Point72 Asset Management L.P. Sells 2,797,652 Shares of Olin Co. (OLN)

Point72 Asset Management L.P. decreased its stake in shares of Olin Co. (NYSE:OLN) by 98.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 35,000 shares of the specialty chemicals company’s stock after selling 2,797,652 shares during the quarter. Point72 Asset Management L.P.’s holdings in Olin were worth $1,199,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Jennison Associates LLC purchased a new stake in Olin during the 2nd quarter worth about $757,000. State Board of Administration of Florida Retirement System increased its holdings in Olin by 133.5% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 190,557 shares of the specialty chemicals company’s stock worth $5,770,000 after purchasing an additional 108,934 shares during the period. Symphony Asset Management LLC increased its holdings in Olin by 150.8% during the 2nd quarter. Symphony Asset Management LLC now owns 36,261 shares of the specialty chemicals company’s stock worth $1,098,000 after purchasing an additional 21,802 shares during the period. Prudential Financial Inc. increased its holdings in shares of Olin by 27.1% in the 2nd quarter. Prudential Financial Inc. now owns 1,304,705 shares of the specialty chemicals company’s stock valued at $39,506,000 after acquiring an additional 277,783 shares during the last quarter. Finally, TVR Capital Management LP increased its holdings in shares of Olin by 714.0% in the 2nd quarter. TVR Capital Management LP now owns 442,597 shares of the specialty chemicals company’s stock valued at $13,401,000 after acquiring an additional 388,225 shares during the last quarter. Institutional investors own 89.68% of the company’s stock.

In related news, EVP John L. Mcintosh sold 9,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $35.42, for a total transaction of $336,490.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP John Maurice Sampson sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $36.58, for a total value of $109,740.00. The disclosure for this sale can be found here. Insiders have sold a total of 75,083 shares of company stock worth $2,741,284 in the last 90 days. 2.90% of the stock is currently owned by company insiders.

Olin Co. (NYSE:OLN) traded up $0.12 during trading hours on Friday, reaching $38.07. The company had a trading volume of 1,445,427 shares, compared to its average volume of 1,423,946. The stock has a market cap of $6,316.66, a P/E ratio of 84.60, a PEG ratio of 1.13 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 quarterly earnings results on Monday, October 30th. The specialty chemicals company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.04). The firm had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.58 billion. Olin had a return on equity of 6.05% and a net margin of 1.29%. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.11 EPS. equities research analysts predict that Olin Co. will post 0.93 EPS for the current fiscal year.

OLN has been the topic of a number of recent analyst reports. Citigroup initiated coverage on Olin in a report on Wednesday, September 27th. They issued a “buy” rating and a $39.00 price objective on the stock. SunTrust Banks reiterated a “buy” rating and issued a $44.00 price objective (up previously from $36.00) on shares of Olin in a report on Monday, October 2nd. Zacks Investment Research downgraded Olin from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 4th. Cowen reiterated an “outperform” rating and issued a $42.00 price objective (up previously from $39.00) on shares of Olin in a report on Tuesday, October 10th. Finally, TheStreet upgraded Olin from a “c+” rating to a “b” rating in a report on Tuesday, October 31st. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $39.10.

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Olin 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.

Institutional Ownership by Quarter for Olin (NYSE:OLN)

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