Envestnet Asset Management Inc. Has $248,000 Stock Position in Olin Corporation $OLN

Envestnet Asset Management Inc. lowered its stake in shares of Olin Corporation (NYSE:OLN) by 58.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,358 shares of the specialty chemicals company’s stock after selling 17,144 shares during the period. Envestnet Asset Management Inc.’s holdings in Olin were worth $248,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Olin during the first quarter worth $32,000. UMB Bank n.a. increased its stake in shares of Olin by 134.9% during the 2nd quarter. UMB Bank n.a. now owns 1,736 shares of the specialty chemicals company’s stock worth $35,000 after purchasing an additional 997 shares during the last quarter. Quarry LP bought a new stake in shares of Olin in the 1st quarter valued at about $45,000. GAMMA Investing LLC raised its holdings in shares of Olin by 274.5% in the 2nd quarter. GAMMA Investing LLC now owns 4,146 shares of the specialty chemicals company’s stock valued at $83,000 after purchasing an additional 3,039 shares during the period. Finally, Summit Securities Group LLC bought a new stake in Olin in the first quarter valued at approximately $88,000. 88.67% of the stock is owned by institutional investors.

Olin Stock Up 2.8%

Shares of OLN opened at $21.36 on Friday. The company has a current ratio of 1.56, a quick ratio of 0.89 and a debt-to-equity ratio of 1.49. Olin Corporation has a 12 month low of $17.66 and a 12 month high of $43.76. The firm’s 50 day moving average is $22.14 and its 200-day moving average is $21.66. The stock has a market capitalization of $2.44 billion, a PE ratio of 46.43, a P/E/G ratio of 6.82 and a beta of 1.79.

Olin (NYSE:OLN) last issued its quarterly earnings results on Monday, October 27th. The specialty chemicals company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.31. Olin had a return on equity of 3.36% and a net margin of 0.79%.The business had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.74 billion. During the same period in the previous year, the company posted ($0.21) earnings per share. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. Equities research analysts forecast that Olin Corporation will post 1.38 EPS for the current year.

Olin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 28th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend is Friday, November 28th. Olin’s dividend payout ratio is 173.91%.

Insider Activity at Olin

In related news, VP Teresa M. Vermillion sold 4,500 shares of the business’s stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $20.86, for a total value of $93,870.00. Following the completion of the transaction, the vice president owned 17,199 shares of the company’s stock, valued at $358,771.14. The trade was a 20.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

OLN has been the topic of several research reports. Royal Bank Of Canada set a $26.00 price objective on shares of Olin and gave the company a “sector perform” rating in a report on Tuesday, October 14th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Olin in a research note on Wednesday, October 8th. Mizuho set a $26.00 price objective on shares of Olin in a research report on Friday, October 3rd. Wells Fargo & Company decreased their target price on Olin from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 29th. Finally, Wall Street Zen upgraded Olin from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $25.00.

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.