Financial Engines Advisors L.L.C. Cuts Stake in Olin Corporation (OLN)
Financial Engines Advisors L.L.C. cut its position in Olin Corporation (NYSE:OLN) by 11.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 66,832 shares of the specialty chemicals company’s stock after selling 8,322 shares during the period. Olin Corporation accounts for 0.1% of Financial Engines Advisors L.L.C.’s holdings, making the stock its 29th largest position. Financial Engines Advisors L.L.C.’s holdings in Olin Corporation were worth $2,024,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in OLN. Bollard Group LLC raised its position in Olin Corporation by 0.6% in the first quarter. Bollard Group LLC now owns 3,180 shares of the specialty chemicals company’s stock worth $105,000 after buying an additional 19 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd. purchased a new stake in Olin Corporation during the first quarter valued at approximately $118,000. Meadow Creek Investment Management LLC raised its stake in Olin Corporation by 6.9% in the first quarter. Meadow Creek Investment Management LLC now owns 4,464 shares of the specialty chemicals company’s stock valued at $147,000 after buying an additional 288 shares during the last quarter. Creative Planning raised its stake in Olin Corporation by 130.8% in the second quarter. Creative Planning now owns 5,050 shares of the specialty chemicals company’s stock valued at $153,000 after buying an additional 2,862 shares during the last quarter. Finally, Banced Corp purchased a new stake in Olin Corporation during the first quarter valued at approximately $201,000. 92.85% of the stock is currently owned by institutional investors and hedge funds.
Shares of Olin Corporation (OLN) opened at 28.62 on Friday. The firm has a market cap of $4.76 billion, a P/E ratio of 111.36 and a beta of 1.43. Olin Corporation has a 12-month low of $18.24 and a 12-month high of $33.88. The company has a 50-day moving average of $30.30 and a 200 day moving average of $30.68.
Olin Corporation (NYSE:OLN) last posted its quarterly earnings results on Monday, July 31st. The specialty chemicals company reported $0.01 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.16 by $0.15. The company had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.51 billion. Olin Corporation had a return on equity of 5.80% and a net margin of 0.72%. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.24 EPS. Equities research analysts anticipate that Olin Corporation will post $1.14 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Thursday, August 10th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.80%. The ex-dividend date is Tuesday, August 8th. Olin Corporation’s payout ratio is currently 320.00%.
Several analysts have recently commented on the stock. BidaskClub raised shares of Olin Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, June 14th. UBS AG reaffirmed a “neutral” rating and set a $30.00 price target (down previously from $33.00) on shares of Olin Corporation in a research report on Sunday, June 25th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $35.00 price target on shares of Olin Corporation in a research report on Tuesday, June 20th. Cowen and Company set a $39.00 price target on shares of Olin Corporation and gave the company a “buy” rating in a research report on Friday, July 28th. Finally, Tudor Pickering assumed coverage on shares of Olin Corporation in a research report on Friday, May 12th. They set a “buy” rating and a $37.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $32.75.
In other news, EVP John L. Mcintosh sold 24,000 shares of the stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $31.54, for a total value of $756,960.00. Following the completion of the sale, the executive vice president now owns 84,391 shares of the company’s stock, valued at $2,661,692.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John L. Mcintosh sold 16,070 shares of the stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $31.02, for a total transaction of $498,491.40. Following the completion of the sale, the executive vice president now directly owns 60,391 shares of the company’s stock, valued at approximately $1,873,328.82. The disclosure for this sale can be found here. 2.90% of the stock is owned by corporate insiders.
About Olin Corporation
Olin Corporation is a manufacturer and distributor of chemical products, and ammunition. The Company operates through three 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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