Olin Corporation $OLN Shares Acquired by Pzena Investment Management LLC

Pzena Investment Management LLC lifted its stake in shares of Olin Corporation (NYSE:OLN) by 4.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,829,021 shares of the specialty chemicals company’s stock after buying an additional 166,482 shares during the quarter. Pzena Investment Management LLC’s holdings in Olin were worth $76,925,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in OLN. Fifth Third Bancorp grew its position in shares of Olin by 160.5% during the first quarter. Fifth Third Bancorp now owns 1,206 shares of the specialty chemicals company’s stock worth $29,000 after buying an additional 743 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Olin during the first quarter worth about $31,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Olin in the first quarter valued at approximately $32,000. UMB Bank n.a. boosted its holdings in Olin by 134.9% in the second quarter. UMB Bank n.a. now owns 1,736 shares of the specialty chemicals company’s stock valued at $35,000 after purchasing an additional 997 shares in the last quarter. Finally, Allworth Financial LP boosted its holdings in Olin by 188.5% in the first quarter. Allworth Financial LP now owns 1,676 shares of the specialty chemicals company’s stock valued at $37,000 after purchasing an additional 1,095 shares in the last quarter. 88.67% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Olin

In other news, VP Teresa M. Vermillion sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $21.11, for a total transaction of $126,660.00. Following the completion of the sale, the vice president owned 17,199 shares in the company, valued at $363,070.89. This represents a 25.86% 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. 1.70% of the stock is owned by company insiders.

Olin Price Performance

Shares of NYSE OLN opened at $22.36 on Monday. 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 Corporation has a twelve month low of $17.66 and a twelve month high of $48.00. The stock has a 50 day moving average of $23.22 and a two-hundred day moving average of $21.70. The stock has a market cap of $2.56 billion, a P/E ratio of -186.33 and a beta of 1.68.

Olin (NYSE:OLN) last issued its quarterly earnings data on Monday, July 28th. The specialty chemicals company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.04). Olin had a negative net margin of 0.21% and a negative return on equity of 0.13%. The firm had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter in the prior year, the firm posted $0.62 EPS. Olin’s quarterly revenue was up 7.0% compared to the same quarter last year. On average, research analysts forecast that Olin Corporation will post 1.38 earnings per share for the current year.

Olin Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Thursday, August 28th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.6%. The ex-dividend date was Thursday, August 28th. Olin’s dividend payout ratio is -666.67%.

Analyst Ratings Changes

A number of brokerages recently issued reports on OLN. Citigroup downgraded Olin from a “buy” rating to a “neutral” rating and set a $25.00 price target for the company. in a report on Thursday, October 2nd. Fermium Researc raised Olin to a “strong-buy” rating in a report on Thursday, September 25th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Olin in a report on Wednesday, October 8th. Royal Bank Of Canada lowered their price target on Olin from $25.00 to $23.00 and set a “sector perform” rating for the company in a report on Thursday, July 3rd. Finally, Wells Fargo & Company upped their price target on Olin from $21.00 to $25.00 and gave the company an “equal weight” rating in a report on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $26.21.

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.