Olin Corporation $OLN Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. grew its stake in shares of Olin Corporation (NYSE:OLN) by 5.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,425,907 shares of the specialty chemicals company’s stock after acquiring an additional 72,000 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.24% of Olin worth $34,564,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of OLN. 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 valued at $153,582,000 after acquiring an additional 467,680 shares during the last quarter. Two Sigma Investments LP increased its stake in shares of Olin by 890.4% during 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 acquiring an additional 405,480 shares during the last quarter. Marshall Wace LLP increased its stake in shares of Olin by 1,960.7% during the 4th quarter. Marshall Wace LLP now owns 344,962 shares of the specialty chemicals company’s stock valued at $11,660,000 after acquiring an additional 328,222 shares during the last quarter. Millennium Management LLC increased its holdings in shares of 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 buying an additional 265,745 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Olin by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 11,748,584 shares of the specialty chemicals company’s stock worth $284,786,000 after buying an additional 245,604 shares during the last quarter. Institutional investors and hedge funds own 88.67% of the company’s stock.

Olin Stock Down 0.0%

Shares of NYSE OLN opened at $21.30 on Tuesday. Olin Corporation has a 12-month low of $17.66 and a 12-month high of $49.60. The company has a market cap of $2.44 billion, a P/E ratio of -177.46 and a beta of 1.55. The company has a current ratio of 1.48, a quick ratio of 0.88 and a debt-to-equity ratio of 1.50. The stock has a fifty day moving average price of $20.57 and a 200 day moving average price of $22.20.

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

Olin Dividend Announcement

The firm also recently announced 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 yield of 3.8%. Olin’s dividend payout ratio (DPR) is currently -666.67%.

Insider Transactions at Olin

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

Analyst Ratings Changes

A number of research firms have recently commented on OLN. Barclays dropped their price objective on Olin from $28.00 to $24.00 and set an “equal weight” rating for the company in a report on Wednesday, May 28th. Morgan Stanley dropped their price objective on Olin from $28.00 to $20.00 and set an “underweight” rating for the company in a report on Monday, May 12th. Mizuho dropped their price objective on Olin from $24.00 to $23.00 and set a “neutral” rating for the company in a report on Tuesday, July 29th. UBS Group dropped their price objective on Olin from $23.00 to $22.00 and set a “neutral” rating for the company in a report on Tuesday, July 29th. Finally, Wells Fargo & Company dropped their price objective on Olin from $22.00 to $21.00 and set an “equal weight” rating for the company in a report on Wednesday, July 30th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $25.57.

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.