Olin Corporation $OLN Shares Bought by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS boosted its position in shares of Olin Corporation (NYSE:OLN) by 6.3% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 37,300 shares of the specialty chemicals company’s stock after acquiring an additional 2,200 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Olin were worth $749,000 at the end of the most recent reporting period.

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

Insider Buying and Selling

In related news, VP Teresa M. Vermillion sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $21.11, for a total value 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 legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

OLN has been the subject of several analyst reports. Wall Street Zen raised Olin from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. UBS Group boosted their price objective on Olin from $21.00 to $24.00 and gave the company a “neutral” rating in a report on Monday, October 6th. Weiss Ratings reissued a “sell (d+)” rating on shares of Olin in a report on Wednesday, October 8th. Fermium Researc upgraded Olin to a “strong-buy” rating in a research note on Thursday, September 25th. Finally, Royal Bank Of Canada set a $26.00 price target on Olin and gave the stock a “sector perform” rating in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $25.71.

Olin Trading Down 1.2%

Shares of Olin stock opened at $23.93 on Friday. The stock has a market cap of $2.74 billion, a P/E ratio of -199.42 and a beta of 1.68. The stock’s 50 day simple moving average is $23.65 and its 200-day simple moving average is $21.73. Olin Corporation has a 1-year low of $17.66 and a 1-year high of $48.00. 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 (NYSE:OLN) last released its quarterly earnings data 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). 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 analyst estimates of $1.68 billion. During the same quarter in the prior year, the company posted $0.62 earnings per share. The company’s revenue was up 7.0% on a year-over-year basis. Analysts predict that Olin Corporation will post 1.38 EPS for the current fiscal year.

Olin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Thursday, August 28th were issued a $0.20 dividend. The ex-dividend date was Thursday, August 28th. This represents a $0.80 dividend on an annualized basis and a yield of 3.3%. Olin’s dividend payout ratio is currently -666.67%.

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.