Nisa Investment Advisors LLC Sells 1,354 Shares of Olin Corporation (NYSE:OLN)

Nisa Investment Advisors LLC lowered its holdings in Olin Corporation (NYSE:OLN) by 11.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,101 shares of the specialty chemicals company’s stock after selling 1,354 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Olin were worth $245,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Fifth Third Bancorp lifted its stake in Olin by 160.5% during the 1st quarter. Fifth Third Bancorp now owns 1,206 shares of the specialty chemicals company’s stock valued at $29,000 after acquiring an additional 743 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Olin in the 1st quarter valued at $31,000. Covestor Ltd lifted its stake in shares of Olin by 45.8% in the 4th quarter. Covestor Ltd now owns 1,334 shares of the specialty chemicals company’s stock valued at $45,000 after purchasing an additional 419 shares during the period. Farther Finance Advisors LLC raised its position in Olin by 183.8% during the first quarter. Farther Finance Advisors LLC now owns 2,645 shares of the specialty chemicals company’s stock worth $63,000 after acquiring an additional 1,713 shares during the period. Finally, CoreFirst Bank & Trust purchased a new position in Olin during the fourth quarter valued at $66,000. Hedge funds and other institutional investors own 88.67% of the company’s stock.

Olin Trading Up 2.2%

Shares of NYSE OLN opened at $20.89 on Friday. The firm has a market capitalization of $2.41 billion, a PE ratio of 40.96 and a beta of 1.52. The business has a 50-day moving average price of $20.71 and a two-hundred day moving average price of $24.34. Olin Corporation has a one year low of $17.66 and a one year high of $50.61. The company has a current ratio of 1.56, a quick ratio of 0.96 and a debt-to-equity ratio of 1.48.

Olin (NYSE:OLN) last issued its earnings results on Thursday, May 1st. The specialty chemicals company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.14. The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.58 billion. Olin had a return on equity of 3.13% and a net margin of 0.94%. Olin’s revenue was up 1.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.40 earnings per share. As a group, analysts predict that Olin Corporation will post 1.38 earnings per share for the current fiscal year.

Olin Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Thursday, May 15th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.83%. The ex-dividend date was Thursday, May 15th. Olin’s dividend payout ratio is 156.86%.

Analyst Ratings Changes

OLN has been the subject of a number of analyst reports. JPMorgan Chase & Co. dropped their price objective on shares of Olin from $28.00 to $20.00 and set a “neutral” rating for the company in a report on Tuesday, May 6th. Piper Sandler lowered their target price on shares of Olin from $33.00 to $26.00 and set a “neutral” rating for the company in a research note on Monday, April 7th. Morgan Stanley reduced their price target on shares of Olin from $28.00 to $20.00 and set an “underweight” rating on the stock in a research report on Monday, May 12th. Wall Street Zen cut shares of Olin from a “hold” rating to a “sell” rating in a research report on Friday, June 27th. Finally, UBS Group increased their price target on shares of Olin from $22.00 to $23.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 9th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $27.33.

About Olin

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.