Olin Corporation $OLN Shares Sold by Oarsman Capital Inc.

Oarsman Capital Inc. decreased its holdings in shares of Olin Corporation (NYSE:OLN) by 4.6% in the 2nd quarter, Holdings Channel.com reports. The fund owned 54,177 shares of the specialty chemicals company’s stock after selling 2,625 shares during the quarter. Oarsman Capital Inc.’s holdings in Olin were worth $1,088,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in OLN. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Olin during the first quarter worth $31,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Olin during the first quarter worth $32,000. UMB Bank n.a. increased its stake in Olin by 134.9% during the second quarter. UMB Bank n.a. now owns 1,736 shares of the specialty chemicals company’s stock worth $35,000 after acquiring an additional 997 shares during the last quarter. Allworth Financial LP increased its stake in Olin by 188.5% during the first quarter. Allworth Financial LP now owns 1,676 shares of the specialty chemicals company’s stock worth $37,000 after acquiring an additional 1,095 shares during the last quarter. Finally, Quarry LP acquired a new stake in Olin during the first quarter worth $45,000. Institutional investors and hedge funds own 88.67% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Bank of America raised their target price on Olin from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, October 14th. Wells Fargo & Company raised their price target on Olin from $21.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 7th. Fermium Researc upgraded Olin to a “strong-buy” rating in a research report on Thursday, September 25th. Wall Street Zen upgraded Olin from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Finally, KeyCorp lowered their price target on Olin from $32.00 to $31.00 and set an “overweight” rating for the company in a research report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $25.50.

Olin Trading Down 12.3%

NYSE:OLN opened at $21.06 on Wednesday. The firm has a market cap of $2.41 billion, a PE ratio of 45.77 and a beta of 1.68. The stock has a fifty day moving average price of $24.08 and a 200 day moving average price of $21.87. Olin Corporation has a 12-month low of $17.66 and a 12-month high of $44.76. The company has a current ratio of 1.48, a quick ratio of 0.88 and a debt-to-equity ratio of 1.50.

Olin (NYSE:OLN) last released its earnings results on Monday, October 27th. The specialty chemicals company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.31. The firm had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.74 billion. Olin had a return on equity of 3.35% and a net margin of 0.79%.Olin’s revenue was up 7.8% compared to the same quarter last year. During the same period last year, the business posted ($0.21) earnings per share. Sell-side analysts anticipate that Olin Corporation will post 1.38 earnings per share for the current fiscal year.

Olin Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Thursday, August 28th were issued a $0.20 dividend. The ex-dividend date was Thursday, August 28th. This represents a $0.80 dividend on an annualized basis and a yield of 3.8%. Olin’s dividend payout ratio (DPR) is 173.91%.

Insider Transactions at Olin

In related news, VP Teresa M. Vermillion sold 6,000 shares of Olin stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $21.11, for a total value of $126,660.00. Following the completion of the transaction, the vice president directly owned 17,199 shares in the company, valued at approximately $363,070.89. This trade represents a 25.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.70% of the company’s stock.

About Olin

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.