UBS Asset Management Americas Inc. lowered its stake in Olin Corporation (NYSE:OLN) by 22.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 107,277 shares of the specialty chemicals company’s stock after selling 30,569 shares during the quarter. UBS Asset Management Americas Inc. owned 0.06% of Olin Corporation worth $3,248,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. New York State Common Retirement Fund lifted its position in Olin Corporation by 59.5% in the second quarter. New York State Common Retirement Fund now owns 622,007 shares of the specialty chemicals company’s stock valued at $18,834,000 after purchasing an additional 232,094 shares during the last quarter. Columbia Partners L L C Investment Management purchased a new position in shares of Olin Corporation during the second quarter valued at approximately $1,564,000. Acrospire Investment Management LLC increased its stake 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 buying an additional 3,100 shares during the period. Thrivent Financial For Lutherans increased its stake in shares of Olin Corporation by 300.6% during the second quarter. Thrivent Financial For Lutherans now owns 124,080 shares of the specialty chemicals company’s stock valued at $3,757,000 after buying an additional 93,110 shares during the period. Finally, PNC Financial Services Group Inc. increased its stake in shares of Olin Corporation by 2.1% during the second quarter. PNC Financial Services Group Inc. now owns 61,507 shares of the specialty chemicals company’s stock valued at $1,863,000 after buying an additional 1,242 shares during the period. Hedge funds and other institutional investors own 92.62% of the company’s stock.

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Olin Corporation (NYSE:OLN) opened at 35.72 on Thursday. The company has a market capitalization of $5.94 billion, a P/E ratio of 138.99 and a beta of 1.42. The stock’s 50 day moving average price is $33.11 and its 200-day moving average price is $31.27. Olin Corporation has a one year low of $19.62 and a one year high of $36.84.

Olin Corporation (NYSE:OLN) last issued its quarterly earnings results on Monday, July 31st. The specialty chemicals company reported $0.01 EPS for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.15). Olin Corporation had a return on equity of 5.80% and a net margin of 0.72%. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same period in the prior year, the firm posted $0.24 EPS. The business’s revenue was up 11.9% compared to the same quarter last year. Equities analysts forecast that Olin Corporation will post $1.05 EPS for the current year.

In other news, EVP John L. Mcintosh sold 16,070 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $31.02, for a total value of $498,491.40. Following the completion of the transaction, the executive vice president now owns 60,391 shares of the company’s stock, valued at approximately $1,873,328.82. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP John L. Mcintosh sold 24,000 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now directly 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 three months, insiders sold 45,070 shares of company stock valued at $1,407,151. Insiders own 2.90% of the company’s stock.

Several equities analysts have recently issued reports on the company. UBS AG reissued a “neutral” rating and set a $30.00 target price (down from $33.00) on shares of Olin Corporation in a research note on Sunday, June 25th. Cowen and Company reaffirmed an “outperform” rating and issued a $42.00 price target (up from $39.00) on shares of Olin Corporation in a research note on Tuesday. BidaskClub raised Olin Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, August 16th. SunTrust Banks, Inc. reaffirmed a “buy” rating and issued a $44.00 price target (up from $36.00) on shares of Olin Corporation in a research note on Monday, October 2nd. Finally, Zacks Investment Research cut Olin Corporation from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 4th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. Olin Corporation presently has an average rating of “Hold” and an average price target of $36.88.

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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