Mutual of America Capital Management LLC Lowers Stock Holdings in Olin Co. (NYSE:OLN)

Mutual of America Capital Management LLC reduced its stake in Olin Co. (NYSE:OLNFree Report) by 5.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 71,621 shares of the specialty chemicals company’s stock after selling 4,309 shares during the quarter. Mutual of America Capital Management LLC owned 0.06% of Olin worth $4,211,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Sandy Spring Bank boosted its stake in shares of Olin by 145.6% in the fourth quarter. Sandy Spring Bank now owns 614 shares of the specialty chemicals company’s stock valued at $33,000 after buying an additional 364 shares in the last quarter. Fifth Third Bancorp boosted its stake in shares of Olin by 30.0% in the first quarter. Fifth Third Bancorp now owns 858 shares of the specialty chemicals company’s stock valued at $50,000 after buying an additional 198 shares in the last quarter. Quarry LP purchased a new stake in shares of Olin in the fourth quarter valued at approximately $50,000. ORG Partners LLC boosted its stake in shares of Olin by 1,100.0% in the fourth quarter. ORG Partners LLC now owns 960 shares of the specialty chemicals company’s stock valued at $52,000 after buying an additional 880 shares in the last quarter. Finally, GAMMA Investing LLC purchased a new stake in shares of Olin in the fourth quarter valued at approximately $96,000. 88.67% of the stock is currently owned by hedge funds and other institutional investors.

Olin Trading Up 2.0 %

Shares of OLN stock opened at $46.44 on Thursday. The firm has a 50-day moving average price of $51.42 and a 200 day moving average price of $53.18. Olin Co. has a twelve month low of $41.71 and a twelve month high of $60.60. The company has a market capitalization of $5.55 billion, a price-to-earnings ratio of 16.71, a PEG ratio of 0.27 and a beta of 1.44. The company has a current ratio of 1.38, a quick ratio of 0.80 and a debt-to-equity ratio of 1.22.

Olin (NYSE:OLNGet Free Report) last posted its quarterly earnings data on Friday, April 26th. The specialty chemicals company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.02. Olin had a net margin of 5.32% and a return on equity of 14.47%. The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the prior year, the company posted $1.16 EPS. The company’s quarterly revenue was down 11.3% compared to the same quarter last year. Research analysts forecast that Olin Co. will post 3.66 earnings per share for the current fiscal year.

Olin Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Thursday, May 9th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date of this dividend was Wednesday, May 8th. Olin’s dividend payout ratio is currently 28.78%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on OLN shares. Piper Sandler lifted their price objective on Olin from $72.00 to $75.00 and gave the stock an “overweight” rating in a report on Monday, April 29th. Citigroup lifted their price objective on Olin from $63.00 to $67.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Stifel Nicolaus lifted their price objective on Olin from $68.00 to $69.00 and gave the stock a “buy” rating in a report on Monday, April 29th. Barclays lifted their price objective on Olin from $57.00 to $59.00 and gave the stock an “equal weight” rating in a report on Thursday, April 4th. Finally, KeyCorp reduced their price objective on Olin from $73.00 to $69.00 and set an “overweight” rating for the company in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $59.27.

Get Our Latest Stock Report on Olin

Olin Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Olin (NYSE:OLN)

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