Thrivent Financial for Lutherans Sells 199,522 Shares of Olin Corporation $OLN

Thrivent Financial for Lutherans lowered its holdings in Olin Corporation (NYSE:OLN) by 11.5% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 1,534,140 shares of the specialty chemicals company’s stock after selling 199,522 shares during the period. Thrivent Financial for Lutherans’ holdings in Olin were worth $30,821,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Hotchkis & Wiley Capital Management LLC raised its holdings in shares of Olin by 11.5% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 12,191,163 shares of the specialty chemicals company’s stock valued at $295,514,000 after acquiring an additional 1,259,795 shares in the last quarter. Vanguard Group Inc. increased its position in Olin by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 11,748,584 shares of the specialty chemicals company’s stock valued at $284,786,000 after purchasing an additional 245,604 shares during the period. Fuller & Thaler Asset Management Inc. raised its holdings in Olin by 40.5% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 6,384,744 shares of the specialty chemicals company’s stock worth $154,766,000 after purchasing an additional 1,840,900 shares in the last quarter. State Street Corp raised its holdings in Olin by 1.1% in the 2nd quarter. State Street Corp now owns 4,830,406 shares of the specialty chemicals company’s stock worth $97,043,000 after purchasing an additional 50,309 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Olin by 14.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,546,352 shares of the specialty chemicals company’s stock worth $110,204,000 after purchasing an additional 569,483 shares during the period. 88.67% of the stock is owned by hedge funds and other institutional investors.

Olin Stock Performance

Shares of NYSE OLN opened at $21.53 on Tuesday. The stock has a market cap of $2.46 billion, a PE ratio of 46.80, a price-to-earnings-growth ratio of 7.28 and a beta of 1.66. Olin Corporation has a 1 year low of $17.66 and a 1 year high of $36.85. The firm has a fifty day moving average price of $21.44 and a 200-day moving average price of $21.73. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.56 and a quick ratio of 0.89.

Olin (NYSE:OLN) last issued its earnings results on Monday, October 27th. The specialty chemicals company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.31. The company had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.74 billion. Olin had a net margin of 0.79% and a return on equity of 3.36%. Olin’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.21) EPS. Equities analysts anticipate that Olin Corporation will post 1.38 earnings per share for the current fiscal year.

Olin Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 12th. Investors of record on Friday, November 28th were given a dividend of $0.20 per share. The ex-dividend date was Friday, November 28th. This represents a $0.80 annualized dividend and a dividend yield of 3.7%. Olin’s dividend payout ratio (DPR) is currently 173.91%.

Insider Transactions at Olin

In related news, VP Teresa M. Vermillion sold 4,500 shares of Olin stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $20.86, for a total transaction of $93,870.00. Following the sale, the vice president owned 17,199 shares of the company’s stock, valued at approximately $358,771.14. This trade represents a 20.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

OLN has been the topic of several research analyst reports. Bank of America boosted their price target on shares of Olin from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, October 14th. KeyCorp reduced their target price on Olin from $30.00 to $29.00 and set an “overweight” rating on the stock in a report on Wednesday, October 29th. Weiss Ratings restated a “sell (d+)” rating on shares of Olin in a research note on Wednesday, October 8th. Royal Bank Of Canada set a $26.00 price target on Olin and gave the company a “sector perform” rating in a research report on Tuesday, October 14th. Finally, Fermium Researc raised Olin to a “strong-buy” rating in a research report on Thursday, September 25th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $25.00.

Olin Profile

Olin Corporation manufactures and distributes chemical products in the United States, Europe, Asia Pacific, Latin America, and Canada. 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, and chlorinated organics intermediates and solvents.