Olin Corporation (OLN) Position Increased by Parametric Portfolio Associates LLC
Parametric Portfolio Associates LLC raised its position in shares of Olin Corporation (NYSE:OLN) by 15.4% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 128,056 shares of the specialty chemicals company’s stock after buying an additional 17,131 shares during the period. Parametric Portfolio Associates LLC’s holdings in Olin Corporation were worth $4,209,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Bollard Group LLC boosted its position in shares of 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. Meadow Creek Investment Management LLC boosted its position in shares of 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 worth $147,000 after buying an additional 288 shares during the period. Banced Corp acquired a new position in shares of Olin Corporation during the first quarter worth $201,000. Neuburgh Advisers LLC boosted its position in shares of Olin Corporation by 6.9% in the first quarter. Neuburgh Advisers LLC now owns 6,138 shares of the specialty chemicals company’s stock worth $202,000 after buying an additional 396 shares during the period. Finally, Sheets Smith Wealth Management acquired a new position in shares of Olin Corporation during the first quarter worth $221,000. 93.02% of the stock is currently owned by hedge funds and other institutional investors.
Olin Corporation (NYSE OLN) opened at 29.31 on Wednesday. Olin Corporation has a 52-week low of $18.24 and a 52-week high of $33.88. The stock’s 50 day moving average is $30.23 and its 200-day moving average is $29.75. The firm has a market capitalization of $4.86 billion, a PE ratio of 102.13 and a beta of 1.47.
Olin Corporation (NYSE:OLN) last announced its quarterly earnings results on Tuesday, May 2nd. The specialty chemicals company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.24 by $0.10. Olin Corporation had a net margin of 0.82% and a return on equity of 7.40%. The company had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.44 billion. Equities analysts expect that Olin Corporation will post $1.21 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, June 9th. Shareholders of record on Wednesday, May 10th were issued a dividend of $0.20 per share. The ex-dividend date was Monday, May 8th. This represents a $0.80 annualized dividend and a yield of 2.73%. Olin Corporation’s dividend payout ratio (DPR) is presently 285.71%.
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A number of research analysts have weighed in on the stock. 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 reissued an “outperform” rating and set a $39.00 target price (up from $37.00) on shares of Olin Corporation in a research report on Thursday, June 22nd. BidaskClub raised shares of Olin Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, June 14th. Tudor Pickering started coverage on shares of Olin Corporation in a research report on Friday, May 12th. They set a “buy” rating and a $37.00 target price on the stock. Finally, Zacks Investment Research raised shares of Olin Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, April 20th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $33.14.
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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