GRT Capital Partners L.L.C. Has $420,000 Position in Olin Corporation (OLN)
GRT Capital Partners L.L.C. continued to hold its position in shares of Olin Corporation (NYSE:OLN) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,884 shares of the specialty chemicals company’s stock at the close of the second quarter. GRT Capital Partners L.L.C.’s holdings in Olin Corporation were worth $420,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Jennison Associates LLC bought a new position in shares of Olin Corporation in the second quarter valued at $757,000. State Board of Administration of Florida Retirement System grew its stake in shares of Olin Corporation by 133.5% in the second quarter. State Board of Administration of Florida Retirement System now owns 190,557 shares of the specialty chemicals company’s stock valued at $5,770,000 after buying an additional 108,934 shares in the last quarter. King Street Capital Management L.P. bought a new position in shares of Olin Corporation in the first quarter valued at $65,740,000. Schwab Charles Investment Management Inc. grew its stake in shares of Olin Corporation by 12.5% in the first quarter. Schwab Charles Investment Management Inc. now owns 1,005,335 shares of the specialty chemicals company’s stock valued at $33,046,000 after buying an additional 111,742 shares in the last quarter. Finally, BlackRock Inc. grew its stake in shares of Olin Corporation by 7,604.7% in the first quarter. BlackRock Inc. now owns 19,895,613 shares of the specialty chemicals company’s stock valued at $653,967,000 after buying an additional 19,637,387 shares in the last quarter. 92.62% of the stock is owned by institutional investors and hedge funds.
OLN has been the subject of several analyst reports. Cowen and Company set a $39.00 target price on shares of Olin Corporation and gave the company a “buy” rating in a research note on Friday, July 28th. BidaskClub raised shares of Olin Corporation from a “hold” rating to a “buy” rating in a research note on Sunday, July 16th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $35.00 price target on shares of Olin Corporation in a report on Tuesday, June 20th. Finally, UBS AG reaffirmed a “neutral” rating and set a $30.00 price target (down previously from $33.00) on shares of Olin Corporation in a report on Sunday, June 25th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Olin Corporation currently has a consensus rating of “Hold” and an average price target of $35.00.
Shares of Olin Corporation (OLN) traded down 1.11% during trading on Thursday, reaching $31.10. The company’s stock had a trading volume of 164,425 shares. The stock’s 50 day moving average price is $30.59 and its 200-day moving average price is $30.92. The stock has a market cap of $5.17 billion, a price-to-earnings ratio of 121.01 and a beta of 1.40. Olin Corporation has a 52-week low of $18.24 and a 52-week high of $33.88.
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). The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.51 billion. Olin Corporation had a return on equity of 5.80% and a net margin of 0.72%. Olin Corporation’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.24 earnings per share. Equities analysts anticipate that Olin Corporation will post $1.12 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 11th. Stockholders of record on Thursday, August 10th were given a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, August 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.54%. Olin Corporation’s dividend payout ratio is currently 320.00%.
In other news, EVP John L. Mcintosh sold 24,000 shares of Olin Corporation stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $31.54, for a total value of $756,960.00. Following the sale, the executive vice president now directly owns 84,391 shares in the company, valued at approximately $2,661,692.14. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Stephen C. Curley sold 5,000 shares of Olin Corporation 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 45,070 shares of company stock worth $1,407,151. Corporate insiders own 2.90% of the company’s stock.
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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