Swiss National Bank Sells 5,300 Shares of Olin Corporation $OLN

Swiss National Bank lowered its position in shares of Olin Corporation (NYSE:OLN) by 2.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 225,832 shares of the specialty chemicals company’s stock after selling 5,300 shares during the period. Swiss National Bank owned approximately 0.20% of Olin worth $5,474,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fifth Third Bancorp boosted its holdings in Olin by 160.5% in the first quarter. Fifth Third Bancorp now owns 1,206 shares of the specialty chemicals company’s stock worth $29,000 after purchasing an additional 743 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Olin in the first quarter worth approximately $31,000. Allworth Financial LP boosted its stake in shares of Olin by 188.5% during the 1st quarter. Allworth Financial LP now owns 1,676 shares of the specialty chemicals company’s stock worth $37,000 after acquiring an additional 1,095 shares during the last quarter. Farther Finance Advisors LLC grew its position in shares of Olin by 183.8% during the 1st quarter. Farther Finance Advisors LLC now owns 2,645 shares of the specialty chemicals company’s stock valued at $63,000 after acquiring an additional 1,713 shares during the period. Finally, Blue Trust Inc. boosted its holdings in Olin by 149.4% in the 1st quarter. Blue Trust Inc. now owns 4,080 shares of the specialty chemicals company’s stock worth $99,000 after buying an additional 2,444 shares during the period. Institutional investors own 88.67% of the company’s stock.

Olin Trading Down 0.0%

OLN opened at $21.30 on Tuesday. The stock has a market capitalization of $2.44 billion, a PE ratio of -177.46 and a beta of 1.55. The firm’s fifty day moving average price is $20.57 and its 200 day moving average price is $22.20. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.48 and a quick ratio of 0.88. Olin Corporation has a 12-month low of $17.66 and a 12-month high of $49.60.

Olin (NYSE:OLN) last issued its earnings results on Monday, July 28th. The specialty chemicals company reported $0.05 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 analyst estimates 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 revenue was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.62 earnings per share. As a group, research analysts expect that Olin Corporation will post 1.38 EPS for the current fiscal year.

Olin Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Thursday, August 28th will be given a dividend of $0.20 per share. The ex-dividend date is Thursday, August 28th. This represents a $0.80 annualized dividend and a dividend yield of 3.8%. Olin’s dividend payout ratio (DPR) is -666.67%.

Wall Street Analysts Forecast Growth

OLN has been the topic of several recent research reports. UBS Group decreased their target price on shares of Olin from $23.00 to $22.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 29th. The Goldman Sachs Group dropped their target price on shares of Olin from $33.00 to $25.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 6th. KeyCorp dropped their target price on shares of Olin from $32.00 to $31.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 30th. 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. Finally, Morgan Stanley cut their price objective on shares of Olin from $28.00 to $20.00 and set an “underweight” rating on the stock in a report on Monday, May 12th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $25.57.

Insider Buying and Selling at Olin

In other 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 transaction of $126,660.00. Following the completion of the transaction, the vice president owned 17,199 shares in the company, valued at approximately $363,070.89. This trade represents a 25.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.70% of the company’s stock.

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.