Olin Co. (OLN) Holdings Raised by Mutual of America Capital Management LLC
Mutual of America Capital Management LLC raised its holdings in shares of Olin Co. (NYSE:OLN) by 3.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 193,047 shares of the specialty chemicals company’s stock after acquiring an additional 6,677 shares during the quarter. Mutual of America Capital Management LLC owned approximately 0.12% of Olin worth $5,544,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Balter Liquid Alternatives LLC bought a new stake in Olin during the second quarter valued at about $154,000. Twin Tree Management LP raised its holdings in Olin by 50.3% during the first quarter. Twin Tree Management LP now owns 6,011 shares of the specialty chemicals company’s stock valued at $183,000 after acquiring an additional 2,011 shares during the period. Atria Investments LLC bought a new stake in Olin during the first quarter valued at about $201,000. Silvant Capital Management LLC bought a new stake in Olin during the first quarter valued at about $219,000. Finally, GWM Advisors LLC bought a new stake in Olin during the first quarter valued at about $221,000. 87.74% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have commented on OLN shares. TheStreet cut Olin from a “b” rating to a “c+” rating in a report on Tuesday, May 1st. ValuEngine raised Olin from a “sell” rating to a “hold” rating in a report on Tuesday, May 8th. Royal Bank of Canada cut Olin from an “outperform” rating to a “sector perform” rating and reduced their target price for the stock from $38.85 to $27.79 in a report on Monday, June 11th. Citigroup reduced their target price on Olin from $38.00 to $35.00 and set a “buy” rating on the stock in a report on Wednesday, July 11th. Finally, Zacks Investment Research cut Olin from a “hold” rating to a “sell” rating in a report on Tuesday, July 17th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $38.20.
Shares of OLN stock opened at $30.70 on Friday. Olin Co. has a 12-month low of $27.68 and a 12-month high of $38.84. The company has a current ratio of 1.80, a quick ratio of 1.07 and a debt-to-equity ratio of 1.27. The stock has a market capitalization of $5.13 billion, a PE ratio of 37.90, a PEG ratio of 0.58 and a beta of 1.48.
Olin (NYSE:OLN) last issued its earnings results on Tuesday, July 31st. The specialty chemicals company reported $0.54 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.15. Olin had a return on equity of 8.84% and a net margin of 9.40%. The firm had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.77 billion. analysts predict that Olin Co. will post 2.1 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 10th. Stockholders of record on Friday, August 10th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Thursday, August 9th. This represents a $0.80 annualized dividend and a dividend yield of 2.61%. Olin’s dividend payout ratio (DPR) is 98.77%.
Olin declared that its board has approved a stock buyback program on Tuesday, May 1st that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the specialty chemicals company to buy up to 9.9% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
Olin Corporation manufactures and distributes chemical products in the United States and internationally. 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, trichloroethylene and vinylidene chloride, hydrochloric acid, hydrogen, bleach products, and potassium hydroxide.
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