Olin Co. (NYSE:OLN) Shares Sold by Bokf Na

Bokf Na cut its stake in Olin Co. (NYSE:OLN) by 1.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 44,484 shares of the specialty chemicals company’s stock after selling 465 shares during the period. Bokf Na’s holdings in Olin were worth $2,654,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Hotchkis & Wiley Capital Management LLC increased its stake in shares of Olin by 3.2% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 6,602,331 shares of the specialty chemicals company’s stock worth $356,196,000 after purchasing an additional 203,260 shares in the last quarter. Boston Partners lifted its holdings in shares of Olin by 122.8% during the 4th quarter. Boston Partners now owns 5,029,377 shares of the specialty chemicals company’s stock valued at $271,152,000 after acquiring an additional 2,772,274 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Olin by 3.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,635,983 shares of the specialty chemicals company’s stock valued at $196,167,000 after acquiring an additional 126,587 shares in the last quarter. Balyasny Asset Management L.P. lifted its holdings in shares of Olin by 218.6% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,649,273 shares of the specialty chemicals company’s stock valued at $88,978,000 after acquiring an additional 1,131,674 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Olin during the 4th quarter valued at $76,125,000. 88.67% of the stock is owned by hedge funds and other institutional investors.

Olin Stock Up 1.6 %

OLN stock traded up $0.70 during midday trading on Monday, reaching $45.29. The company had a trading volume of 576,595 shares, compared to its average volume of 1,071,389. Olin Co. has a 1 year low of $41.71 and a 1 year high of $60.60. The company has a current ratio of 1.43, a quick ratio of 0.82 and a debt-to-equity ratio of 1.29. The company has a market capitalization of $5.41 billion, a P/E ratio of 16.25, a PEG ratio of 0.32 and a beta of 1.44. The company has a 50 day moving average of $49.67 and a two-hundred day moving average of $52.72.

Olin (NYSE:OLN) last released its earnings results on Thursday, July 25th. The specialty chemicals company reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.08). Olin had a return on equity of 11.73% and a net margin of 4.26%. The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the previous year, the company earned $1.13 EPS. The firm’s quarterly revenue was down 3.5% compared to the same quarter last year. On average, equities research analysts expect that Olin Co. will post 3.1 earnings per share for the current fiscal year.

Olin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Thursday, August 8th will be given a $0.20 dividend. The ex-dividend date of this dividend is Thursday, August 8th. This represents a $0.80 dividend on an annualized basis and a yield of 1.77%. Olin’s payout ratio is 28.78%.

Analyst Ratings Changes

OLN has been the topic of several analyst reports. JPMorgan Chase & Co. raised shares of Olin from a “neutral” rating to an “overweight” rating and set a $55.00 price target on the stock in a research note on Monday. KeyCorp lowered their price objective on shares of Olin from $69.00 to $62.00 and set an “overweight” rating for the company in a research report on Monday. Piper Sandler boosted their price objective on shares of Olin from $72.00 to $75.00 and gave the company an “overweight” rating in a research report on Monday, April 29th. Royal Bank of Canada reduced their target price on shares of Olin from $69.00 to $63.00 and set an “outperform” rating for the company in a research note on Monday, April 29th. Finally, Wells Fargo & Company reduced their target price on shares of Olin from $50.00 to $48.00 and set an “equal weight” rating for the company in a research note on Monday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $59.29.

Olin Company Profile

Olin Corporation manufactures and distributes chemical products in the United States, Europe, Asia Pacific, Latin America, and Canada. 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, hydrochloric acid, hydrogen, bleach products, potassium hydroxide, and chlorinated organics intermediates and solvents.