Yacktman Asset Management LP Sells 51,836 Shares of Olin Corporation $OLN

Yacktman Asset Management LP reduced its holdings in Olin Corporation (NYSE:OLNFree Report) by 1.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 3,922,318 shares of the specialty chemicals company’s stock after selling 51,836 shares during the quarter. Yacktman Asset Management LP’s holdings in Olin were worth $81,702,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Hotchkis & Wiley Capital Management LLC boosted its position in shares of Olin by 5.5% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 12,690,488 shares of the specialty chemicals company’s stock valued at $317,135,000 after purchasing an additional 661,730 shares in the last quarter. State Street Corp boosted its position in shares of Olin by 1.1% during the second quarter. State Street Corp now owns 4,830,406 shares of the specialty chemicals company’s stock valued at $97,043,000 after purchasing an additional 50,309 shares in the last quarter. Millennium Management LLC boosted its position in shares of Olin by 1,063.0% during the third quarter. Millennium Management LLC now owns 2,486,702 shares of the specialty chemicals company’s stock valued at $62,143,000 after purchasing an additional 2,272,877 shares in the last quarter. Semper Augustus Investments Group LLC boosted its position in shares of Olin by 141.3% during the third quarter. Semper Augustus Investments Group LLC now owns 1,924,245 shares of the specialty chemicals company’s stock valued at $48,087,000 after purchasing an additional 1,126,809 shares in the last quarter. Finally, AQR Capital Management LLC boosted its position in shares of Olin by 80.5% during the third quarter. AQR Capital Management LLC now owns 1,811,533 shares of the specialty chemicals company’s stock valued at $44,564,000 after purchasing an additional 807,846 shares in the last quarter. 88.67% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Olin

In other news, VP Angela M. Castle sold 2,379 shares of the business’s stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $24.25, for a total value of $57,690.75. Following the completion of the transaction, the vice president owned 1,528 shares in the company, valued at $37,054. The trade was a 60.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.60% of the stock is owned by corporate insiders.

Olin News Roundup

Here are the key news stories impacting Olin this week:

Olin Stock Up 0.3%

OLN stock opened at $26.84 on Friday. Olin Corporation has a 1-year low of $18.08 and a 1-year high of $30.46. The business has a fifty day moving average price of $26.79 and a 200-day moving average price of $23.68. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.21 and a quick ratio of 0.73. The stock has a market capitalization of $3.06 billion, a P/E ratio of -23.96 and a beta of 1.21.

Olin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Thursday, May 14th will be paid a $0.20 dividend. The ex-dividend date is Thursday, May 14th. This represents a $0.80 annualized dividend and a dividend yield of 3.0%. Olin’s payout ratio is currently -71.43%.

Analyst Ratings Changes

OLN has been the topic of several research reports. Zacks Research upgraded Olin from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. Wall Street Zen upgraded Olin from a “sell” rating to a “hold” rating in a research report on Saturday, April 11th. UBS Group lifted their price target on Olin from $21.00 to $29.00 and gave the company a “neutral” rating in a research report on Thursday, April 9th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $26.00 price target on shares of Olin in a research report on Tuesday, February 10th. Finally, Morgan Stanley dropped their price target on Olin from $20.00 to $18.00 and set an “underweight” rating on the stock in a research report on Monday, February 2nd. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $26.50.

Get Our Latest Stock Analysis on OLN

Olin Company Profile

(Free Report)

Olin Corporation is a diversified manufacturer specializing in chemical products and ammunition. The company’s core business activities encompass the production and distribution of chlor-alkali products, epoxy resins and derivatives, and small-caliber ammunition under the Winchester brand. Olin’s chemical operations supply chlorine, caustic soda and related co-products to a wide range of end markets, including water treatment, pulp and paper, pharmaceuticals and general industrial applications.

In its Chlor Alkali Products & Vinyls segment, Olin operates multiple manufacturing facilities that produce chlorine and sodium hydroxide, along with vinyl chloride monomer and polyvinyl chloride (PVC) compounds.

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Institutional Ownership by Quarter for Olin (NYSE:OLN)

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