US Bancorp DE Acquires 4,213 Shares of Olin Corporation (NYSE:OLN)

US Bancorp DE grew its holdings in Olin Corporation (NYSE:OLN) by 47.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,070 shares of the specialty chemicals company’s stock after purchasing an additional 4,213 shares during the period. US Bancorp DE’s holdings in Olin were worth $317,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Fuller & Thaler Asset Management Inc. increased its holdings in 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 acquiring an additional 467,680 shares during the period. Yacktman Asset Management LP increased its holdings in Olin by 3.1% during the 1st quarter. Yacktman Asset Management LP now owns 4,020,243 shares of the specialty chemicals company’s stock worth $97,451,000 after acquiring an additional 122,247 shares during the period. Dimensional Fund Advisors LP increased its holdings in Olin by 4.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,976,869 shares of the specialty chemicals company’s stock worth $134,413,000 after acquiring an additional 178,145 shares during the period. Millennium Management LLC increased its holdings in Olin by 9.1% during the 4th quarter. Millennium Management LLC now owns 3,201,233 shares of the specialty chemicals company’s stock worth $108,202,000 after acquiring an additional 265,745 shares during the period. Finally, Balyasny Asset Management L.P. increased its holdings in Olin by 0.6% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,371,246 shares of the specialty chemicals company’s stock worth $46,348,000 after acquiring an additional 8,092 shares during the period. Institutional investors own 88.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on OLN. Mizuho decreased their target price on shares of Olin from $24.00 to $23.00 and set a “neutral” rating on the stock in a report on Tuesday, July 29th. JPMorgan Chase & Co. decreased their target price on shares of Olin from $28.00 to $20.00 and set a “neutral” rating on the stock in a report on Tuesday, May 6th. Truist Financial decreased their target price on shares of Olin from $25.00 to $24.00 and set a “hold” rating on the stock in a report on Monday, May 5th. Royal Bank Of Canada cut their price target on shares of Olin from $25.00 to $23.00 and set a “sector perform” rating for the company in a research note on Thursday, July 3rd. Finally, Wells Fargo & Company cut their price target on shares of Olin from $22.00 to $21.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 30th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $25.57.

Olin Price Performance

Shares of Olin stock opened at $21.38 on Thursday. Olin Corporation has a 52-week low of $17.66 and a 52-week high of $49.60. The stock has a market capitalization of $2.45 billion, a price-to-earnings ratio of -178.17 and a beta of 1.55. The company has a fifty day moving average of $20.50 and a 200-day moving average of $22.55. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.88 and a current ratio of 1.48.

Olin (NYSE:OLN) last announced its quarterly earnings data on Monday, July 28th. The specialty chemicals company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.04). Olin had a negative net margin of 0.21% and a negative return on equity of 0.13%. The business had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.68 billion. During the same period last year, the company posted $0.62 EPS. Olin’s revenue for the quarter was up 7.0% on a year-over-year basis. Equities research analysts expect that Olin Corporation will post 1.38 EPS for the current year.

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.