O Brien Greene & Co. Inc Makes New $1.49 Million Investment in Olin Corporation $OLN

O Brien Greene & Co. Inc bought a new stake in shares of Olin Corporation (NYSE:OLN) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 59,600 shares of the specialty chemicals company’s stock, valued at approximately $1,489,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of OLN. Ilex Capital Partners UK LLP bought a new stake in shares of Olin in the second quarter worth $50,476,000. Norges Bank purchased a new position in Olin in the second quarter worth about $27,843,000. Qube Research & Technologies Ltd purchased a new position in Olin in the second quarter worth about $15,510,000. Prudential Financial Inc. grew its stake in shares of Olin by 5,469.7% during the 2nd quarter. Prudential Financial Inc. now owns 588,323 shares of the specialty chemicals company’s stock valued at $11,819,000 after purchasing an additional 577,760 shares during the period. Finally, Bank of America Corp DE increased its position in shares of Olin by 48.9% during the 2nd quarter. Bank of America Corp DE now owns 1,589,322 shares of the specialty chemicals company’s stock valued at $31,929,000 after purchasing an additional 521,620 shares during the last quarter. 88.67% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on OLN shares. Royal Bank Of Canada dropped their price objective on shares of Olin from $24.00 to $21.00 and set a “sector perform” rating on the stock in a report on Monday, February 2nd. Morgan Stanley dropped their price target on shares of Olin from $20.00 to $18.00 and set an “underweight” rating on the stock in a research note on Monday, February 2nd. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $26.00 price objective on shares of Olin in a research report on Tuesday, February 10th. Wall Street Zen cut Olin from a “hold” rating to a “sell” rating in a report on Saturday, January 10th. Finally, Citigroup lowered their target price on Olin from $24.00 to $21.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 3rd. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Olin has an average rating of “Hold” and an average target price of $23.20.

Insider Buying and Selling

In other news, VP R Nichole Sumner sold 4,750 shares of Olin stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $22.49, for a total transaction of $106,827.50. Following the sale, the vice president owned 24,771 shares in the company, valued at $557,099.79. This trade represents a 16.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Teresa M. Vermillion sold 4,500 shares of the company’s stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $20.86, for a total transaction of $93,870.00. Following the transaction, the vice president owned 17,199 shares of the company’s stock, valued at approximately $358,771.14. This represents a 20.74% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 101,500 shares of company stock valued at $2,274,478. Corporate insiders own 1.70% of the company’s stock.

Olin Stock Down 3.6%

Shares of OLN stock opened at $23.47 on Tuesday. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.35 and a quick ratio of 0.81. Olin Corporation has a one year low of $17.66 and a one year high of $27.35. The company’s fifty day moving average price is $22.88 and its 200-day moving average price is $22.56. The company has a market capitalization of $2.68 billion, a price-to-earnings ratio of -61.77 and a beta of 1.64.

Olin (NYSE:OLN) last issued its quarterly earnings results on Thursday, January 29th. The specialty chemicals company reported ($0.58) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.58). The business had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.61 billion. Olin had a negative return on equity of 0.47% and a negative net margin of 0.63%.Olin’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.09 EPS. Sell-side analysts expect that Olin Corporation will post 1.38 EPS for the current fiscal year.

Olin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Tuesday, March 3rd will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Tuesday, March 3rd. Olin’s dividend payout ratio (DPR) is -210.53%.

Olin Company Profile

Olin Corporation is a diversified manufacturer specializing in chemical products and ammunition. The company’s core business activities encompass the production and distribution of chlor-alkali products, epoxy resins and derivatives, and small-caliber ammunition under the Winchester brand. Olin’s chemical operations supply chlorine, caustic soda and related co-products to a wide range of end markets, including water treatment, pulp and paper, pharmaceuticals and general industrial applications.

In its Chlor Alkali Products & Vinyls segment, Olin operates multiple manufacturing facilities that produce chlorine and sodium hydroxide, along with vinyl chloride monomer and polyvinyl chloride (PVC) compounds.