Mutual of America Capital Management LLC Sells 2,289 Shares of Olin Corporation $OLN

Mutual of America Capital Management LLC lowered its position in Olin Corporation (NYSE:OLN) by 3.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 57,259 shares of the specialty chemicals company’s stock after selling 2,289 shares during the period. Mutual of America Capital Management LLC’s holdings in Olin were worth $1,150,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in OLN. Fuller & Thaler Asset Management Inc. lifted its stake in Olin by 40.5% in 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 purchasing an additional 1,840,900 shares during the last quarter. Hotchkis & Wiley Capital Management LLC lifted its stake in Olin by 11.5% in 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 purchasing an additional 1,259,795 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Olin by 14.3% in 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 purchasing an additional 569,483 shares during the last quarter. AQR Capital Management LLC lifted its stake 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 worth $31,226,000 after purchasing an additional 443,210 shares during the last quarter. Finally, Jump Financial LLC lifted its stake in Olin by 300.3% in the first quarter. Jump Financial LLC now owns 339,392 shares of the specialty chemicals company’s stock worth $8,227,000 after purchasing an additional 254,601 shares during the last quarter. Institutional investors own 88.67% of the company’s stock.

Wall Street Analyst Weigh In

OLN has been the topic of a number of research analyst reports. Wells Fargo & Company upped their price target on shares of Olin from $21.00 to $25.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 7th. Citigroup cut shares of Olin from a “buy” rating to a “neutral” rating and set a $25.00 price target on the stock. in a report on Thursday, October 2nd. Weiss Ratings restated a “sell (d+)” rating on shares of Olin in a report on Saturday. UBS Group upped their price target on shares of Olin from $21.00 to $24.00 and gave the stock a “neutral” rating in a report on Monday, October 6th. Finally, Fermium Researc upgraded shares of Olin to a “strong-buy” rating in a report on Thursday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $25.71.

Insider Activity at Olin

In other Olin news, VP Teresa M. Vermillion sold 6,000 shares of the 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 sale, the vice president directly owned 17,199 shares of the company’s stock, 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. Insiders own 1.70% of the company’s stock.

Olin Trading Up 0.3%

Shares of NYSE:OLN opened at $24.05 on Monday. The company has a market capitalization of $2.76 billion, a PE ratio of -200.44 and a beta of 1.68. 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 Corporation has a 12-month low of $17.66 and a 12-month high of $44.76. The business’s fifty day simple moving average is $24.03 and its 200-day simple moving average is $21.85.

Olin (NYSE:OLN) last issued 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 company had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.68 billion. Olin had a negative net margin of 0.21% and a negative return on equity of 0.13%. Olin’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.62 EPS. As a group, equities research analysts predict that Olin Corporation will post 1.38 earnings per share for the current fiscal year.

Olin Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Thursday, August 28th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend was Thursday, August 28th. Olin’s dividend payout ratio is presently -666.67%.

Olin Company 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.