Olin Corporation $OLN Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue lessened its holdings in shares of Olin Corporation (NYSE:OLN) by 0.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 91,925 shares of the specialty chemicals company’s stock after selling 620 shares during the period. State of Alaska Department of Revenue owned approximately 0.08% of Olin worth $1,846,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of OLN. Fuller & Thaler Asset Management Inc. grew its holdings in Olin by 40.5% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 6,384,744 shares of the specialty chemicals company’s stock worth $154,766,000 after acquiring an additional 1,840,900 shares during the period. Hotchkis & Wiley Capital Management LLC grew its holdings in Olin by 11.5% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 12,191,163 shares of the specialty chemicals company’s stock worth $295,514,000 after acquiring an additional 1,259,795 shares during the period. Dimensional Fund Advisors LP grew its holdings in Olin by 14.3% during the first quarter. Dimensional Fund Advisors LP now owns 4,546,352 shares of the specialty chemicals company’s stock worth $110,204,000 after acquiring an additional 569,483 shares during the period. AQR Capital Management LLC grew its holdings in Olin by 52.5% in the first quarter. AQR Capital Management LLC now owns 1,288,202 shares of the specialty chemicals company’s stock valued at $31,226,000 after purchasing an additional 443,210 shares during the last quarter. Finally, Jump Financial LLC grew its holdings in Olin by 300.3% in the first quarter. Jump Financial LLC now owns 339,392 shares of the specialty chemicals company’s stock valued at $8,227,000 after purchasing an additional 254,601 shares during the last quarter. Institutional investors and hedge funds own 88.67% of the company’s stock.

Insiders Place Their Bets

In related news, VP Teresa M. Vermillion sold 6,000 shares of the stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $21.11, for a total transaction of $126,660.00. Following the transaction, the vice president directly owned 17,199 shares in the company, valued at approximately $363,070.89. This represents a 25.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on OLN shares. Mizuho lowered their target price on Olin from $24.00 to $23.00 and set a “neutral” rating on the stock in a report on Tuesday, July 29th. Citigroup lowered Olin from a “buy” rating to a “neutral” rating and set a $25.00 target price on the stock. in a report on Thursday. KeyCorp lowered their target price on Olin from $32.00 to $31.00 and set an “overweight” rating on the stock in a report on Wednesday, July 30th. UBS Group lowered their target price on Olin from $23.00 to $22.00 and set a “neutral” rating on the stock in a report on Tuesday, July 29th. Finally, Wall Street Zen raised Olin from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $25.57.

Olin Stock Down 1.5%

Shares of NYSE:OLN opened at $25.24 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.48 and a debt-to-equity ratio of 1.50. Olin Corporation has a 52-week low of $17.66 and a 52-week high of $48.48. The stock’s fifty day simple moving average is $22.64 and its 200-day simple moving average is $21.75. The company has a market capitalization of $2.89 billion, a P/E ratio of -210.33 and a beta of 1.68.

Olin (NYSE:OLN) last issued its quarterly earnings data on Monday, July 28th. The specialty chemicals company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter in the prior year, the company earned $0.62 earnings per share. The firm’s revenue was up 7.0% compared to the same quarter last year. As a group, equities research analysts forecast that Olin Corporation will post 1.38 earnings per share for the current fiscal year.

Olin Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Thursday, August 28th were given a dividend of $0.20 per share. The ex-dividend date was Thursday, August 28th. This represents a $0.80 annualized dividend and a yield of 3.2%. Olin’s dividend payout ratio is -666.67%.

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.