US Bancorp DE lowered its position in shares of Olin Corporation (NYSE:OLN) by 12.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 21,639 shares of the specialty chemicals company’s stock after selling 3,135 shares during the period. US Bancorp DE’s holdings in Olin Corporation were worth $655,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Bollard Group LLC increased 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. OLD Mutual Customised Solutions Proprietary Ltd. purchased a new position in shares of Olin Corporation during the first quarter worth approximately $118,000. Meadow Creek Investment Management LLC increased 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. Creative Planning increased its position in shares of Olin Corporation by 130.8% in the second quarter. Creative Planning now owns 5,050 shares of the specialty chemicals company’s stock worth $153,000 after buying an additional 2,862 shares during the period. Finally, Neuburgh Advisers LLC increased 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. Institutional investors and hedge funds own 93.02% of the company’s stock.

Shares of Olin Corporation (NYSE:OLN) traded up 2.47% on Tuesday, reaching $30.34. The company’s stock had a trading volume of 871,928 shares. The company has a market cap of $5.04 billion, a PE ratio of 118.05 and a beta of 1.43. Olin Corporation has a 52-week low of $18.24 and a 52-week high of $33.88. The firm has a 50 day moving average of $30.36 and a 200 day moving average of $30.77.

Olin Corporation (NYSE:OLN) last posted its earnings results on Monday, July 31st. The specialty chemicals company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by $0.15. The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.51 billion. Olin Corporation had a return on equity of 5.80% and a net margin of 0.72%. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.24 EPS. Analysts predict that Olin Corporation will post $1.14 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Thursday, August 10th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, August 8th. This represents a $0.80 annualized dividend and a dividend yield of 2.70%. Olin Corporation’s dividend payout ratio is 320.00%.

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Several analysts have recently issued reports on the company. UBS AG reiterated a “neutral” rating and set a $30.00 price target (down previously from $33.00) on shares of Olin Corporation in a research note on Sunday, June 25th. Royal Bank Of Canada reissued a “buy” rating and set a $35.00 price objective on shares of Olin Corporation in a research report on Tuesday, June 20th. BidaskClub raised Olin Corporation from a “hold” rating to a “buy” rating in a research report on Sunday, July 16th. Tudor Pickering assumed coverage on Olin Corporation in a research report on Friday, May 12th. They set a “buy” rating and a $37.00 price objective for the company. Finally, Zacks Investment Research raised Olin Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, April 20th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $32.75.

In other Olin Corporation news, EVP John L. Mcintosh sold 24,000 shares of the company’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $31.54, for a total transaction of $756,960.00. Following the sale, the executive vice president now owns 84,391 shares of the company’s stock, valued at $2,661,692.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John L. Mcintosh sold 16,070 shares of the company’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $31.02, for a total transaction of $498,491.40. Following the sale, the executive vice president now directly owns 60,391 shares in the company, valued at approximately $1,873,328.82. The disclosure for this sale can be found here. Insiders own 2.90% of the company’s stock.

Olin Corporation Company 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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