Pacer Advisors Inc. increased its position in Olin Corporation (NYSE:OLN) by 22.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,485 shares of the specialty chemicals company’s stock after buying an additional 3,175 shares during the period. Pacer Advisors Inc.’s holdings in Olin Corporation were worth $575,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in OLN. Advisors Capital Management LLC increased its stake in Olin Corporation by 279.1% in the third quarter. Advisors Capital Management LLC now owns 514,187 shares of the specialty chemicals company’s stock worth $10,551,000 after buying an additional 378,553 shares in the last quarter. Deprince Race & Zollo Inc. increased its stake in Olin Corporation by 3.3% in the third quarter. Deprince Race & Zollo Inc. now owns 1,908,882 shares of the specialty chemicals company’s stock worth $39,170,000 after buying an additional 61,453 shares in the last quarter. Messner & Smith Theme Value Investment Management Ltd. CA bought a new stake in Olin Corporation during the third quarter worth approximately $1,079,000. Adage Capital Partners GP L.L.C. increased its stake in Olin Corporation by 37.1% in the third quarter. Adage Capital Partners GP L.L.C. now owns 11,868,508 shares of the specialty chemicals company’s stock worth $243,542,000 after buying an additional 3,214,252 shares in the last quarter. Finally, UBS Group AG increased its stake in Olin Corporation by 17.5% in the third quarter. UBS Group AG now owns 320,164 shares of the specialty chemicals company’s stock worth $6,570,000 after buying an additional 47,590 shares in the last quarter. 94.21% of the stock is currently owned by hedge funds and other institutional investors.
Olin Corporation (NYSE:OLN) traded up 1.17% during midday trading on Friday, reaching $29.48. 2,131,464 shares of the company were exchanged. The stock has a market capitalization of $4.89 billion, a price-to-earnings ratio of 102.72 and a beta of 1.47. The firm’s 50-day moving average price is $30.36 and its 200 day moving average price is $29.64. Olin Corporation has a 52-week low of $18.24 and a 52-week high of $33.88.
Olin Corporation (NYSE:OLN) last released its quarterly earnings results on Tuesday, May 2nd. The specialty chemicals company reported $0.14 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by $0.10. The company had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.44 billion. Olin Corporation had a return on equity of 7.40% and a net margin of 0.82%. Equities analysts predict that Olin Corporation will post $1.32 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, June 9th. Investors of record on Wednesday, May 10th were given a $0.20 dividend. The ex-dividend date of this dividend was Monday, May 8th. This represents a $0.80 annualized dividend and a yield of 2.71%. Olin Corporation’s dividend payout ratio is currently 285.71%.
A number of analysts recently commented on OLN shares. Zacks Investment Research raised shares of Olin Corporation from a “hold” rating to a “buy” rating and set a $36.00 price objective on the stock in a report on Thursday, March 9th. Bank of America Corporation began coverage on shares of Olin Corporation in a research report on Monday, May 8th. They set a “buy” rating and a $40.00 target price for the company. Tudor Pickering began coverage on shares of Olin Corporation in a research report on Friday, May 12th. They set a “buy” rating and a $37.00 target price for the company. Royal Bank Of Canada restated a “buy” rating and set a $35.00 target price on shares of Olin Corporation in a research report on Tuesday, May 16th. Finally, BidaskClub upgraded shares of Olin Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $32.86.
Olin Corporation Company 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.
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