Wells Fargo & Company MN Has $17.37 Million Stake in Olin Co. (OLN)

Wells Fargo & Company MN raised its position in Olin Co. (NYSE:OLN) by 1.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 507,046 shares of the specialty chemicals company’s stock after acquiring an additional 9,272 shares during the quarter. Wells Fargo & Company MN owned approximately 0.30% of Olin worth $17,366,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Jennison Associates LLC lifted its stake in shares of Olin by 7,869.7% in the third quarter. Jennison Associates LLC now owns 1,992,417 shares of the specialty chemicals company’s stock worth $68,240,000 after buying an additional 1,967,417 shares in the last quarter. Iridian Asset Management LLC CT lifted its stake in shares of Olin by 28.0% in the second quarter. Iridian Asset Management LLC CT now owns 7,098,169 shares of the specialty chemicals company’s stock worth $214,933,000 after buying an additional 1,553,430 shares in the last quarter. King Street Capital Management L.P. lifted its stake in shares of Olin by 50.0% in the second quarter. King Street Capital Management L.P. now owns 3,000,000 shares of the specialty chemicals company’s stock worth $90,840,000 after buying an additional 1,000,000 shares in the last quarter. BlueCrest Capital Management Ltd lifted its stake in shares of Olin by 481.0% in the second quarter. BlueCrest Capital Management Ltd now owns 680,828 shares of the specialty chemicals company’s stock worth $20,615,000 after buying an additional 563,647 shares in the last quarter. Finally, TVR Capital Management LP lifted its stake in shares of Olin by 714.0% in the second quarter. TVR Capital Management LP now owns 442,597 shares of the specialty chemicals company’s stock worth $13,401,000 after buying an additional 388,225 shares in the last quarter. Institutional investors own 89.68% of the company’s stock.

Olin Co. (NYSE OLN) traded up $0.64 during trading on Thursday, hitting $37.95. 1,783,892 shares of the stock traded hands, compared to its average volume of 1,932,964. The company has a market cap of $6,310.00, a price-to-earnings ratio of 82.50, a PEG ratio of 1.20 and a beta of 1.39. The company has a quick ratio of 1.03, a current ratio of 1.72 and a debt-to-equity ratio of 1.59. Olin Co. has a 12-month low of $25.60 and a 12-month high of $38.84.

Olin (NYSE:OLN) last released its earnings results on Monday, October 30th. The specialty chemicals company reported $0.31 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.04). The firm had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.58 billion. Olin had a return on equity of 6.05% and a net margin of 1.29%. Olin’s revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.11 EPS. equities analysts forecast that Olin Co. will post 0.93 EPS for the current year.

A number of brokerages recently weighed in on OLN. Morgan Stanley began coverage on shares of Olin in a research note on Tuesday. They issued an “overweight” rating and a $45.00 price objective for the company. Vertical Research raised shares of Olin from a “hold” rating to a “buy” rating in a research note on Wednesday, January 3rd. TheStreet raised shares of Olin from a “c+” rating to a “b” rating in a research note on Tuesday, October 31st. Zacks Investment Research cut shares of Olin from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 4th. Finally, Cowen reaffirmed an “outperform” rating and set a $42.00 target price (up from $39.00) on shares of Olin in a research note on Tuesday, October 10th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $38.78.

In related news, SVP John Maurice Sampson sold 3,000 shares of Olin stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $36.58, for a total transaction of $109,740.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Dolores J. Ennico sold 15,000 shares of Olin stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $36.80, for a total transaction of $552,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 75,083 shares of company stock valued at $2,741,284 in the last quarter. 2.90% of the stock is currently owned by company insiders.

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About Olin

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.

Institutional Ownership by Quarter for Olin (NYSE:OLN)

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