World Asset Management Inc Purchases 168 Shares of Olin Co. (OLN)

World Asset Management Inc increased its position in Olin Co. (NYSE:OLN) by 1.7% during the first quarter, Holdings Channel reports. The firm owned 10,125 shares of the specialty chemicals company’s stock after buying an additional 168 shares during the period. World Asset Management Inc’s holdings in Olin were worth $333,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Bollard Group LLC boosted its position in Olin by 0.6% in the first quarter. Bollard Group LLC now owns 3,180 shares of the specialty chemicals company’s stock valued at $105,000 after buying an additional 19 shares during the period. First Interstate Bank boosted its position in Olin by 1.6% in the fourth quarter. First Interstate Bank now owns 6,300 shares of the specialty chemicals company’s stock valued at $161,000 after buying an additional 100 shares during the period. Tyers Asset Management LLC acquired a new position in Olin during the fourth quarter valued at $187,000. Banced Corp acquired a new position in Olin during the first quarter valued at $201,000. Finally, Sheets Smith Wealth Management acquired a new position in Olin during the first quarter valued at $221,000.

Institutional Ownership by Quarter for Olin (NYSE:OLN)

Olin Co. (NYSE:OLN) traded up 1.53% on Thursday, hitting $29.79. The company’s stock had a trading volume of 1,963,199 shares. The stock has a market cap of $4.94 billion, a PE ratio of 103.80 and a beta of 1.32. Olin Co. has a 12 month low of $18.24 and a 12 month high of $33.88. The firm has a 50 day moving average of $31.11 and a 200-day moving average of $29.31.

Olin (NYSE:OLN) last posted its earnings results on Tuesday, May 2nd. The specialty chemicals company reported $0.14 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.24 by $0.10. Olin had a negative net margin of 0.07% and a positive return on equity of 7.56%. The company had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.44 billion. On average, analysts expect that Olin Co. will post $1.31 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 9th. Stockholders of record on Wednesday, May 10th will be issued a $0.20 dividend. The ex-dividend date is Monday, May 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.69%. Olin’s dividend payout ratio is presently -2,665.78%.

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Several research firms have recently weighed in on OLN. Tudor Pickering began coverage on Olin in a report on Friday, May 12th. They set a “buy” rating and a $37.00 price objective on the stock. Bank of America Corp began coverage on Olin in a report on Monday, May 8th. They set a “buy” rating and a $40.00 price objective on the stock. Zacks Investment Research upgraded Olin from a “hold” rating to a “buy” rating and set a $36.00 price objective on the stock in a report on Thursday, March 9th. Royal Bank of Canada reiterated a “buy” rating and set a $35.00 price objective on shares of Olin in a report on Tuesday, May 16th. Finally, Monness Crespi & Hardt cut Olin from a “buy” rating to a “neutral” rating and set a $28.00 price objective on the stock. in a report on Thursday, February 2nd. They noted that the move was a valuation call. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Olin currently has an average rating of “Buy” and a consensus target price of $32.86.

Olin 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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “OLN”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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