Allianz Asset Management GmbH Increases Holdings in Olin Corporation $OLN

Allianz Asset Management GmbH boosted its position in Olin Corporation (NYSE:OLN) by 164.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 223,678 shares of the specialty chemicals company’s stock after buying an additional 139,110 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.20% of Olin worth $5,590,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in OLN. State of Wyoming purchased a new stake in shares of Olin in the 3rd quarter valued at $283,000. Thrivent Financial for Lutherans raised its position in Olin by 6.9% in the 3rd quarter. Thrivent Financial for Lutherans now owns 1,639,624 shares of the specialty chemicals company’s stock worth $40,974,000 after purchasing an additional 105,484 shares during the period. Berman McAleer LLC bought a new stake in Olin in the third quarter worth $456,000. SummerHaven Investment Management LLC purchased a new stake in Olin during the third quarter valued at about $939,000. Finally, Vanguard Personalized Indexing Management LLC grew its stake in shares of Olin by 15.0% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 32,791 shares of the specialty chemicals company’s stock valued at $819,000 after buying an additional 4,286 shares during the last quarter. 88.67% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO Todd A. Slater sold 92,250 shares of the company’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $22.48, for a total value of $2,073,780.00. Following the sale, the chief financial officer directly owned 44,291 shares of the company’s stock, valued at $995,661.68. This represents a 67.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Teresa M. Vermillion sold 4,500 shares of the stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $20.86, for a total transaction of $93,870.00. Following the completion of the transaction, the vice president owned 17,199 shares of the company’s stock, valued at approximately $358,771.14. The trade was a 20.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 101,500 shares of company stock valued at $2,274,478 over the last ninety days. Company insiders own 1.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on OLN. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $26.00 target price on shares of Olin in a report on Tuesday. Royal Bank Of Canada dropped their price objective on Olin from $24.00 to $21.00 and set a “sector perform” rating for the company in a research note on Monday, February 2nd. Citigroup decreased their target price on shares of Olin from $24.00 to $21.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 3rd. Morgan Stanley dropped their price target on shares of Olin from $20.00 to $18.00 and set an “underweight” rating for the company in a research report on Monday, February 2nd. Finally, BMO Capital Markets decreased their price objective on shares of Olin from $25.00 to $24.00 and set a “market perform” rating on the stock in a research report on Tuesday, February 3rd. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $23.07.

Olin Price Performance

Shares of NYSE OLN opened at $26.03 on Wednesday. Olin Corporation has a 1 year low of $17.66 and a 1 year high of $28.77. The stock has a market capitalization of $2.97 billion, a P/E ratio of -68.50 and a beta of 1.64. The company’s 50-day moving average is $22.19 and its 200 day moving average is $22.21. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.35 and a quick ratio of 0.81.

Olin (NYSE:OLN) last posted its quarterly earnings data on Thursday, January 29th. The specialty chemicals company reported ($0.58) earnings per share for the quarter, meeting the consensus estimate of ($0.58). Olin had a negative return on equity of 0.47% and a negative net margin of 0.63%.The business had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.61 billion. During the same period in the previous year, the firm posted $0.09 EPS. The business’s revenue was down .4% on a year-over-year basis. On average, sell-side analysts expect that Olin Corporation will post 1.38 earnings per share for the current year.

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.