Heartland Advisors Inc. lowered its position in shares of Olin Co. (NYSE:OLN) by 45.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,507 shares of the specialty chemicals company’s stock after selling 7,022 shares during the period. Heartland Advisors Inc.’s holdings in Olin were worth $280,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the stock. Messner & Smith Theme Value Investment Management Ltd. CA purchased a new position in shares of Olin during the third quarter worth approximately $1,079,000. California State Teachers Retirement System boosted its position in shares of Olin by 0.9% in the third quarter. California State Teachers Retirement System now owns 351,061 shares of the specialty chemicals company’s stock worth $7,204,000 after buying an additional 3,100 shares during the period. DekaBank Deutsche Girozentrale purchased a new position in shares of Olin during the third quarter worth approximately $226,000. BlackRock Group LTD boosted its position in shares of Olin by 4.5% in the third quarter. BlackRock Group LTD now owns 671,148 shares of the specialty chemicals company’s stock worth $13,772,000 after buying an additional 29,138 shares during the period. Finally, Rhumbline Advisers boosted its position in shares of Olin by 1.4% in the third quarter. Rhumbline Advisers now owns 300,602 shares of the specialty chemicals company’s stock worth $6,168,000 after buying an additional 4,130 shares during the period.
Shares of Olin Co. (NYSE:OLN) traded up 1.16% during trading on Friday, hitting $29.72. The stock had a trading volume of 2,706,696 shares. Olin Co. has a 12-month low of $18.24 and a 12-month high of $33.88. The firm’s market cap is $4.92 billion. The stock has a 50-day moving average of $31.95 and a 200 day moving average of $28.17.
Olin (NYSE:OLN) last issued its quarterly earnings results on Tuesday, May 2nd. The specialty chemicals company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by $0.10. The business earned $1.57 billion during the quarter, compared to analysts’ expectations of $1.44 billion. Olin had a negative net margin of 0.07% and a positive return on equity of 7.56%. On average, analysts predict that Olin Co. will post $1.40 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 9th. Investors of record on Wednesday, May 10th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date of this dividend is Monday, May 8th. Olin’s dividend payout ratio is currently -2,665.78%.
A number of equities analysts recently commented on the company. Zacks Investment Research cut Olin from a “buy” rating to a “sell” rating in a report on Tuesday, March 14th. Monness Crespi & Hardt cut Olin from a “buy” rating to a “neutral” rating and set a $28.00 target price for the company. in a report on Thursday, February 2nd. They noted that the move was a valuation call. Longbow Research upgraded Olin from an “underperform” rating to a “neutral” rating in a report on Thursday, February 2nd. Finally, Cowen and Company raised their target price on Olin from $32.00 to $37.00 and gave the company an “outperform” rating in a report on Friday, February 10th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $28.40.
In related news, VP Stephen C. Curley sold 5,500 shares of the stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $32.06, for a total value of $176,330.00. Following the completion of the transaction, the vice president now owns 24,337 shares of the company’s stock, valued at $780,244.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director C Robert Bunch sold 10,000 shares of the stock in a transaction dated Friday, February 10th. The shares were sold at an average price of $29.65, for a total value of $296,500.00. Following the completion of the transaction, the director now directly owns 12,610 shares of the company’s stock, valued at approximately $373,886.50. The disclosure for this sale can be found here. Insiders sold 27,500 shares of company stock valued at $857,330 in the last three months. 2.80% of the stock is currently owned by company insiders.
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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