Vanguard Group Inc. Buys 245,604 Shares of Olin Corporation $OLN

Vanguard Group Inc. grew its stake in Olin Corporation (NYSE:OLN) by 2.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,748,584 shares of the specialty chemicals company’s stock after acquiring an additional 245,604 shares during the period. Vanguard Group Inc. owned 10.20% of Olin worth $284,786,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in OLN. Fuller & Thaler Asset Management Inc. grew its stake in Olin by 11.5% in 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 in the last quarter. Two Sigma Investments LP grew its stake in Olin by 890.4% in the 4th quarter. Two Sigma Investments LP now owns 451,020 shares of the specialty chemicals company’s stock worth $15,244,000 after acquiring an additional 405,480 shares in the last quarter. Marshall Wace LLP boosted its stake in shares of Olin by 1,960.7% during the fourth 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 in the last quarter. Millennium Management LLC boosted its stake in shares of Olin by 9.1% during the fourth quarter. Millennium Management LLC now owns 3,201,233 shares of the specialty chemicals company’s stock valued at $108,202,000 after purchasing an additional 265,745 shares in the last quarter. Finally, Two Sigma Advisers LP bought a new position in shares of Olin during the fourth quarter valued at approximately $7,514,000. 88.67% of the stock is currently owned by institutional investors.

Olin Trading Down 1.3%

NYSE OLN opened at $21.31 on Monday. The company has a fifty day simple moving average of $20.56 and a two-hundred day simple moving average of $22.26. The stock has a market cap of $2.44 billion, a P/E ratio of -177.58 and a beta of 1.55. Olin Corporation has a 12-month low of $17.66 and a 12-month high of $49.60. The company has a current ratio of 1.48, a quick ratio of 0.88 and a debt-to-equity ratio of 1.50.

Olin (NYSE:OLN) last posted its quarterly earnings results 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). The company had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.68 billion. Olin had a negative return on equity of 0.13% and a negative net margin of 0.21%. The company’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.62 EPS. On average, analysts forecast that Olin Corporation will post 1.38 earnings per share for the current year.

Olin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Thursday, August 28th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Thursday, August 28th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.8%. Olin’s dividend payout ratio (DPR) is currently -666.67%.

Insider Activity

In other Olin news, VP Teresa M. Vermillion sold 6,000 shares of the firm’s stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $21.11, for a total value of $126,660.00. Following the completion of the transaction, the vice president owned 17,199 shares of the company’s stock, valued at approximately $363,070.89. This trade represents a 25.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.70% of the company’s stock.

Wall Street Analyst Weigh In

OLN has been the topic of a number of recent research reports. Mizuho dropped their price objective on shares of Olin from $24.00 to $23.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 29th. Morgan Stanley dropped their price objective on shares of Olin from $28.00 to $20.00 and set an “underweight” rating on the stock in a research note on Monday, May 12th. Wall Street Zen upgraded shares of Olin from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. Truist Financial dropped their price objective on shares of Olin from $25.00 to $24.00 and set a “hold” rating on the stock in a research note on Monday, May 5th. Finally, Barclays dropped their price objective on shares of Olin from $28.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 28th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $25.57.

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.