Comerica Securities Inc. increased its stake in shares of Olin Corporation (NYSE:OLN) by 0.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 99,523 shares of the specialty chemicals company’s stock after purchasing an additional 561 shares during the period. Comerica Securities Inc. owned approximately 0.06% of Olin Corporation worth $3,014,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. World Asset Management Inc raised its holdings in shares of Olin Corporation by 1.7% during the first quarter. World Asset Management Inc now owns 10,125 shares of the specialty chemicals company’s stock valued at $333,000 after purchasing an additional 168 shares during the last quarter. OppenheimerFunds Inc. raised its holdings in shares of Olin Corporation by 0.5% during the first quarter. OppenheimerFunds Inc. now owns 44,497 shares of the specialty chemicals company’s stock valued at $1,462,000 after purchasing an additional 201 shares during the last quarter. Meadow Creek Investment Management LLC raised its holdings in shares of Olin Corporation by 6.9% during the first quarter. Meadow Creek Investment Management LLC now owns 4,464 shares of the specialty chemicals company’s stock valued at $147,000 after purchasing an additional 288 shares during the last quarter. Neuburgh Advisers LLC raised its holdings in shares of Olin Corporation by 6.9% during the first quarter. Neuburgh Advisers LLC now owns 6,138 shares of the specialty chemicals company’s stock valued at $202,000 after purchasing an additional 396 shares during the last quarter. Finally, Teacher Retirement System of Texas raised its holdings in shares of Olin Corporation by 3.5% during the second quarter. Teacher Retirement System of Texas now owns 13,355 shares of the specialty chemicals company’s stock valued at $404,000 after purchasing an additional 453 shares during the last quarter. 92.62% of the stock is owned by hedge funds and other institutional investors.

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In related news, EVP John L. Mcintosh sold 16,070 shares of the stock in a transaction that occurred on Wednesday, August 2nd. The shares were 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 directly 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John L. Mcintosh sold 24,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 84,391 shares of the company’s stock, valued at $2,661,692.14. The disclosure for this sale can be found here. Insiders sold a total of 45,070 shares of company stock valued at $1,407,151 over the last ninety days. 2.90% of the stock is currently owned by insiders.

Shares of Olin Corporation (NYSE OLN) traded down 1.30% during mid-day trading on Thursday, reaching $31.04. 520,648 shares of the company traded hands. Olin Corporation has a 52 week low of $18.24 and a 52 week high of $33.88. The firm has a market capitalization of $5.16 billion, a price-to-earnings ratio of 120.78 and a beta of 1.40. The firm has a 50-day moving average price of $30.59 and a 200 day moving average price of $30.92.

Olin Corporation (NYSE:OLN) last announced its quarterly earnings data on Monday, July 31st. The specialty chemicals company reported $0.01 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.15). The company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.51 billion. Olin Corporation had a net margin of 0.72% and a return on equity of 5.80%. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.24 earnings per share. On average, analysts anticipate that Olin Corporation will post $1.12 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 11th. Investors of record on Thursday, August 10th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.54%. The ex-dividend date of this dividend was Tuesday, August 8th. Olin Corporation’s payout ratio is currently 320.00%.

Several research firms have recently weighed in on OLN. BidaskClub raised shares of Olin Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, June 14th. UBS AG reissued a “neutral” rating and set a $30.00 price objective (down from $33.00) on shares of Olin Corporation in a report 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 report on Tuesday, June 20th. Finally, Cowen and Company set a $39.00 price objective on shares of Olin Corporation and gave the company a “buy” rating in a report on Friday, July 28th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $35.00.

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.

Institutional Ownership by Quarter for Olin Corporation (NYSE:OLN)

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