Olin Co. (NYSE:OLN) Stock Position Reduced by Robotti Robert

Robotti Robert decreased its stake in Olin Co. (NYSE:OLN) by 2.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 112,461 shares of the specialty chemicals company’s stock after selling 2,420 shares during the period. Olin accounts for 0.9% of Robotti Robert’s portfolio, making the stock its 22nd largest position. Robotti Robert owned approximately 0.09% of Olin worth $6,613,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Boston Partners increased its position in shares of Olin by 122.8% during the 4th quarter. Boston Partners now owns 5,029,377 shares of the specialty chemicals company’s stock valued at $271,152,000 after purchasing an additional 2,772,274 shares during the period. Norges Bank acquired a new stake in Olin during the fourth quarter valued at $76,125,000. Balyasny Asset Management L.P. boosted its position in Olin by 218.6% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,649,273 shares of the specialty chemicals company’s stock valued at $88,978,000 after purchasing an additional 1,131,674 shares during the last quarter. Franklin Resources Inc. raised its holdings in Olin by 67.6% during the fourth quarter. Franklin Resources Inc. now owns 663,202 shares of the specialty chemicals company’s stock valued at $35,780,000 after buying an additional 267,460 shares in the last quarter. Finally, Bank of Nova Scotia bought a new position in Olin during the fourth quarter valued at about $12,628,000. Institutional investors own 88.67% of the company’s stock.

Wall Street Analyst Weigh In

OLN has been the topic of several recent research reports. UBS Group cut their target price on Olin from $59.00 to $51.00 and set a “neutral” rating on the stock in a report on Tuesday, July 9th. The Goldman Sachs Group cut their target price on Olin from $55.00 to $49.00 and set a “neutral” rating on the stock in a report on Monday. Barclays dropped their price objective on Olin from $59.00 to $49.00 and set an “equal weight” rating on the stock in a research note on Monday. Piper Sandler lifted their price objective on Olin from $72.00 to $75.00 and gave the stock an “overweight” rating in a research note on Monday, April 29th. Finally, KeyCorp dropped their price objective on Olin from $69.00 to $62.00 and set an “overweight” rating on the stock in a research note on Monday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $55.14.

Olin Stock Performance

OLN remained flat at $44.59 on Monday. The company had a trading volume of 3,614,786 shares, compared to its average volume of 1,093,014. Olin Co. has a 1 year low of $41.71 and a 1 year high of $60.60. The company has a quick ratio of 0.82, a current ratio of 1.43 and a debt-to-equity ratio of 1.29. The company has a market cap of $5.32 billion, a price-to-earnings ratio of 16.04, a PEG ratio of 0.32 and a beta of 1.44. The business has a 50 day moving average of $49.43 and a two-hundred day moving average of $52.67.

Olin (NYSE:OLN) last released its quarterly earnings data on Thursday, July 25th. The specialty chemicals company reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.08). The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.71 billion. Olin had a net margin of 4.26% and a return on equity of 11.73%. The firm’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.13 earnings per share. On average, equities research analysts forecast that Olin Co. will post 3.1 EPS for the current fiscal year.

Olin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Thursday, August 8th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.79%. The ex-dividend date is Thursday, August 8th. Olin’s payout ratio is currently 28.78%.

Olin Profile

Olin Corporation manufactures and distributes chemical products in the United States, Europe, Asia Pacific, Latin America, and Canada. 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, hydrochloric acid, hydrogen, bleach products, potassium hydroxide, and chlorinated organics intermediates and solvents.