LS Investment Advisors LLC increased its stake in shares of Olin Corp. (NYSE:OLN) by 8.9% during the second quarter, Holdings Channel reports. The institutional investor owned 9,915 shares of the company’s stock after buying an additional 813 shares during the period. LS Investment Advisors LLC’s holdings in Olin Corp. were worth $246,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. 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 period. Foundry Partners LLC acquired a new position in shares of Olin Corp. during the second quarter worth about $6,323,000. 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 period. Banced Corp acquired a new position in shares of Olin Corp. during the second quarter worth about $267,000. Finally, BNP Paribas Arbitrage SA raised its position in shares of Olin Corp. by 58.5% in the second quarter. BNP Paribas Arbitrage SA now owns 152,108 shares of the company’s stock worth $3,778,000 after buying an additional 56,128 shares during the period. Institutional investors own 92.85% of the company’s stock.
Olin Corp. (NYSE:OLN) traded down 0.84% during midday trading on Friday, reaching $18.89. The company’s stock had a trading volume of 1,503,890 shares. The company’s 50-day moving average price is $20.42 and its 200-day moving average price is $20.98. Olin Corp. has a 1-year low of $12.29 and a 1-year high of $26.46. The company’s market capitalization is $3.12 billion.
Olin Corp. (NYSE:OLN) last announced its earnings results on Tuesday, August 2nd. The company reported $0.24 earnings per share (EPS) for the quarter, missing the Zacks’ 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 business earned $1.36 billion during the quarter, compared to analyst estimates of $1.47 billion. During the same period in the previous year, the company earned $0.32 earnings per share. The business’s revenue for the quarter was up 154.8% on a year-over-year basis. On average, analysts predict that Olin Corp. will post $1.27 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Wednesday, August 10th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 4.24%. The ex-dividend date was Monday, August 8th. Olin Corp.’s dividend payout ratio is currently -150.94%.
A number of brokerages have recently issued reports on OLN. Nomura restated a “buy” rating on shares of Olin Corp. in a research report on Tuesday, July 12th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $28.00 price objective (up from $25.00) on shares of Olin Corp. in a research report on Monday, June 13th. Cowen and Company lowered their price objective on shares of Olin Corp. from $31.00 to $29.00 and set an “outperform” rating on the stock in a research report on Friday, July 29th. Zacks Investment Research lowered shares of Olin Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, July 26th. Finally, RBC Capital Markets reiterated a “buy” rating and issued a $24.00 price objective (down from $28.00) on shares of Olin Corp. in a research report on Friday, July 22nd. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $23.11.
In related news, EVP John L. Mcintosh sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $21.59, for a total transaction of $215,900.00. Following the sale, the executive vice president now directly owns 60,391 shares of the company’s stock, valued at approximately $1,303,841.69. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.80% of the company’s stock.
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.
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