Bank of Montreal Can bought a new position in Olin Corp. (NYSE:OLN) during the second quarter, Holdings Channel reports. The firm bought 123,213 shares of the company’s stock, valued at approximately $3,061,000.
A number of other institutional investors also recently made changes to their positions in the company. LS Investment Advisors LLC raised its position in shares of Olin Corp. by 8.9% in the second quarter. LS Investment Advisors LLC now owns 9,915 shares of the company’s stock worth $246,000 after buying an additional 813 shares during the last quarter. Banced Corp bought a new position in shares of Olin Corp. during the second quarter worth $267,000. Capstone Asset Management Co. raised its position in shares of Olin Corp. by 4.8% in the second quarter. Capstone Asset Management Co. now owns 13,395 shares of the company’s stock worth $333,000 after buying an additional 610 shares during the last quarter. Nisa Investment Advisors LLC raised its position in shares of Olin Corp. by 1,544.4% in the second quarter. Nisa Investment Advisors LLC now owns 14,800 shares of the company’s stock worth $368,000 after buying an additional 13,900 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of Olin Corp. during the first quarter worth $376,000. 92.85% of the stock is owned by hedge funds and other institutional investors.
Shares of Olin Corp. (NYSE:OLN) traded up 2.68% during midday trading on Monday, reaching $20.68. 1,424,208 shares of the company traded hands. The firm’s market capitalization is $3.42 billion. Olin Corp. has a 12-month low of $12.29 and a 12-month high of $26.46. The company has a 50-day moving average of $20.09 and a 200 day moving average of $21.46.
Olin Corp. (NYSE:OLN) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.31 by $0.07. Olin Corp. had a negative net margin of 2.05% and a positive return on equity of 4.25%. The company earned $1.36 billion during the quarter, compared to the consensus estimate of $1.47 billion. During the same period last year, the firm posted $0.32 earnings per share. The company’s revenue for the quarter was up 154.8% on a year-over-year basis. On average, equities analysts forecast that Olin Corp. will post $1.27 earnings per share for the current year.
A number of brokerages recently weighed in on OLN. Cowen and Company raised shares of Olin Corp. from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $18.00 to $31.00 in a research note on Tuesday, June 28th. Longbow Research downgraded shares of Olin Corp. from a “neutral” rating to an “underperform” rating and set a $17.00 price objective for the company. in a research note on Wednesday, September 7th. Zacks Investment Research upgraded shares of Olin Corp. from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research note on Wednesday, July 6th. RBC Capital Markets restated a “buy” rating and set a $24.00 price objective (down from $28.00) on shares of Olin Corp. in a research note on Friday, July 22nd. Finally, Nomura restated a “buy” rating on shares of Olin Corp. in a research note on Tuesday, July 12th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. Olin Corp. has a consensus rating of “Buy” and an average price target of $22.67.
In other Olin Corp. news, EVP John L. Mcintosh sold 10,000 shares of Olin Corp. stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $21.59, for a total value of $215,900.00. Following the completion of the sale, the executive vice president now directly owns 60,391 shares of the company’s stock, valued at $1,303,841.69. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 2.80% of the stock is currently owned by company insiders.
About Olin Corp.
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, hydrogen, bleach products and potassium hydroxide.
Want to see what other hedge funds are holding OLN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Olin Corp. (NYSE:OLN).
Receive News & Ratings for Olin Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Olin Corp. and related companies with MarketBeat.com's FREE daily email newsletter.