UBS Group AG Boosts Stake in Olin Co. (NYSE:OLN)

UBS Group AG raised its position in Olin Co. (NYSE:OLN) by 5.0% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 1,749,164 shares of the specialty chemicals company’s stock after purchasing an additional 83,363 shares during the period. UBS Group AG’s holdings in Olin were worth $66,416,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of Olin by 4.5% during the 1st quarter. BlackRock Inc. now owns 15,063,498 shares of the specialty chemicals company’s stock worth $571,962,000 after purchasing an additional 651,765 shares during the last quarter. Pzena Investment Management LLC increased its stake in shares of Olin by 7.2% during the 1st quarter. Pzena Investment Management LLC now owns 4,686,791 shares of the specialty chemicals company’s stock worth $177,957,000 after purchasing an additional 312,815 shares during the last quarter. Norges Bank purchased a new stake in shares of Olin during the 4th quarter worth approximately $41,772,000. Northern Trust Corp increased its stake in shares of Olin by 19.1% during the 4th quarter. Northern Trust Corp now owns 1,503,089 shares of the specialty chemicals company’s stock worth $36,916,000 after purchasing an additional 240,967 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in shares of Olin by 35.2% during the 1st quarter. Victory Capital Management Inc. now owns 1,321,274 shares of the specialty chemicals company’s stock worth $50,169,000 after purchasing an additional 343,716 shares during the last quarter. Institutional investors own 84.33% of the company’s stock.

In related news, EVP Pat D. Dawson sold 100,000 shares of Olin stock in a transaction on Tuesday, May 4th. The shares were sold at an average price of $44.86, for a total value of $4,486,000.00. Following the transaction, the executive vice president now owns 102,734 shares in the company, valued at approximately $4,608,647.24. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Teresa M. Vermillion sold 8,000 shares of Olin stock in a transaction on Tuesday, May 25th. The stock was sold at an average price of $48.64, for a total transaction of $389,120.00. Following the completion of the transaction, the vice president now owns 15,431 shares in the company, valued at approximately $750,563.84. The disclosure for this sale can be found here. In the last quarter, insiders sold 321,100 shares of company stock worth $14,876,654. 11.90% of the stock is owned by corporate insiders.

Several research firms recently commented on OLN. Royal Bank of Canada raised their price objective on shares of Olin from $56.00 to $63.00 and gave the stock an “outperform” rating in a report on Thursday, April 29th. Morgan Stanley raised their price objective on shares of Olin from $40.00 to $46.00 and gave the stock an “equal weight” rating in a report on Monday, May 3rd. Tudor Pickering raised shares of Olin from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a report on Thursday, March 18th. Vertical Research raised shares of Olin from a “hold” rating to a “buy” rating and set a $53.00 price objective for the company in a report on Monday, May 24th. Finally, Barclays raised their price objective on shares of Olin from $30.00 to $43.00 and gave the stock an “equal weight” rating in a report on Thursday, March 18th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $44.43.

NYSE OLN opened at $48.25 on Friday. Olin Co. has a 52-week low of $9.67 and a 52-week high of $51.04. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.65 and a quick ratio of 1.09. The company has a market cap of $7.69 billion, a P/E ratio of -11.68 and a beta of 1.32. The stock’s fifty day moving average is $44.59.

Olin (NYSE:OLN) last posted its quarterly earnings data on Monday, April 26th. The specialty chemicals company reported $1.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.20. The company had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.89 billion. Olin had a negative net margin of 10.34% and a positive return on equity of 5.74%. As a group, sell-side analysts predict that Olin Co. will post 5.04 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 10th. Investors of record on Monday, May 10th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date of this dividend was Friday, May 7th. Olin’s payout ratio is presently -59.26%.

About Olin

Olin Corporation manufactures and distributes chemical products in the United States, Europe, 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, hydrochloric acid, hydrogen, bleach products, potassium hydroxide, chlorinated organics intermediates and solvents, and sodium hypochlorite.

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Institutional Ownership by Quarter for Olin (NYSE:OLN)

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