Olin Co. (NYSE:OLN) Shares Purchased by Empowered Funds LLC

Empowered Funds LLC raised its stake in shares of Olin Co. (NYSE:OLNGet Rating) by 0.9% in the 1st quarter, HoldingsChannel.com reports. The firm owned 86,949 shares of the specialty chemicals company’s stock after purchasing an additional 758 shares during the quarter. Empowered Funds LLC’s holdings in Olin were worth $4,546,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of OLN. Sageworth Trust Co of South Dakota acquired a new stake in shares of Olin in the fourth quarter worth $25,000. Castle Financial & Retirement Planning Associates Inc. acquired a new stake in shares of Olin in the fourth quarter worth $31,000. National Bank of Canada FI acquired a new stake in shares of Olin in the fourth quarter worth $38,000. Quent Capital LLC acquired a new stake in shares of Olin in the fourth quarter worth $40,000. Finally, Loomis Sayles & Co. L P acquired a new stake in shares of Olin in the fourth quarter worth $42,000. 81.79% of the stock is owned by hedge funds and other institutional investors.

Olin stock opened at $45.60 on Friday. The firm’s 50-day moving average is $58.06 and its 200-day moving average is $54.58. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.94 and a current ratio of 1.49. Olin Co. has a 1 year low of $39.90 and a 1 year high of $67.25. The company has a market cap of $6.92 billion, a P/E ratio of 5.11 and a beta of 1.20.

Olin (NYSE:OLNGet Rating) last posted its quarterly earnings results on Thursday, April 28th. The specialty chemicals company reported $2.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.33 by $0.15. Olin had a net margin of 15.30% and a return on equity of 58.94%. The company had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.35 billion. As a group, sell-side analysts predict that Olin Co. will post 10.06 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, June 10th. Stockholders of record on Tuesday, May 10th were given a $0.20 dividend. The ex-dividend date of this dividend was Monday, May 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.75%. Olin’s payout ratio is currently 8.97%.

In related news, VP Valerie A. Peters sold 5,500 shares of the stock in a transaction dated Wednesday, May 18th. The shares were sold at an average price of $63.93, for a total value of $351,615.00. Following the sale, the vice president now owns 4,082 shares of the company’s stock, valued at approximately $260,962.26. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP R Nichole Sumner sold 9,518 shares of the stock in a transaction dated Friday, May 27th. The stock was sold at an average price of $64.83, for a total transaction of $617,051.94. Following the completion of the sale, the vice president now directly owns 12,242 shares in the company, valued at approximately $793,648.86. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,595,576 shares of company stock worth $158,624,719. Insiders own 9.00% of the company’s stock.

OLN has been the subject of a number of recent analyst reports. Royal Bank of Canada lowered their price target on shares of Olin from $83.00 to $76.00 and set an “outperform” rating for the company in a report on Wednesday, June 15th. Citigroup lowered shares of Olin from a “buy” rating to a “neutral” rating and lowered their price target for the company from $74.00 to $55.00 in a report on Friday, June 17th. StockNews.com lowered shares of Olin from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 15th. Bank of America lowered their price target on shares of Olin from $81.00 to $72.00 and set a “buy” rating for the company in a report on Tuesday, June 14th. Finally, KeyCorp raised their price target on shares of Olin from $64.00 to $65.00 and gave the company an “overweight” rating in a report on Tuesday, April 5th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.73.

Olin Profile (Get Rating)

Olin Corporation manufactures and distributes chemical products in the United States, Europe, 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, hydrochloric acid, hydrogen, bleach products, potassium hydroxide, chlorinated organics intermediates and solvents, and sodium hypochlorite.

Further Reading

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Institutional Ownership by Quarter for Olin (NYSE:OLN)

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