Olin Corporation $OLN Shares Newly Purchased by Lesa Sroufe & Co

Lesa Sroufe & Co acquired a new stake in shares of Olin Corporation (NYSE:OLN) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 84,852 shares of the specialty chemicals company’s stock, valued at approximately $1,315,000.

A number of other institutional investors have also recently made changes to their positions in OLN. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Olin in the second quarter valued at about $1,267,000. Amundi raised its stake in shares of Olin by 337.2% during the first quarter. Amundi now owns 684,036 shares of the specialty chemicals company’s stock valued at $20,336,000 after acquiring an additional 527,586 shares during the last quarter. Engineers Gate Manager LP boosted its holdings in shares of Olin by 1,601.5% during the second quarter. Engineers Gate Manager LP now owns 210,478 shares of the specialty chemicals company’s stock worth $4,172,000 after purchasing an additional 198,108 shares during the period. WINTON GROUP Ltd bought a new stake in shares of Olin in the second quarter worth about $1,747,000. Finally, Empowered Funds LLC grew its stake in shares of Olin by 1,946.0% in the first quarter. Empowered Funds LLC now owns 435,599 shares of the specialty chemicals company’s stock worth $12,950,000 after purchasing an additional 414,309 shares during the last quarter. Hedge funds and other institutional investors own 88.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on OLN shares. BMO Capital Markets decreased their target price on Olin from $30.00 to $25.00 and set a “market perform” rating for the company in a report on Monday, July 6th. Barclays started coverage on Olin in a research note on Monday, October 12th. They issued an “equal weight” rating and a $18.00 price target for the company. Wells Fargo & Company cut their price target on shares of Olin from $20.00 to $16.00 and set an “equal weight” rating on the stock in a report on Thursday, October 1st. The Goldman Sachs Group set a $18.00 price objective on shares of Olin in a research report on Wednesday, September 30th. Finally, Royal Bank Of Canada upped their price objective on shares of Olin from $16.00 to $19.00 and gave the stock a “sector perform” rating in a report on Monday. One equities research analyst has rated the stock with a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $20.57.

Olin Stock Performance

Shares of Olin stock opened at $18.12 on Tuesday. The stock has a market cap of $2.07 billion, a price-to-earnings ratio of -12.33 and a beta of 1.23. The firm’s 50-day moving average is $16.44 and its 200 day moving average is $22.25. Olin Corporation has a 1 year low of $14.64 and a 1 year high of $30.46. The company has a debt-to-equity ratio of 1.77, a current ratio of 1.42 and a quick ratio of 0.87.

Olin (NYSE:OLN) last released its quarterly earnings data on Thursday, October 29th. The specialty chemicals company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.02). Olin had a negative net margin of 2.08% and a negative return on equity of 4.76%. The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same period last year, the company posted $0.37 earnings per share. The business’s revenue was up 2.0% compared to the same quarter last year. Sell-side analysts anticipate that Olin Corporation will post -0.80 EPS for the current fiscal year.

Olin Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Thursday, August 27th were given a $0.20 dividend. The ex-dividend date of this dividend was Thursday, August 27th. This represents a $0.80 dividend on an annualized basis and a yield of 4.4%. Olin’s payout ratio is -54.42%.

Olin Profile

Olin Corporation (NYSE: OLN) is a global manufacturer of chemicals and ammunition. The company operates through three primary businesses: Chlor Alkali Products and Vinyls, Epoxy, and Winchester.

Its Chlor Alkali Products and Vinyls business produces chlorine, caustic soda, hydrochloric acid, bleach products, hydrogen, chlorinated organic chemicals and other related materials used in industrial, water-treatment, construction and consumer applications. Olin’s Epoxy business manufactures epoxy resins, intermediates and other specialty materials used in coatings, adhesives, composites, electronics and infrastructure-related applications.

Through its Winchester business, Olin produces and distributes sporting ammunition, reloading components, and small-caliber ammunition for law enforcement and military customers.