Olin Corporation (OLN) Stake Boosted by TVR Capital Management LP
TVR Capital Management LP grew its stake in shares of Olin Corporation (NYSE:OLN) by 714.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 442,597 shares of the specialty chemicals company’s stock after acquiring an additional 388,225 shares during the quarter. Olin Corporation comprises approximately 3.6% of TVR Capital Management LP’s investment portfolio, making the stock its 10th largest holding. TVR Capital Management LP owned about 0.27% of Olin Corporation worth $13,401,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. OLD Mutual Customised Solutions Proprietary Ltd. acquired a new position in shares of Olin Corporation during the first quarter valued at about $118,000. Acrospire Investment Management LLC increased its holdings in shares of Olin Corporation by 238.5% during the second quarter. Acrospire Investment Management LLC now owns 4,400 shares of the specialty chemicals company’s stock valued at $133,000 after acquiring an additional 3,100 shares in the last quarter. Creative Planning increased its holdings in shares of Olin Corporation by 130.8% during the second quarter. Creative Planning now owns 5,050 shares of the specialty chemicals company’s stock valued at $153,000 after acquiring an additional 2,862 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Olin Corporation by 9.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,126 shares of the specialty chemicals company’s stock valued at $185,000 after acquiring an additional 544 shares in the last quarter. Finally, Frontier Wealth Management LLC acquired a new position in shares of Olin Corporation during the second quarter valued at about $200,000. Hedge funds and other institutional investors own 92.62% of the company’s stock.
In other Olin Corporation news, VP Stephen C. Curley sold 5,000 shares of the business’s stock in a transaction that occurred on 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 sale, the vice president now owns 23,837 shares in the company, valued at $723,214.58. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP John L. Mcintosh sold 24,000 shares of the business’s stock in a transaction that occurred 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 approximately $2,661,692.14. The disclosure for this sale can be found here. In the last quarter, insiders sold 45,070 shares of company stock valued at $1,407,151. 2.90% of the stock is owned by company insiders.
Several research firms have recently issued reports on OLN. Zacks Investment Research downgraded shares of Olin Corporation from a “hold” rating to a “strong sell” rating in a report on Wednesday. SunTrust Banks, Inc. restated a “buy” rating and set a $44.00 price objective (up previously from $36.00) on shares of Olin Corporation in a report on Monday, October 2nd. Citigroup Inc. began coverage on shares of Olin Corporation in a report on Wednesday, September 27th. They set a “buy” rating and a $39.00 price objective on the stock. BidaskClub upgraded shares of Olin Corporation from a “hold” rating to a “buy” rating in a report on Sunday, July 16th. Finally, Cowen and Company set a $39.00 price target on shares of Olin Corporation and gave the stock a “buy” rating in a report on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $36.50.
Shares of Olin Corporation (OLN) traded down 0.19% during trading on Friday, reaching $36.61. 1,499,103 shares of the company traded hands. The company has a market capitalization of $6.09 billion, a price-to-earnings ratio of 142.45 and a beta of 1.42. Olin Corporation has a 1-year low of $19.62 and a 1-year high of $36.84. The stock’s 50 day moving average is $32.62 and its 200 day moving average is $31.21.
Olin Corporation (NYSE:OLN) last issued its quarterly earnings data 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). Olin Corporation had a net margin of 0.72% and a return on equity of 5.80%. The firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.51 billion. During the same quarter in the prior year, the firm posted $0.24 EPS. Olin Corporation’s quarterly revenue was up 11.9% compared to the same quarter last year. On average, analysts forecast that Olin Corporation will post $1.07 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 11th. Shareholders of record on Thursday, August 10th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date was Tuesday, August 8th. Olin Corporation’s dividend payout ratio is currently 320.00%.
COPYRIGHT VIOLATION NOTICE: This piece of content was posted by Watch List News and is the sole property of of Watch List News. If you are viewing this piece of content on another website, it was copied illegally and reposted in violation of U.S. and international trademark & copyright law. The correct version of this piece of content can be accessed at https://www.watchlistnews.com/olin-corporation-oln-stake-boosted-by-tvr-capital-management-lp/1618158.html.
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.
Want to see what other hedge funds are holding OLN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Olin Corporation (NYSE:OLN).
Receive News & Ratings for Olin Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Olin Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.