Madison Asset Management LLC Invests $902,000 in Olin Corporation $OLN

Madison Asset Management LLC acquired a new stake in Olin Corporation (NYSE:OLN) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 45,501 shares of the specialty chemicals company’s stock, valued at approximately $902,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Rockefeller Capital Management L.P. increased its position in Olin by 115.2% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,231 shares of the specialty chemicals company’s stock worth $26,000 after acquiring an additional 659 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Olin in the 1st quarter valued at $32,000. Sunbelt Securities Inc. acquired a new stake in Olin in the 1st quarter worth $45,000. NewEdge Advisors LLC grew its position in Olin by 45.0% in the 3rd quarter. NewEdge Advisors LLC now owns 2,323 shares of the specialty chemicals company’s stock worth $58,000 after purchasing an additional 721 shares during the last quarter. Finally, UMB Bank n.a. increased its holdings in shares of Olin by 34.0% during the 4th quarter. UMB Bank n.a. now owns 2,597 shares of the specialty chemicals company’s stock worth $54,000 after purchasing an additional 659 shares during the period. Institutional investors and hedge funds own 88.67% of the company’s stock.

Olin Price Performance

NYSE:OLN opened at $18.41 on Friday. The company has a 50-day moving average of $20.76 and a 200-day moving average of $24.28. The company has a market capitalization of $2.10 billion, a price-to-earnings ratio of -14.97 and a beta of 1.22. Olin Corporation has a 52 week low of $17.73 and a 52 week high of $30.46. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.87 and a current ratio of 1.42.

Olin (NYSE:OLN) last posted its earnings results on Thursday, July 30th. The specialty chemicals company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.25). Olin had a negative net margin of 2.08% and a negative return on equity of 4.76%. The business had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.81 billion. During the same period in the previous year, the firm earned ($0.01) EPS. The business’s revenue was down .9% compared to the same quarter last year. As a group, equities research analysts anticipate that Olin Corporation will post -0.64 earnings per share for the current fiscal year.

Olin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Thursday, August 27th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend is Thursday, August 27th. Olin’s payout ratio is presently -65.04%.

Analyst Ratings Changes

A number of brokerages have recently commented on OLN. Truist Financial cut their price objective on shares of Olin from $24.00 to $20.00 and set a “hold” rating for the company in a research report on Monday, August 3rd. Weiss Ratings reissued a “sell (d)” rating on shares of Olin in a research report on Wednesday. Royal Bank Of Canada lowered their price target on Olin from $24.00 to $20.00 and set a “sector perform” rating on the stock in a research note on Monday, August 3rd. Morgan Stanley upped their price target on Olin from $18.00 to $22.00 and gave the company an “underweight” rating in a report on Monday, May 11th. Finally, UBS Group decreased their price objective on Olin from $23.00 to $21.00 and set a “neutral” rating on the stock in a report on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, ten have given a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, Olin has a consensus rating of “Reduce” and a consensus price target of $23.08.

Olin Company 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.