Geode Capital Management LLC boosted its holdings in Olin Co. (NYSE:OLN) by 2.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,399,343 shares of the specialty chemicals company’s stock after acquiring an additional 31,807 shares during the quarter. Geode Capital Management LLC owned 0.84% of Olin worth $49,788,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in OLN. Crossmark Global Holdings Inc. bought a new position in Olin in the 3rd quarter valued at about $457,000. Principal Financial Group Inc. lifted its position in Olin by 8.4% in the 3rd quarter. Principal Financial Group Inc. now owns 1,060,870 shares of the specialty chemicals company’s stock valued at $36,335,000 after acquiring an additional 82,355 shares in the last quarter. BNP Paribas Arbitrage SA lifted its position in Olin by 27.2% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 80,151 shares of the specialty chemicals company’s stock valued at $2,745,000 after acquiring an additional 17,122 shares in the last quarter. Sei Investments Co. lifted its position in Olin by 7.0% in the 3rd quarter. Sei Investments Co. now owns 265,312 shares of the specialty chemicals company’s stock valued at $9,087,000 after acquiring an additional 17,354 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its position in Olin by 3.4% in the 3rd quarter. New York State Common Retirement Fund now owns 643,187 shares of the specialty chemicals company’s stock valued at $22,029,000 after acquiring an additional 21,180 shares in the last quarter. 89.08% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have commented on OLN shares. SunTrust Banks reiterated a “buy” rating on shares of Olin in a research note on Tuesday, February 13th. Morgan Stanley set a $41.00 price objective on shares of Olin and gave the company a “buy” rating in a research note on Monday, February 12th. Citigroup set a $40.00 price objective on shares of Olin and gave the company a “buy” rating in a research note on Monday, February 12th. Vertical Research upgraded shares of Olin from a “hold” rating to a “buy” rating in a research note on Wednesday, January 3rd. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $42.00 price objective on shares of Olin in a research note on Thursday, December 14th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $39.45.
In other Olin news, Director Donald W. Bogus acquired 6,000 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was bought at an average cost of $33.07 per share, with a total value of $198,420.00. Following the acquisition, the director now owns 83,118 shares in the company, valued at $2,748,712.26. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John L. Mcintosh sold 8,750 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $32.79, for a total transaction of $286,912.50. Following the completion of the transaction, the executive vice president now directly owns 63,891 shares of the company’s stock, valued at $2,094,985.89. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.
Shares of OLN stock traded down $0.79 during trading hours on Friday, hitting $29.50. 2,046,227 shares of the company were exchanged, compared to its average volume of 2,303,542. The company has a quick ratio of 1.07, a current ratio of 1.78 and a debt-to-equity ratio of 1.31. Olin Co. has a 52-week low of $27.79 and a 52-week high of $38.84. The firm has a market cap of $4,931.40, a P/E ratio of 36.42, a PEG ratio of 1.06 and a beta of 1.43.
Olin (NYSE:OLN) last issued its quarterly earnings results on Tuesday, February 6th. The specialty chemicals company reported $2.89 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $2.45. Olin had a net margin of 8.77% and a return on equity of 6.02%. The company had revenue of $1.62 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same quarter last year, the business posted $0.11 EPS. Olin’s quarterly revenue was up 16.9% compared to the same quarter last year. equities analysts expect that Olin Co. will post 2.02 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, March 9th. Stockholders of record on Friday, February 9th were paid a dividend of $0.20 per share. The ex-dividend date was Thursday, February 8th. This represents a $0.80 annualized dividend and a dividend yield of 2.71%. Olin’s payout ratio is currently 98.77%.
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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, and potassium hydroxide.
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