JPMorgan Chase & Co. reduced its holdings in shares of Olin Corporation (NYSE:OLN) by 12.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 882,239 shares of the specialty chemicals company’s stock after selling 120,872 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.53% of Olin Corporation worth $26,713,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in OLN. Russell Investments Group Ltd. acquired a new position in shares of Olin Corporation during the 1st quarter worth about $1,398,000. Great West Life Assurance Co. Can boosted its position in shares of Olin Corporation by 4.0% during the 1st quarter. Great West Life Assurance Co. Can now owns 98,121 shares of the specialty chemicals company’s stock worth $3,224,000 after acquiring an additional 3,818 shares in the last quarter. Swiss National Bank boosted its position in shares of Olin Corporation by 0.6% during the 1st quarter. Swiss National Bank now owns 273,032 shares of the specialty chemicals company’s stock worth $8,975,000 after acquiring an additional 1,500 shares in the last quarter. World Asset Management Inc boosted its position in shares of Olin Corporation by 1.7% during the 1st quarter. World Asset Management Inc now owns 10,125 shares of the specialty chemicals company’s stock worth $333,000 after acquiring an additional 168 shares in the last quarter. Finally, UBS Asset Management Americas Inc. boosted its position in shares of Olin Corporation by 41.0% during the 1st quarter. UBS Asset Management Americas Inc. now owns 137,846 shares of the specialty chemicals company’s stock worth $4,531,000 after acquiring an additional 40,086 shares in the last quarter. 92.62% of the stock is owned by institutional investors and hedge funds.

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A number of analysts recently issued reports on OLN shares. BidaskClub raised Olin Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, June 21st. UBS AG reissued a “neutral” rating and issued a $30.00 target price (down from $33.00) on shares of Olin Corporation in a research report on Sunday, June 25th. Cowen and Company reissued an “outperform” rating and issued a $39.00 target price (up from $37.00) on shares of Olin Corporation in a research report on Thursday, June 22nd. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $35.00 target price on shares of Olin Corporation in a research report on Tuesday, June 20th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $35.00.

Shares of Olin Corporation (OLN) opened at 33.46 on Tuesday. The company has a 50 day moving average price of $30.73 and a 200-day moving average price of $30.93. The firm has a market capitalization of $5.56 billion, a PE ratio of 130.19 and a beta of 1.40. Olin Corporation has a 12 month low of $18.24 and a 12 month high of $33.88.

Olin Corporation (NYSE:OLN) last posted its quarterly earnings results on Monday, July 31st. The specialty chemicals company reported $0.01 EPS for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.15). The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.51 billion. Olin Corporation had a return on equity of 5.80% and a net margin of 0.72%. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter last year, the business posted $0.24 earnings per share. Equities research analysts expect that Olin Corporation will post $1.12 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, September 11th. Investors of record on Thursday, August 10th were paid a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, August 8th. This represents a $0.80 dividend on an annualized basis and a yield of 2.39%. Olin Corporation’s dividend payout ratio (DPR) is 320.00%.

In related news, EVP John L. Mcintosh sold 24,000 shares of Olin Corporation stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $31.54, for a total value of $756,960.00. Following the completion of the transaction, the executive vice president now directly owns 84,391 shares in the company, valued at $2,661,692.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Stephen C. Curley sold 5,000 shares of Olin Corporation stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $30.34, for a total value of $151,700.00. Following the completion of the transaction, the vice president now owns 23,837 shares of the company’s stock, valued at $723,214.58. The disclosure for this sale can be found here. Insiders sold 45,070 shares of company stock valued at $1,407,151 over the last quarter. Insiders own 2.90% of the company’s stock.

Olin Corporation Profile

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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Institutional Ownership by Quarter for Olin Corporation (NYSE:OLN)

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