Swiss National Bank lifted its position in shares of Olin Co. (NYSE:OLN) by 2.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 283,132 shares of the specialty chemicals company’s stock after purchasing an additional 7,500 shares during the quarter. Swiss National Bank owned about 0.17% of Olin worth $10,074,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bessemer Group Inc. boosted its position in shares of Olin by 971.4% during the fourth quarter. Bessemer Group Inc. now owns 4,725 shares of the specialty chemicals company’s stock valued at $168,000 after purchasing an additional 4,284 shares in the last quarter. Naples Global Advisors LLC bought a new stake in shares of Olin during the fourth quarter valued at approximately $206,000. Fox Run Management L.L.C. bought a new stake in shares of Olin during the fourth quarter valued at approximately $210,000. Neuberger Berman Group LLC bought a new stake in shares of Olin during the third quarter valued at approximately $216,000. Finally, Heartland Advisors Inc. bought a new stake in shares of Olin during the third quarter valued at approximately $217,000. Institutional investors own 88.31% of the company’s stock.
OLN has been the topic of several research reports. Zacks Investment Research upgraded Olin from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research report on Friday, January 19th. Vertical Research raised Olin from a “hold” rating to a “buy” rating in a report on Wednesday, January 3rd. SunTrust Banks reissued a “buy” rating and issued a $46.00 target price on shares of Olin in a report on Monday, November 6th. TheStreet raised Olin from a “c+” rating to a “b” rating in a report on Tuesday, October 31st. Finally, Morgan Stanley began coverage on Olin in a report on Tuesday, January 9th. They issued an “overweight” rating and a $45.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Olin currently has an average rating of “Buy” and a consensus target price of $39.80.
Shares of Olin Co. (OLN) opened at $33.22 on Thursday. The company has a quick ratio of 1.07, a current ratio of 1.78 and a debt-to-equity ratio of 1.31. Olin Co. has a 1-year low of $27.79 and a 1-year high of $38.84. The company has a market capitalization of $5,522.65, a price-to-earnings ratio of 38.88, a price-to-earnings-growth ratio of 1.13 and a beta of 1.36.
Olin (NYSE:OLN) last announced its quarterly earnings results on Tuesday, February 6th. The specialty chemicals company reported $2.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $2.45. The firm had revenue of $1.62 billion for the quarter, compared to the consensus estimate of $1.53 billion. Olin had a return on equity of 6.02% and a net margin of 8.77%. The company’s quarterly revenue was up 16.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.11 earnings per share. sell-side analysts anticipate that Olin Co. will post 2.12 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 9th. Stockholders of record on Friday, February 9th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date is Thursday, February 8th. Olin’s payout ratio is currently 24.69%.
In other Olin news, Director Randall W. Larrimore purchased 800 shares of the stock in a transaction dated Monday, February 12th. The shares were purchased at an average cost of $31.28 per share, with a total value of $25,024.00. Following the completion of the acquisition, the director now directly owns 6,500 shares in the company, valued at approximately $203,320. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Donald W. Bogus purchased 6,000 shares of the stock in a transaction dated Friday, February 16th. The shares were acquired at an average cost of $33.07 per share, for a total transaction of $198,420.00. Following the completion of the acquisition, the director now owns 83,118 shares of the company’s stock, valued at $2,748,712.26. The disclosure for this purchase can be found here. Corporate insiders own 2.90% of the company’s stock.
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Olin Corporation is a manufacturer and distributor of chemical products, and ammunition. The Company operates through three segments: Chlor Alkali Products and Vinyls, Epoxy and Winchester. The Chlor Alkali Products and Vinyls segment manufactures and sells chlorine and caustic soda, ethylene dichloride and vinyl chloride monomer, methyl chloride, methylene chloride, chloroform, carbon tetrachloride, perchloroethylene, trichloroethylene and vinylidene chloride, hydrochloric acid, hydrogen, bleach products and potassium hydroxide.
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