Federated Hermes Inc. Has $256,000 Stock Position in Olin Corporation $OLN

Federated Hermes Inc. cut its holdings in shares of Olin Corporation (NYSE:OLN) by 76.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,242 shares of the specialty chemicals company’s stock after selling 32,919 shares during the quarter. Federated Hermes Inc.’s holdings in Olin were worth $256,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Olin in the first quarter worth approximately $32,000. Evelyn Partners Investment Management LLP grew its position in Olin by 6,360.0% during the second quarter. Evelyn Partners Investment Management LLP now owns 1,615 shares of the specialty chemicals company’s stock valued at $32,000 after purchasing an additional 1,590 shares in the last quarter. SJS Investment Consulting Inc. acquired a new position in Olin in the 3rd quarter valued at approximately $49,000. HHM Wealth Advisors LLC lifted its position in Olin by 30.5% in the 2nd quarter. HHM Wealth Advisors LLC now owns 4,126 shares of the specialty chemicals company’s stock worth $83,000 after buying an additional 965 shares in the last quarter. Finally, Headlands Technologies LLC boosted its stake in shares of Olin by 67.6% during the 2nd quarter. Headlands Technologies LLC now owns 4,400 shares of the specialty chemicals company’s stock valued at $88,000 after buying an additional 1,775 shares during the period. Hedge funds and other institutional investors own 88.67% of the company’s stock.

Olin Stock Performance

OLN opened at $24.88 on Monday. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.81 and a current ratio of 1.35. The company has a market cap of $2.84 billion, a PE ratio of -65.47 and a beta of 1.64. The stock has a 50-day moving average of $22.03 and a 200-day moving average of $22.15. Olin Corporation has a 52-week low of $17.66 and a 52-week high of $28.77.

Olin (NYSE:OLN) last issued its quarterly earnings data on Thursday, January 29th. The specialty chemicals company reported ($0.58) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.58). The business had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.61 billion. Olin had a negative return on equity of 0.47% and a negative net margin of 0.63%.The firm’s revenue was down .4% compared to the same quarter last year. During the same period last year, the business earned $0.09 EPS. As a group, equities research analysts forecast that Olin Corporation will post 1.38 earnings per share for the current fiscal year.

Olin Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 12th. Investors of record on Friday, November 28th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend was Friday, November 28th. Olin’s dividend payout ratio is currently -210.53%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on OLN shares. Royal Bank Of Canada lowered their price target on shares of Olin from $24.00 to $21.00 and set a “sector perform” rating on the stock in a report on Monday, February 2nd. UBS Group set a $21.00 target price on Olin in a research note on Monday, February 2nd. Truist Financial dropped their target price on Olin from $23.00 to $20.00 and set a “hold” rating on the stock in a research report on Monday, February 2nd. Wall Street Zen lowered Olin from a “hold” rating to a “sell” rating in a report on Saturday, January 10th. Finally, BMO Capital Markets lowered their price target on Olin from $25.00 to $24.00 and set a “market perform” rating for the company in a research note on Tuesday, February 3rd. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $22.86.

Insider Activity at Olin

In other news, VP Teresa M. Vermillion sold 4,500 shares of the firm’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 sale, the vice president directly owned 17,199 shares of the company’s stock, valued at approximately $358,771.14. This trade represents a 20.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Todd A. Slater sold 92,250 shares of Olin stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $22.48, for a total value of $2,073,780.00. Following the completion of the transaction, the chief financial officer owned 44,291 shares in the company, valued at $995,661.68. The trade was a 67.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 101,500 shares of company stock worth $2,274,478. 1.60% of the stock is owned by insiders.

Olin Profile

Olin Corporation is a diversified manufacturer specializing in chemical products and ammunition. The company’s core business activities encompass the production and distribution of chlor-alkali products, epoxy resins and derivatives, and small-caliber ammunition under the Winchester brand. Olin’s chemical operations supply chlorine, caustic soda and related co-products to a wide range of end markets, including water treatment, pulp and paper, pharmaceuticals and general industrial applications.

In its Chlor Alkali Products & Vinyls segment, Olin operates multiple manufacturing facilities that produce chlorine and sodium hydroxide, along with vinyl chloride monomer and polyvinyl chloride (PVC) compounds.