Olin Corporation (NYSE:OLN) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lessened its position in Olin Corporation (NYSE:OLN) by 3.3% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 59,548 shares of the specialty chemicals company’s stock after selling 2,043 shares during the period. Mutual of America Capital Management LLC owned approximately 0.05% of Olin worth $1,443,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Cerity Partners LLC increased its holdings in shares of Olin by 47.4% in the 1st quarter. Cerity Partners LLC now owns 98,167 shares of the specialty chemicals company’s stock valued at $2,380,000 after purchasing an additional 31,579 shares in the last quarter. Allworth Financial LP increased its holdings in shares of Olin by 188.5% in the 1st quarter. Allworth Financial LP now owns 1,676 shares of the specialty chemicals company’s stock valued at $37,000 after purchasing an additional 1,095 shares in the last quarter. Yacktman Asset Management LP increased its holdings in shares of Olin by 3.1% in the 1st quarter. Yacktman Asset Management LP now owns 4,020,243 shares of the specialty chemicals company’s stock valued at $97,451,000 after purchasing an additional 122,247 shares in the last quarter. M&T Bank Corp increased its holdings in shares of Olin by 75.4% in the 1st quarter. M&T Bank Corp now owns 14,118 shares of the specialty chemicals company’s stock valued at $342,000 after purchasing an additional 6,071 shares in the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. increased its holdings in shares of Olin by 3.5% in the 1st quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 57,760 shares of the specialty chemicals company’s stock valued at $1,400,000 after purchasing an additional 1,960 shares in the last quarter. Institutional investors and hedge funds own 88.67% of the company’s stock.

Olin Stock Performance

NYSE:OLN opened at $20.40 on Monday. The firm has a 50 day simple moving average of $20.68 and a 200-day simple moving average of $24.03. 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 firm has a market cap of $2.35 billion, a PE ratio of 40.00 and a beta of 1.52. Olin Corporation has a 1-year low of $17.66 and a 1-year high of $49.60.

Olin (NYSE:OLN) last posted its quarterly earnings data on Thursday, May 1st. The specialty chemicals company reported $0.04 earnings per share 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 net margin of 0.94% and a return on equity of 3.13%. The company’s revenue was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.40 earnings per share. On average, equities analysts expect that Olin Corporation will post 1.38 EPS for the current year.

Olin Announces Dividend

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

Analyst Upgrades and Downgrades

OLN has been the subject of a number of research analyst reports. Citigroup cut their price target on shares of Olin from $26.00 to $25.00 and set a “buy” rating for the company in a report on Tuesday, July 8th. The Goldman Sachs Group cut their price target on shares of Olin from $33.00 to $25.00 and set a “neutral” rating for the company in a report on Tuesday, May 6th. Wall Street Zen downgraded shares of Olin from a “hold” rating to a “sell” rating in a report on Friday, June 27th. Barclays cut their price target 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. Finally, Royal Bank Of Canada cut their target price on shares of Olin from $25.00 to $23.00 and set a “sector perform” rating for the company in a research report on Thursday, July 3rd. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Olin currently has a consensus rating of “Hold” and a consensus price target of $27.33.

Olin Company 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.