Olin Corporation (OLN) Stake Held by TD Asset Management Inc.
TD Asset Management Inc. held its position in Olin Corporation (NYSE:OLN) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,143 shares of the specialty chemicals company’s stock at the end of the second quarter. TD Asset Management Inc.’s holdings in Olin Corporation were worth $519,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in Olin Corporation by 7,604.7% in the first quarter. BlackRock Inc. now owns 19,895,613 shares of the specialty chemicals company’s stock worth $653,967,000 after buying an additional 19,637,387 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Olin Corporation by 6.5% in the first quarter. Vanguard Group Inc. now owns 14,410,405 shares of the specialty chemicals company’s stock worth $473,671,000 after buying an additional 878,440 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Olin Corporation by 51.8% in the first quarter. Bank of New York Mellon Corp now owns 3,176,770 shares of the specialty chemicals company’s stock worth $104,421,000 after buying an additional 1,083,395 shares during the last quarter. Macquarie Group Ltd. boosted its stake in shares of Olin Corporation by 5.0% in the first quarter. Macquarie Group Ltd. now owns 3,051,997 shares of the specialty chemicals company’s stock worth $100,319,000 after buying an additional 145,929 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in shares of Olin Corporation by 4.0% in the first quarter. Ameriprise Financial Inc. now owns 2,146,387 shares of the specialty chemicals company’s stock worth $70,552,000 after buying an additional 83,276 shares during the last quarter. Hedge funds and other institutional investors own 92.62% of the company’s stock.
Shares of Olin Corporation (OLN) opened at 32.06 on Thursday. Olin Corporation has a 52 week low of $18.24 and a 52 week high of $33.88. The company’s 50 day moving average is $30.44 and its 200-day moving average is $30.85. The stock has a market capitalization of $5.33 billion, a PE ratio of 124.75 and a beta of 1.43.
Olin Corporation (NYSE:OLN) last announced its earnings results on Monday, July 31st. The specialty chemicals company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by $0.15. Olin Corporation had a net margin of 0.72% and a return on equity of 5.80%. The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.51 billion. During the same quarter last year, the business earned $0.24 EPS. The company’s quarterly revenue was up 11.9% on a year-over-year basis. On average, equities analysts predict that Olin Corporation will post $1.14 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Thursday, August 10th will be given a dividend of $0.20 per share. The ex-dividend date is Tuesday, August 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.50%. Olin Corporation’s dividend payout ratio (DPR) is 320.00%.
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OLN has been the topic of a number of recent research reports. BidaskClub upgraded shares of Olin Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, June 21st. Tudor Pickering initiated coverage on shares of Olin Corporation in a research note on Friday, May 12th. They set a “buy” rating and a $37.00 price target on the stock. UBS AG restated a “neutral” rating and set a $30.00 price target (down from $33.00) on shares of Olin Corporation in a research note on Sunday, June 25th. Cowen and Company restated an “outperform” rating and set a $39.00 price target (up from $37.00) on shares of Olin Corporation in a research note on Thursday, June 22nd. Finally, Royal Bank Of Canada restated a “buy” rating and set a $35.00 price target on shares of Olin Corporation in a research note on Tuesday, May 16th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $32.75.
In other Olin Corporation news, VP Stephen C. Curley sold 5,000 shares of the firm’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $30.34, for a total value of $151,700.00. Following the transaction, the vice president now owns 23,837 shares in the company, valued at approximately $723,214.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John L. Mcintosh sold 24,000 shares of the firm’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $31.54, for a total value of $756,960.00. Following the completion of the transaction, the executive vice president now owns 84,391 shares in the company, valued at approximately $2,661,692.14. The disclosure for this sale can be found here. Insiders have sold a total of 45,070 shares of company stock worth $1,407,151 in the last quarter. Insiders own 2.90% of the company’s stock.
About Olin Corporation
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, hydrochloric acid, hydrogen, bleach products and potassium hydroxide.
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