PVG Asset Management Corp Buys 30,212 Shares of Olin Co. (OLN)
PVG Asset Management Corp increased its stake in shares of Olin Co. (NYSE:OLN) by 46.0% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 95,957 shares of the specialty chemicals company’s stock after acquiring an additional 30,212 shares during the period. Olin makes up approximately 1.6% of PVG Asset Management Corp’s holdings, making the stock its 15th largest holding. PVG Asset Management Corp owned about 0.06% of Olin worth $2,755,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Balter Liquid Alternatives LLC acquired a new position in Olin during the 2nd quarter worth approximately $154,000. Twin Tree Management LP lifted its position in Olin by 50.3% during the 1st quarter. Twin Tree Management LP now owns 6,011 shares of the specialty chemicals company’s stock worth $183,000 after acquiring an additional 2,011 shares in the last quarter. Baird Financial Group Inc. acquired a new position in Olin during the 2nd quarter worth approximately $204,000. Silvant Capital Management LLC acquired a new position in Olin during the 1st quarter worth approximately $219,000. Finally, WINTON GROUP Ltd acquired a new position in Olin during the 1st quarter worth approximately $222,000. 87.65% of the stock is currently owned by hedge funds and other institutional investors.
In related news, EVP John L. Mcintosh sold 42,000 shares of the company’s stock in a transaction on Wednesday, August 8th. The stock was sold at an average price of $29.98, for a total transaction of $1,259,160.00. Following the completion of the transaction, the executive vice president now directly owns 97,141 shares in the company, valued at approximately $2,912,287.18. The sale was disclosed in a document filed with the SEC, which is available through this link. 1.70% of the stock is owned by corporate insiders.
Shares of OLN opened at $28.92 on Monday. Olin Co. has a 52-week low of $27.68 and a 52-week high of $38.84. The company has a market capitalization of $4.94 billion, a price-to-earnings ratio of 35.70, a price-to-earnings-growth ratio of 0.56 and a beta of 1.49. The company has a current ratio of 1.80, a quick ratio of 1.07 and a debt-to-equity ratio of 1.27.
Olin (NYSE:OLN) last posted its quarterly earnings results on Tuesday, July 31st. The specialty chemicals company reported $0.54 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.15. The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.77 billion. Olin had a return on equity of 8.84% and a net margin of 9.40%. sell-side analysts expect that Olin Co. will post 2.1 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 10th. Investors of record on Friday, August 10th were paid a dividend of $0.20 per share. The ex-dividend date was Thursday, August 9th. This represents a $0.80 dividend on an annualized basis and a yield of 2.77%. Olin’s payout ratio is currently 98.77%.
Olin Corporation manufactures and distributes chemical products in the United States and internationally. 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, trichloroethylene and vinylidene chloride, hydrochloric acid, hydrogen, bleach products, and potassium hydroxide.
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