Olin Corporation (OLN) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank
Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Olin Corporation (NYSE:OLN) by 9.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,126 shares of the specialty chemicals company’s stock after buying an additional 544 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Olin Corporation were worth $185,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. World Asset Management Inc lifted its holdings in Olin Corporation by 1.7% in the first quarter. World Asset Management Inc now owns 10,125 shares of the specialty chemicals company’s stock worth $333,000 after buying an additional 168 shares during the period. OppenheimerFunds Inc. lifted its holdings in Olin Corporation by 0.5% in the first quarter. OppenheimerFunds Inc. now owns 44,497 shares of the specialty chemicals company’s stock worth $1,462,000 after buying an additional 201 shares during the period. Meadow Creek Investment Management LLC lifted its holdings in Olin Corporation by 6.9% in the first quarter. Meadow Creek Investment Management LLC now owns 4,464 shares of the specialty chemicals company’s stock worth $147,000 after buying an additional 288 shares during the period. Neuburgh Advisers LLC lifted its holdings in Olin Corporation by 6.9% in the first quarter. Neuburgh Advisers LLC now owns 6,138 shares of the specialty chemicals company’s stock worth $202,000 after buying an additional 396 shares during the period. Finally, Teacher Retirement System of Texas lifted its holdings in Olin Corporation by 3.5% in the second quarter. Teacher Retirement System of Texas now owns 13,355 shares of the specialty chemicals company’s stock worth $404,000 after buying an additional 453 shares during the period. Institutional investors and hedge funds own 92.62% of the company’s stock.
In other news, 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 transaction, the executive vice president now directly owns 84,391 shares in the company, valued at $2,661,692.14. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Stephen C. Curley sold 5,000 shares of the stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $30.34, for a total transaction of $151,700.00. Following the transaction, 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 have sold 45,070 shares of company stock worth $1,407,151. Insiders own 2.90% of the company’s stock.
Olin Corporation (OLN) opened at 32.29 on Friday. The stock’s 50 day moving average is $30.64 and its 200 day moving average is $30.93. The stock has a market capitalization of $5.37 billion, a price-to-earnings ratio of 125.64 and a beta of 1.40. Olin Corporation has a 12-month low of $18.24 and a 12-month high of $33.88.
Olin Corporation (NYSE:OLN) last released its quarterly earnings data on Monday, July 31st. The specialty chemicals company reported $0.01 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.15). Olin Corporation had a net margin of 0.72% and a return on equity of 5.80%. The business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter in the prior year, the business posted $0.24 earnings per share. Olin Corporation’s revenue for the quarter was up 11.9% on a year-over-year basis. Equities analysts predict that Olin Corporation will post $1.12 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 11th. Stockholders of record on Thursday, August 10th were paid a dividend of $0.20 per share. 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 2.48%. Olin Corporation’s dividend payout ratio is presently 320.00%.
OLN has been the subject of several research analyst reports. Cowen and Company restated an “outperform” rating and issued a $39.00 price objective (up from $37.00) on shares of Olin Corporation in a report on Thursday, June 22nd. BidaskClub upgraded shares of Olin Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, June 21st. Royal Bank Of Canada restated a “buy” rating and issued a $35.00 price objective on shares of Olin Corporation in a report on Tuesday, June 20th. Finally, UBS AG restated a “neutral” rating and issued a $30.00 price objective (down from $33.00) on shares of Olin Corporation in a report on Sunday, June 25th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $35.00.
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Olin Corporation 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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