Thursday, August 28th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date was Thursday, August 28th. Olin’s payout ratio is presently -666.67%.

About Olin

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.