Pacer Advisors Inc. lifted its stake in Olin Co. (NYSE:OLN) by 4.1% in the third quarter, Holdings Channel.com reports. The firm owned 116,065 shares of the specialty chemicals company’s stock after acquiring an additional 4,525 shares during the quarter. Pacer Advisors Inc.’s holdings in Olin were worth $2,173,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of OLN. FMR LLC lifted its position in shares of Olin by 99.8% in the first quarter. FMR LLC now owns 24,733,170 shares of the specialty chemicals company’s stock worth $572,325,000 after purchasing an additional 12,354,303 shares in the last quarter. Nuveen Asset Management LLC raised its position in Olin by 1,275.5% during the second quarter. Nuveen Asset Management LLC now owns 8,440,543 shares of the specialty chemicals company’s stock valued at $184,932,000 after acquiring an additional 7,826,890 shares in the last quarter. Balyasny Asset Management LLC raised its position in Olin by 343.0% during the second quarter. Balyasny Asset Management LLC now owns 1,754,345 shares of the specialty chemicals company’s stock valued at $38,438,000 after acquiring an additional 1,358,351 shares in the last quarter. W.E. Donoghue & Co. LLC bought a new position in Olin during the second quarter valued at approximately $7,006,000. Finally, Mesirow Financial Investment Management Equity Management bought a new position in Olin during the second quarter valued at approximately $6,531,000. 91.15% of the stock is owned by institutional investors and hedge funds.
In related news, Director Vince J. Smith purchased 5,000 shares of the stock in a transaction on Monday, August 12th. The shares were bought at an average price of $17.00 per share, for a total transaction of $85,000.00. Following the completion of the acquisition, the director now directly owns 37,304 shares in the company, valued at approximately $634,168. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Scott Mcdougald Sutton purchased 15,000 shares of the stock in a transaction on Friday, August 23rd. The shares were bought at an average price of $15.66 per share, for a total transaction of $234,900.00. Following the acquisition, the director now owns 39,500 shares of the company’s stock, valued at $618,570. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 23,080 shares of company stock worth $372,710. Corporate insiders own 1.90% of the company’s stock.
Shares of OLN opened at $18.50 on Tuesday. Olin Co. has a twelve month low of $15.38 and a twelve month high of $27.32. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.98 and a current ratio of 1.64. The firm’s 50 day moving average price is $17.90 and its 200 day moving average price is $20.45. The firm has a market cap of $2.99 billion, a PE ratio of 10.57, a PEG ratio of 1.54 and a beta of 1.58.
Olin (NYSE:OLN) last announced its quarterly earnings results on Wednesday, July 31st. The specialty chemicals company reported ($0.01) EPS for the quarter, meeting the consensus estimate of ($0.01). Olin had a return on equity of 7.82% and a net margin of 4.06%. The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter last year, the company posted $0.35 earnings per share. The company’s revenue for the quarter was down 7.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Olin Co. will post 1.01 earnings per share for the current fiscal year.
Several brokerages recently weighed in on OLN. ValuEngine raised shares of Olin from a “hold” rating to a “buy” rating in a research report on Thursday, October 10th. Barclays cut their price objective on shares of Olin from $22.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 3rd. Citigroup lowered shares of Olin from a “buy” rating to a “neutral” rating and cut their price objective for the company from $24.00 to $19.00 in a research report on Wednesday, October 9th. Morgan Stanley lowered shares of Olin from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $33.00 to $23.00 in a research report on Friday, July 19th. Finally, Royal Bank of Canada cut their price objective on shares of Olin to $19.00 and set a “sector perform” rating on the stock in a research report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $26.00.
Olin Company Profile
Olin Corporation manufactures and distributes chemical products in the United States and internationally. 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, trichloroethylene and vinylidene chloride, hydrochloric acid, hydrogen, bleach products, potassium hydroxide, chlorinated organics intermediates and solvents, and sodium hypochlorite.The Epoxy segment provides allyl chloride and epichlorohydrin, as well as acetone, bisphenol, cumene, and phenol for use in resins and other plastic materials, water purification, and pesticides, as well as for the manufacturers of polymers; liquid and solid epoxy resins that are used in adhesives, paints and coatings, composites, and flooring; and differentiated epoxy resins for use in electrical laminates, paints and coatings, wind blades, electronics, and construction, as well as offers additives.
See Also: Why is cost of goods sold important?
Want to see what other hedge funds are holding OLN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Olin Co. (NYSE:OLN).
Receive News & Ratings for Olin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Olin and related companies with MarketBeat.com's FREE daily email newsletter.