Pflug Koory LLC reduced its position in shares of Olin Co. (NYSE:OLN) by 38.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,960 shares of the specialty chemicals company’s stock after selling 1,200 shares during the quarter. Pflug Koory LLC’s holdings in Olin were worth $37,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Coastal Investment Advisors Inc. increased its holdings in Olin by 334.1% during the 2nd quarter. Coastal Investment Advisors Inc. now owns 3,490 shares of the specialty chemicals company’s stock worth $76,000 after purchasing an additional 2,686 shares during the period. Prudential PLC increased its holdings in Olin by 10.0% during the 2nd quarter. Prudential PLC now owns 536,300 shares of the specialty chemicals company’s stock worth $11,750,000 after purchasing an additional 48,600 shares during the period. Advisory Services Network LLC increased its holdings in Olin by 59.1% during the 2nd quarter. Advisory Services Network LLC now owns 2,053 shares of the specialty chemicals company’s stock worth $45,000 after purchasing an additional 763 shares during the period. Advisor Group Inc. increased its holdings in Olin by 60.3% during the 2nd quarter. Advisor Group Inc. now owns 41,526 shares of the specialty chemicals company’s stock worth $908,000 after purchasing an additional 15,620 shares during the period. Finally, Nordea Investment Management AB increased its holdings in Olin by 0.9% during the 1st quarter. Nordea Investment Management AB now owns 192,131 shares of the specialty chemicals company’s stock worth $4,445,000 after purchasing an additional 1,733 shares during the period. Institutional investors own 91.15% of the company’s stock.
In other Olin news, Director Scott Mcdougald Sutton bought 15,000 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were purchased at an average cost of $15.66 per share, for a total transaction of $234,900.00. Following the purchase, the director now directly owns 39,500 shares in the company, valued at $618,570. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Vince J. Smith bought 5,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average price of $17.00 per share, for a total transaction of $85,000.00. Following the completion of the purchase, the director now owns 37,304 shares in the company, valued at $634,168. The disclosure for this purchase can be found here. Insiders bought a total of 23,080 shares of company stock worth $372,710 over the last quarter. Company insiders own 1.90% of the company’s stock.
Shares of NYSE:OLN traded down $0.22 on Tuesday, reaching $18.28. The company had a trading volume of 122,932 shares, compared to its average volume of 2,396,734. Olin Co. has a 52-week low of $15.38 and a 52-week high of $27.32. The firm’s 50 day simple moving average is $17.90 and its 200-day simple moving average is $20.45. The firm has a market capitalization of $2.98 billion, a PE ratio of 10.44, a PEG ratio of 1.60 and a beta of 1.58. The company has a current ratio of 1.64, a quick ratio of 0.98 and a debt-to-equity ratio of 1.17.
Olin (NYSE:OLN) last announced its quarterly earnings results on Wednesday, July 31st. The specialty chemicals company reported ($0.01) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.01). Olin had a return on equity of 7.82% and a net margin of 4.06%. The business had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.55 billion. During the same period last year, the business posted $0.35 EPS. The business’s revenue was down 7.8% compared to the same quarter last year. As a group, equities research analysts predict that Olin Co. will post 1.01 earnings per share for the current year.
Several research firms have commented on OLN. Bank of America restated a “buy” rating and set a $22.00 price objective (down from $29.00) on shares of Olin in a report on Friday, August 16th. Barclays reduced their price objective on Olin from $22.00 to $21.00 and set an “equal weight” rating on the stock in a report on Thursday, October 3rd. Citigroup downgraded Olin from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $24.00 to $19.00 in a report on Wednesday, October 9th. Morgan Stanley downgraded Olin from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $33.00 to $23.00 in a report on Friday, July 19th. Finally, ValuEngine upgraded Olin from a “hold” rating to a “buy” rating in a report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. Olin presently has an average rating of “Hold” and a consensus target price of $26.00.
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.
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