Allworth Financial LP Has $37,000 Stock Position in Olin Corporation (NYSE:OLN)

Allworth Financial LP lifted its stake in shares of Olin Corporation (NYSE:OLN) by 188.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,676 shares of the specialty chemicals company’s stock after purchasing an additional 1,095 shares during the period. Allworth Financial LP’s holdings in Olin were worth $37,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Norges Bank bought a new stake in Olin during the fourth quarter worth $47,887,000. Fuller & Thaler Asset Management Inc. increased its stake in shares of Olin by 11.5% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 4,543,844 shares of the specialty chemicals company’s stock worth $153,582,000 after purchasing an additional 467,680 shares during the last quarter. Two Sigma Investments LP raised its holdings in shares of Olin by 890.4% in the 4th quarter. Two Sigma Investments LP now owns 451,020 shares of the specialty chemicals company’s stock valued at $15,244,000 after purchasing an additional 405,480 shares during the period. Marshall Wace LLP lifted its stake in Olin by 1,960.7% in the 4th quarter. Marshall Wace LLP now owns 344,962 shares of the specialty chemicals company’s stock valued at $11,660,000 after purchasing an additional 328,222 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in Olin by 9.1% during the fourth quarter. Millennium Management LLC now owns 3,201,233 shares of the specialty chemicals company’s stock worth $108,202,000 after purchasing an additional 265,745 shares during the period. Institutional investors and hedge funds own 88.67% of the company’s stock.

Olin Trading Down 2.3%

Shares of NYSE:OLN opened at $20.40 on Friday. The business’s 50 day simple moving average is $20.70 and its 200 day simple moving average is $24.26. Olin Corporation has a 1 year low of $17.66 and a 1 year high of $49.60. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.56 and a quick ratio of 0.96. The company has a market capitalization of $2.35 billion, a P/E ratio of 40.00 and a beta of 1.52.

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

Olin Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Thursday, May 15th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.92%. The ex-dividend date of this dividend was Thursday, May 15th. Olin’s dividend payout ratio is currently 156.86%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on OLN shares. Citigroup dropped their price objective on Olin from $26.00 to $25.00 and set a “buy” rating on the stock in a research note on Tuesday, July 8th. JPMorgan Chase & Co. cut their price target on Olin from $28.00 to $20.00 and set a “neutral” rating for the company in a report on Tuesday, May 6th. Truist Financial reduced their price objective on shares of Olin from $25.00 to $24.00 and set a “hold” rating for the company in a research report on Monday, May 5th. Royal Bank Of Canada decreased their price objective on shares of Olin from $25.00 to $23.00 and set a “sector perform” rating on the stock in a report on Thursday, July 3rd. Finally, Barclays reduced their target price on shares of Olin from $28.00 to $24.00 and set an “equal weight” rating for the company in a report on Wednesday, May 28th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $27.33.

Olin Profile

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.