SIR Capital Management L.P. raised its position in shares of Olin Co. (NYSE:OLN) by 25.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 118,100 shares of the specialty chemicals company’s stock after purchasing an additional 24,177 shares during the quarter. SIR Capital Management L.P. owned 0.07% of Olin worth $4,202,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. First Trust Advisors LP raised its position in shares of Olin by 101.3% during the third quarter. First Trust Advisors LP now owns 211,564 shares of the specialty chemicals company’s stock valued at $7,246,000 after buying an additional 106,444 shares during the last quarter. Crossmark Global Holdings Inc. bought a new stake in Olin in the third quarter worth $457,000. Canada Pension Plan Investment Board increased its position in Olin by 17.3% during the third quarter. Canada Pension Plan Investment Board now owns 562,217 shares of the specialty chemicals company’s stock valued at $19,256,000 after acquiring an additional 82,900 shares during the last quarter. Boston Partners increased its position in Olin by 2.2% during the third quarter. Boston Partners now owns 646,387 shares of the specialty chemicals company’s stock valued at $22,139,000 after acquiring an additional 14,197 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in Olin by 8.4% during the third quarter. Principal Financial Group Inc. now owns 1,060,870 shares of the specialty chemicals company’s stock valued at $36,335,000 after acquiring an additional 82,355 shares during the last quarter. Institutional investors and hedge funds own 89.09% of the company’s stock.
Olin Co. (OLN) traded down $1.24 during mid-day trading on Wednesday, reaching $31.54. The company had a trading volume of 4,422,237 shares, compared to its average volume of 2,220,723. The stock has a market capitalization of $5,539.87, a PE ratio of 9.73, a price-to-earnings-growth ratio of 1.18 and a beta of 1.43. Olin Co. has a 12-month low of $27.79 and a 12-month high of $38.84. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.07 and a current ratio of 1.78.
Olin (NYSE:OLN) last released its earnings results on Tuesday, February 6th. The specialty chemicals company reported $2.89 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.44 by $2.45. The business had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.53 billion. Olin had a return on equity of 6.02% and a net margin of 8.77%. The company’s revenue for the quarter was up 16.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.11 earnings per share. research analysts predict that Olin Co. will post 2.03 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 9th. Stockholders of record on Friday, February 9th were given a $0.20 dividend. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $0.80 annualized dividend and a dividend yield of 2.54%. Olin’s dividend payout ratio is currently 24.69%.
In related news, Director Donald W. Bogus bought 6,000 shares of the stock in a transaction dated Friday, February 16th. The stock was acquired at an average price of $33.07 per share, for a total transaction of $198,420.00. Following the completion of the purchase, the director now owns 83,118 shares in the company, valued at $2,748,712.26. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Randall W. Larrimore purchased 800 shares of Olin stock in a transaction that occurred on Monday, February 12th. The stock was acquired at an average cost of $31.28 per share, with a total value of $25,024.00. Following the acquisition, the director now directly owns 6,500 shares of the company’s stock, valued at approximately $203,320. The disclosure for this purchase can be found here. 1.70% of the stock is owned by corporate insiders.
OLN has been the subject of a number of recent analyst reports. ValuEngine raised shares of Olin from a “sell” rating to a “hold” rating in a research note on Tuesday. SunTrust Banks reaffirmed a “buy” rating on shares of Olin in a research note on Tuesday, February 13th. Morgan Stanley set a $41.00 price objective on shares of Olin and gave the company a “buy” rating in a report on Monday, February 12th. Nomura cut their price target on shares of Olin from $43.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday, February 8th. Finally, Zacks Investment Research lowered Olin from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $39.45.
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Olin Company Profile
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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