Olin Corp. (OLN) Shares Bought by Northpointe Capital LLC
Northpointe Capital LLC increased its position in Olin Corp. (NYSE:OLN) by 40.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 505,179 shares of the company’s stock after buying an additional 146,298 shares during the period. Olin Corp. makes up approximately 1.5% of Northpointe Capital LLC’s portfolio, making the stock its 11th largest position. Northpointe Capital LLC owned about 0.31% of Olin Corp. worth $12,549,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. LS Investment Advisors LLC raised its stake in shares of Olin Corp. by 8.9% in the second quarter. LS Investment Advisors LLC now owns 9,915 shares of the company’s stock worth $246,000 after buying an additional 813 shares in the last quarter. Banced Corp acquired a new position in shares of Olin Corp. during the second quarter valued at about $267,000. Capstone Asset Management Co. raised its position in shares of Olin Corp. by 4.8% in the second quarter. Capstone Asset Management Co. now owns 13,395 shares of the company’s stock valued at $333,000 after buying an additional 610 shares during the period. Nisa Investment Advisors LLC raised its position in shares of Olin Corp. by 1,544.4% in the second quarter. Nisa Investment Advisors LLC now owns 14,800 shares of the company’s stock valued at $368,000 after buying an additional 13,900 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of Olin Corp. during the first quarter valued at about $376,000. 92.85% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Olin Corp. (NYSE:OLN) traded up 0.78% during mid-day trading on Monday, reaching $20.68. 1,969,751 shares of the company’s stock traded hands. Olin Corp. has a 12 month low of $12.29 and a 12 month high of $26.46. The company has a 50 day moving average of $20.25 and a 200 day moving average of $21.13. The company’s market cap is $3.42 billion.
Olin Corp. (NYSE:OLN) last issued its earnings results on Tuesday, August 2nd. The company reported $0.24 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by $0.07. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.47 billion. Olin Corp. had a positive return on equity of 4.25% and a negative net margin of 2.05%. The firm’s revenue was up 154.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.32 EPS. Analysts expect that Olin Corp. will post $1.27 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Wednesday, August 10th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.87%. The ex-dividend date was Monday, August 8th. Olin Corp.’s payout ratio is -150.94%.
Several research analysts have recently issued reports on the stock. Cowen and Company reduced their target price on shares of Olin Corp. from $31.00 to $29.00 and set an “outperform” rating on the stock in a research note on Friday, July 29th. Zacks Investment Research raised shares of Olin Corp. from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research note on Wednesday, July 6th. Nomura reaffirmed a “buy” rating on shares of Olin Corp. in a research note on Tuesday, July 12th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $28.00 target price (up previously from $25.00) on shares of Olin Corp. in a research note on Monday, June 13th. Finally, RBC Capital Markets reaffirmed a “buy” rating and issued a $24.00 target price (down previously from $28.00) on shares of Olin Corp. in a research note on Friday, July 22nd. Two analysts have rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $23.11.
In other Olin Corp. news, EVP John L. Mcintosh sold 10,000 shares of the business’s stock in a transaction dated Tuesday, August 23rd. The stock was sold at an average price of $21.59, for a total transaction of $215,900.00. Following the completion of the transaction, the executive vice president now owns 60,391 shares of the company’s stock, valued at $1,303,841.69. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 2.80% of the company’s stock.
About Olin Corp.
Olin Corporation is a manufacturer and distributor of chemical products, and ammunition. The Company operates through three segments: Chlor Alkali Products and Vinyls, Epoxy and Winchester. The Chlor Alkali Products and Vinyls segment manufactures and sells chlorine and caustic soda, ethylene dichloride and vinyl chloride monomer, methyl chloride, methylene chloride, chloroform, carbon tetrachloride, perchloroethylene, trichloroethylene and vinylidene chloride, hydrogen, bleach products and potassium hydroxide.
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