Rhumbline Advisers Trims Holdings in Olin Co. (OLN)

Rhumbline Advisers trimmed its stake in Olin Co. (NYSE:OLN) by 4.7% in the first quarter, HoldingsChannel.com reports. The firm owned 388,657 shares of the specialty chemicals company’s stock after selling 18,997 shares during the period. Rhumbline Advisers’ holdings in Olin were worth $8,994,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of OLN. Renaissance Technologies LLC boosted its position in shares of Olin by 33.0% in the third quarter. Renaissance Technologies LLC now owns 117,577 shares of the specialty chemicals company’s stock worth $3,019,000 after buying an additional 29,177 shares during the period. Vanguard Group Inc lifted its stake in shares of Olin by 1.3% in the third quarter. Vanguard Group Inc now owns 15,522,700 shares of the specialty chemicals company’s stock worth $398,623,000 after acquiring an additional 198,463 shares in the last quarter. Meeder Asset Management Inc. lifted its stake in shares of Olin by 57.2% in the fourth quarter. Meeder Asset Management Inc. now owns 4,729 shares of the specialty chemicals company’s stock worth $95,000 after acquiring an additional 1,721 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Olin by 101.1% in the fourth quarter. Nisa Investment Advisors LLC now owns 35,000 shares of the specialty chemicals company’s stock worth $704,000 after acquiring an additional 17,600 shares in the last quarter. Finally, Lavaca Capital LLC acquired a new position in shares of Olin in the fourth quarter worth about $29,000. Institutional investors and hedge funds own 87.49% of the company’s stock.

In other news, Director Scott Mcdougald Sutton acquired 7,000 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were purchased at an average price of $21.02 per share, for a total transaction of $147,140.00. Following the completion of the purchase, the director now directly owns 22,000 shares of the company’s stock, valued at approximately $462,440. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Brett A. Flaugher sold 12,500 shares of the company’s stock in a transaction that occurred on Friday, February 22nd. The shares were sold at an average price of $26.53, for a total value of $331,625.00. Following the sale, the vice president now owns 40,629 shares in the company, valued at approximately $1,077,887.37. The disclosure for this sale can be found here. Corporate insiders own 1.90% of the company’s stock.

Several research analysts recently commented on OLN shares. Alembic Global Advisors started coverage on Olin in a research note on Monday, April 22nd. They issued a “buy” rating and a $32.00 price target on the stock. ValuEngine upgraded Olin from a “sell” rating to a “hold” rating in a research note on Wednesday, February 13th. Nomura upgraded Olin from a “reduce” rating to a “neutral” rating and boosted their price target for the stock from $22.00 to $25.00 in a research note on Monday, April 15th. Cowen reiterated an “outperform” rating and issued a $32.00 price target on shares of Olin in a research note on Wednesday, February 6th. Finally, KeyCorp started coverage on Olin in a research note on Monday, January 28th. They issued an “overweight” rating and a $30.00 price target on the stock. Two analysts have rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company. Olin has an average rating of “Hold” and a consensus price target of $29.33.

Shares of NYSE OLN opened at $22.05 on Tuesday. Olin Co. has a 52-week low of $17.87 and a 52-week high of $34.42. The company has a market cap of $3.53 billion, a price-to-earnings ratio of 12.60, a PEG ratio of 0.73 and a beta of 1.53. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.85 and a current ratio of 1.48.

Olin (NYSE:OLN) last announced its quarterly earnings data on Tuesday, April 30th. The specialty chemicals company reported $0.28 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.04). Olin had a net margin of 5.14% and a return on equity of 11.12%. The firm had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.69 billion. During the same quarter in the previous year, the company earned $0.12 EPS. The company’s quarterly revenue was down 9.2% compared to the same quarter last year. As a group, equities research analysts predict that Olin Co. will post 1.61 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 10th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.63%. The ex-dividend date is Thursday, May 9th. Olin’s payout ratio is currently 45.71%.

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About Olin

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, potassium hydroxide, chlorinated organics intermediates and solvents, and sodium hypochlorite.The Epoxy segment provides allyl chloride and epichlorohydrin, as well as acetone, bisphenol, cumene, and phenol for use in resins and other plastic materials, water purification, and pesticides, as well as for the manufacturers of polymers; liquid and solid epoxy resins that are used in adhesives, paints and coatings, composites, and flooring; and differentiated epoxy resins for use in electrical laminates, paints and coatings, wind blades, electronics, and construction, as well as offers additives.

Read More: How Investors Use a Balance Sheet

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Institutional Ownership by Quarter for Olin (NYSE:OLN)

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