Boston Partners lifted its holdings in shares of Olin Corporation (NYSE:OLN) by 2.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 646,387 shares of the specialty chemicals company’s stock after purchasing an additional 14,197 shares during the period. Boston Partners owned about 0.39% of Olin Corporation worth $22,139,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Jennison Associates LLC bought a new stake in Olin Corporation in the 2nd quarter valued at about $757,000. State Board of Administration of Florida Retirement System raised its stake in Olin Corporation by 133.5% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 190,557 shares of the specialty chemicals company’s stock valued at $5,770,000 after acquiring an additional 108,934 shares during the period. Symphony Asset Management LLC raised its stake in Olin Corporation by 150.8% in the 2nd quarter. Symphony Asset Management LLC now owns 36,261 shares of the specialty chemicals company’s stock valued at $1,098,000 after acquiring an additional 21,802 shares during the period. Prudential Financial Inc. raised its stake in Olin Corporation 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 period. Finally, TVR Capital Management LP raised its stake in Olin Corporation 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 period. Institutional investors own 93.79% of the company’s stock.
OLN has been the topic of a number of research reports. Zacks Investment Research upgraded Olin Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, October 17th. Cowen and Company restated an “outperform” rating and issued a $42.00 price objective (up from $39.00) on shares of Olin Corporation in a research note on Tuesday, October 10th. BidaskClub cut Olin Corporation from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. SunTrust Banks, Inc. restated a “buy” rating and issued a $44.00 price objective (up from $36.00) on shares of Olin Corporation in a research note on Monday, October 2nd. Finally, TheStreet upgraded Olin Corporation from a “c+” rating to a “b” rating in a research note on Tuesday, October 31st. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $37.13.
In other news, Director C Robert Bunch sold 10,000 shares of the company’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $36.00, for a total transaction of $360,000.00. Following the sale, the director now directly owns 3,860 shares in the company, valued at $138,960. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Dolores J. Ennico sold 15,000 shares of the business’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $36.80, for a total value of $552,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 62,583 shares of company stock worth $2,295,054. Company insiders own 2.90% of the company’s stock.
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Shares of Olin Corporation (NYSE:OLN) opened at $36.54 on Tuesday. Olin Corporation has a 52-week low of $24.17 and a 52-week high of $37.52. The firm has a market capitalization of $6,081.97, a PE ratio of 45.11, a PEG ratio of 4.19 and a beta of 1.41. The company has a current ratio of 1.72, a quick ratio of 1.03 and a debt-to-equity ratio of 1.59.
Olin Corporation (NYSE:OLN) last announced its quarterly earnings results on Monday, October 30th. The specialty chemicals company reported $0.31 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.04). Olin Corporation had a net margin of 1.29% and a return on equity of 6.05%. The company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter in the prior year, the company earned $0.11 earnings per share. The company’s quarterly revenue was up 7.0% on a year-over-year basis. sell-side analysts predict that Olin Corporation will post 0.9 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Friday, November 10th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.19%. The ex-dividend date is Thursday, November 9th. Olin Corporation’s dividend payout ratio is presently 177.78%.
About Olin Corporation
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.
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