Parametric Portfolio Associates LLC Purchases 19,234 Shares of Olin Co. (NYSE:OLN)

Parametric Portfolio Associates LLC raised its position in shares of Olin Co. (NYSE:OLN) by 5.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 359,910 shares of the specialty chemicals company’s stock after purchasing an additional 19,234 shares during the quarter. Parametric Portfolio Associates LLC owned 0.22% of Olin worth $16,649,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. NEXT Financial Group Inc bought a new stake in shares of Olin during the 2nd quarter valued at about $33,000. Strategic Blueprint LLC bought a new stake in shares of Olin during the 2nd quarter valued at about $33,000. Eaton Vance Management bought a new stake in shares of Olin during the 1st quarter valued at about $35,000. Ancora Advisors LLC grew its stake in shares of Olin by 177.8% during the 2nd quarter. Ancora Advisors LLC now owns 1,250 shares of the specialty chemicals company’s stock valued at $58,000 after purchasing an additional 800 shares during the period. Finally, SRS Capital Advisors Inc. bought a new stake in shares of Olin during the 2nd quarter valued at about $62,000. Institutional investors and hedge funds own 81.40% of the company’s stock.

OLN stock opened at $60.04 on Thursday. Olin Co. has a 1-year low of $21.30 and a 1-year high of $64.76. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.45 and a quick ratio of 0.93. The company has a market capitalization of $9.57 billion, a price-to-earnings ratio of 10.26, a PEG ratio of 0.13 and a beta of 1.41. The business has a 50 day simple moving average of $54.49 and a two-hundred day simple moving average of $49.43.

Olin (NYSE:OLN) last posted its quarterly earnings results on Wednesday, October 20th. The specialty chemicals company reported $2.40 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.08 by $0.32. The business had revenue of $2.34 billion during the quarter, compared to the consensus estimate of $2.38 billion. Olin had a return on equity of 47.48% and a net margin of 11.77%. During the same period in the prior year, the company posted ($0.20) EPS. Sell-side analysts anticipate that Olin Co. will post 8.5 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 10th. Stockholders of record on Wednesday, November 10th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, November 9th. This represents a $0.80 annualized dividend and a dividend yield of 1.33%. Olin’s dividend payout ratio (DPR) is 13.68%.

In related news, COO James A. Varilek sold 34,728 shares of the stock in a transaction on Wednesday, September 1st. The stock was sold at an average price of $51.22, for a total transaction of $1,778,768.16. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director W Anthony Will purchased 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 3rd. The shares were bought at an average price of $61.35 per share, for a total transaction of $613,500.00. The disclosure for this purchase can be found here. Insiders have sold a total of 3,191,167 shares of company stock worth $159,676,391 over the last ninety days. Insiders own 11.90% of the company’s stock.

A number of research analysts recently issued reports on OLN shares. Citigroup reiterated a “buy” rating and set a $66.00 price objective (up from $64.00) on shares of Olin in a research note on Monday, October 25th. Piper Sandler boosted their price objective on Olin from $70.00 to $80.00 and gave the company an “overweight” rating in a research note on Thursday, October 28th. Alembic Global Advisors reiterated a “buy” rating and set a $84.00 price objective on shares of Olin in a research note on Monday, November 1st. Zacks Investment Research downgraded Olin from a “buy” rating to a “hold” rating and set a $52.00 price objective for the company. in a research note on Wednesday, September 29th. Finally, Bank of America boosted their price objective on Olin from $65.00 to $67.00 and gave the company a “buy” rating in a research note on Monday, October 18th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $65.27.

Olin Company Profile

Olin Corp. engages in manufacturing of chemicals products. It operates through the following 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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Institutional Ownership by Quarter for Olin (NYSE:OLN)

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