Olin Co. (OLN) Stake Decreased by American International Group Inc.

American International Group Inc. decreased its position in shares of Olin Co. (NYSE:OLN) by 3.3% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 328,918 shares of the specialty chemicals company’s stock after selling 11,140 shares during the period. American International Group Inc.’s holdings in Olin were worth $7,611,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of OLN. FMR LLC increased its holdings in shares of Olin by 34.8% during the fourth quarter. FMR LLC now owns 12,378,867 shares of the specialty chemicals company’s stock worth $248,939,000 after buying an additional 3,196,273 shares in the last quarter. Norges Bank acquired a new stake in shares of Olin during the fourth quarter worth approximately $39,321,000. Oregon Public Employees Retirement Fund increased its holdings in shares of Olin by 1,911.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,332,529 shares of the specialty chemicals company’s stock valued at $66,000 after purchasing an additional 1,266,267 shares in the last quarter. Deprince Race & Zollo Inc. acquired a new stake in shares of Olin in the fourth quarter valued at approximately $20,040,000. Finally, Beaconlight Capital LLC acquired a new stake in shares of Olin in the fourth quarter valued at approximately $18,771,000. 87.49% of the stock is owned by institutional investors.

In other Olin news, Director Scott Mcdougald Sutton acquired 7,000 shares of Olin stock in a transaction on Friday, May 3rd. The shares were purchased at an average cost of $21.02 per share, with a total value of $147,140.00. Following the completion of the purchase, the director now owns 22,000 shares in the company, valued at $462,440. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP John L. Mcintosh sold 10,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $21.74, for a total transaction of $228,270.00. Following the completion of the transaction, the executive vice president now directly owns 100,812 shares in the company, valued at $2,191,652.88. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by company insiders.

OLN has been the subject of a number of research reports. KeyCorp initiated coverage on shares of Olin in a report on Monday, January 28th. They issued an “overweight” rating and a $30.00 price target for the company. Nomura lowered shares of Olin from a “neutral” rating to a “reduce” rating and lowered their price target for the company from $23.00 to $22.00 in a report on Wednesday, January 30th. Cowen reissued an “outperform” rating and issued a $32.00 price target on shares of Olin in a report on Wednesday, February 6th. ValuEngine raised shares of Olin from a “sell” rating to a “hold” rating in a report on Wednesday, February 13th. Finally, Alembic Global Advisors initiated coverage on shares of Olin in a report on Monday, April 22nd. They issued a “buy” rating and a $32.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $29.33.

Shares of Olin stock opened at $22.33 on Thursday. Olin Co. has a fifty-two week low of $17.87 and a fifty-two week high of $33.94. The company has a market capitalization of $3.64 billion, a P/E ratio of 12.76, a P/E/G ratio of 0.73 and a beta of 1.53. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.48 and a quick ratio of 0.85.

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 analysts’ consensus estimates of $0.32 by ($0.04). Olin had a net margin of 5.14% and a return on equity of 11.12%. The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.69 billion. During the same period in the previous year, the business posted $0.12 earnings per share. Olin’s revenue was down 9.2% compared to the same quarter last year. Equities analysts predict that Olin Co. will post 1.61 earnings per share for the current fiscal year.

The firm 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 $0.20 dividend. The ex-dividend date is Thursday, May 9th. This represents a $0.80 dividend on an annualized basis and a yield of 3.58%. Olin’s payout ratio is presently 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.

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Institutional Ownership by Quarter for Olin (NYSE:OLN)

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