Riverhead Capital Management LLC grew its holdings in Olin Co. (NYSE:OLN) by 27.8% in the 3rd quarter, HoldingsChannel reports. The fund owned 217,690 shares of the specialty chemicals company’s stock after purchasing an additional 47,366 shares during the quarter. Riverhead Capital Management LLC’s holdings in Olin were worth $5,590,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of OLN. Marshall Wace LLP bought a new stake in shares of Olin during the 2nd quarter worth $7,135,000. Manning & Napier Group LLC boosted its holdings in shares of Olin by 13.5% during the 3rd quarter. Manning & Napier Group LLC now owns 920,304 shares of the specialty chemicals company’s stock worth $23,632,000 after buying an additional 109,292 shares during the period. Schwab Charles Investment Management Inc. boosted its holdings in shares of Olin by 8.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,181,523 shares of the specialty chemicals company’s stock worth $33,934,000 after buying an additional 91,380 shares during the period. Baird Financial Group Inc. bought a new stake in shares of Olin during the 2nd quarter worth $204,000. Finally, Janney Montgomery Scott LLC boosted its holdings in shares of Olin by 77.9% during the 2nd quarter. Janney Montgomery Scott LLC now owns 15,414 shares of the specialty chemicals company’s stock worth $443,000 after buying an additional 6,749 shares during the period. 86.95% of the stock is owned by institutional investors.

Shares of Olin stock opened at $19.85 on Thursday. The company has a quick ratio of 1.13, a current ratio of 1.81 and a debt-to-equity ratio of 1.14. Olin Co. has a fifty-two week low of $18.49 and a fifty-two week high of $38.84. The firm has a market capitalization of $3.41 billion, a price-to-earnings ratio of 24.51, a P/E/G ratio of 0.32 and a beta of 1.73.

Olin (NYSE:OLN) last issued its quarterly earnings results on Monday, October 29th. The specialty chemicals company reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.09). Olin had a net margin of 11.02% and a return on equity of 10.70%. The company had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same period last year, the company earned $0.31 earnings per share. Olin’s revenue for the quarter was up 20.4% on a year-over-year basis. On average, equities research analysts expect that Olin Co. will post 1.91 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Friday, November 9th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 4.03%. The ex-dividend date is Thursday, November 8th. Olin’s dividend payout ratio (DPR) is presently 98.77%.

In related news, SVP John Maurice Sampson purchased 5,000 shares of Olin stock in a transaction on Tuesday, November 20th. The stock was purchased at an average cost of $19.84 per share, with a total value of $99,200.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Scott Mcdougald Sutton purchased 15,000 shares of Olin stock in a transaction on Thursday, November 1st. The stock was bought at an average cost of $21.62 per share, with a total value of $324,300.00. Following the completion of the acquisition, the director now owns 15,000 shares in the company, valued at $324,300. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 21,800 shares of company stock valued at $460,844. Insiders own 1.70% of the company’s stock.

Several analysts recently issued reports on the stock. Standpoint Research assumed coverage on shares of Olin in a report on Tuesday, August 28th. They set a “buy” rating and a $20.00 price objective for the company. ValuEngine downgraded shares of Olin from a “sell” rating to a “strong sell” rating in a report on Tuesday, September 18th. Barclays decreased their price objective on shares of Olin from $29.00 to $24.00 and set an “equal weight” rating for the company in a report on Wednesday, October 31st. TheStreet downgraded shares of Olin from a “b-” rating to a “c+” rating in a report on Monday, November 12th. Finally, Nomura decreased their price objective on shares of Olin from $29.00 to $27.00 and set a “neutral” rating for the company in a report on Wednesday, October 31st. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $31.91.

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Olin Profile

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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Institutional Ownership by Quarter for Olin (NYSE:OLN)

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