Frontier Wealth Management LLC Takes $200,000 Position in Olin Corporation (OLN)
Frontier Wealth Management LLC purchased a new position in shares of Olin Corporation (NYSE:OLN) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 6,621 shares of the specialty chemicals company’s stock, valued at approximately $200,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. OLD Mutual Customised Solutions Proprietary Ltd. bought a new stake in shares of Olin Corporation in the first quarter worth $118,000. Acrospire Investment Management LLC boosted its holdings in Olin Corporation by 238.5% during the second quarter. Acrospire Investment Management LLC now owns 4,400 shares of the specialty chemicals company’s stock worth $133,000 after purchasing an additional 3,100 shares during the last quarter. Creative Planning boosted its holdings in Olin Corporation by 130.8% during the second quarter. Creative Planning now owns 5,050 shares of the specialty chemicals company’s stock worth $153,000 after purchasing an additional 2,862 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Olin Corporation by 9.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,126 shares of the specialty chemicals company’s stock worth $185,000 after purchasing an additional 544 shares during the last quarter. Finally, Invictus RG acquired a new position in Olin Corporation during the first quarter worth $253,000. Institutional investors own 92.62% of the company’s stock.
A number of research analysts recently weighed in on OLN shares. SunTrust Banks, Inc. raised their target price on shares of Olin Corporation to $20.00 and gave the company a “buy” rating in a research report on Monday. BidaskClub raised shares of Olin Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, June 14th. UBS AG reissued a “neutral” rating and set a $30.00 price target (down from $33.00) on shares of Olin Corporation in a research report on Sunday, June 25th. Royal Bank Of Canada restated a “buy” rating and set a $35.00 price objective on shares of Olin Corporation in a research note on Tuesday, June 20th. Finally, Cowen and Company set a $39.00 price objective on shares of Olin Corporation and gave the stock a “buy” rating in a research note on Friday, July 28th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $33.78.
Olin Corporation (NYSE OLN) opened at 35.17 on Monday. Olin Corporation has a one year low of $19.62 and a one year high of $35.17. The firm has a market capitalization of $5.85 billion, a P/E ratio of 136.85 and a beta of 1.42. The company’s 50-day moving average is $30.85 and its 200-day moving average is $30.94.
Olin Corporation (NYSE:OLN) last announced its earnings results on Monday, July 31st. The specialty chemicals company reported $0.01 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.15). The firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.51 billion. Olin Corporation had a net margin of 0.72% and a return on equity of 5.80%. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.24 EPS. Equities analysts forecast that Olin Corporation will post $1.10 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, September 11th. Investors of record on Thursday, August 10th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date of this dividend was Tuesday, August 8th. Olin Corporation’s payout ratio is currently 320.00%.
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In other Olin Corporation news, EVP John L. Mcintosh sold 24,000 shares of the stock in a transaction dated 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 sale, the executive vice president now owns 84,391 shares in the company, valued at approximately $2,661,692.14. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Stephen C. Curley sold 5,000 shares of the stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $30.34, for a total transaction of $151,700.00. Following the completion of the sale, the vice president now owns 23,837 shares of the company’s stock, valued at approximately $723,214.58. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 45,070 shares of company stock worth $1,407,151. 2.90% of the stock is owned by corporate insiders.
Olin Corporation Company Profile
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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