Robotti Robert Has $893,000 Position in Olin Corporation $OLN

Robotti Robert reduced its stake in shares of Olin Corporation (NYSE:OLN) by 68.5% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 35,718 shares of the specialty chemicals company’s stock after selling 77,674 shares during the period. Robotti Robert’s holdings in Olin were worth $893,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Olin in the first quarter worth about $32,000. Bessemer Group Inc. grew its position in shares of Olin by 712.7% in the third quarter. Bessemer Group Inc. now owns 1,341 shares of the specialty chemicals company’s stock valued at $34,000 after purchasing an additional 1,176 shares in the last quarter. Evelyn Partners Investment Management LLP increased its position in shares of Olin by 6,360.0% during the second quarter. Evelyn Partners Investment Management LLP now owns 1,615 shares of the specialty chemicals company’s stock valued at $32,000 after buying an additional 1,590 shares during the period. SJS Investment Consulting Inc. purchased a new stake in Olin in the 3rd quarter worth approximately $49,000. Finally, HHM Wealth Advisors LLC boosted its stake in Olin by 30.5% during the second quarter. HHM Wealth Advisors LLC now owns 4,126 shares of the specialty chemicals company’s stock valued at $83,000 after buying an additional 965 shares during the period. Hedge funds and other institutional investors own 88.67% of the company’s stock.

Olin Price Performance

Shares of Olin stock opened at $24.02 on Thursday. The company has a quick ratio of 0.81, a current ratio of 1.21 and a debt-to-equity ratio of 1.45. Olin Corporation has a 52 week low of $17.66 and a 52 week high of $27.35. The stock’s 50-day simple moving average is $23.03 and its 200-day simple moving average is $22.61. The company has a market capitalization of $2.73 billion, a price-to-earnings ratio of -63.22 and a beta of 1.64.

Olin (NYSE:OLN) last announced its quarterly earnings results on Thursday, January 29th. The specialty chemicals company reported ($0.58) EPS for the quarter, meeting analysts’ consensus estimates of ($0.58). The company had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.61 billion. Olin had a negative return on equity of 0.48% and a negative net margin of 0.63%.The firm’s revenue was down .4% on a year-over-year basis. During the same period in the prior year, the company earned $0.09 earnings per share. As a group, analysts expect that Olin Corporation will post 1.38 earnings per share for the current fiscal year.

Olin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Tuesday, March 3rd will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.3%. The ex-dividend date is Tuesday, March 3rd. Olin’s dividend payout ratio is presently -210.53%.

Insider Activity

In other Olin news, VP Angela M. Castle sold 2,379 shares of the stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $24.25, for a total value of $57,690.75. Following the sale, the vice president owned 1,528 shares in the company, valued at $37,054. This trade represents a 60.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Todd A. Slater sold 92,250 shares of Olin stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $22.48, for a total value of $2,073,780.00. Following the sale, the chief financial officer directly owned 44,291 shares of the company’s stock, valued at approximately $995,661.68. This trade represents a 67.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 99,379 shares of company stock valued at $2,238,298. 1.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms recently commented on OLN. Royal Bank Of Canada reduced their target price on Olin from $24.00 to $21.00 and set a “sector perform” rating on the stock in a research note on Monday, February 2nd. Wall Street Zen downgraded Olin from a “hold” rating to a “sell” rating in a report on Saturday, January 10th. Mizuho upped their price objective on shares of Olin from $22.00 to $24.00 and gave the stock a “neutral” rating in a report on Tuesday, February 17th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $26.00 price target on shares of Olin in a research report on Tuesday, February 10th. Finally, KeyCorp cut their price objective on shares of Olin from $29.00 to $26.00 and set an “overweight” rating on the stock in a report on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Olin currently has an average rating of “Hold” and an average price target of $23.20.

Olin Profile

Olin Corporation is a diversified manufacturer specializing in chemical products and ammunition. The company’s core business activities encompass the production and distribution of chlor-alkali products, epoxy resins and derivatives, and small-caliber ammunition under the Winchester brand. Olin’s chemical operations supply chlorine, caustic soda and related co-products to a wide range of end markets, including water treatment, pulp and paper, pharmaceuticals and general industrial applications.

In its Chlor Alkali Products & Vinyls segment, Olin operates multiple manufacturing facilities that produce chlorine and sodium hydroxide, along with vinyl chloride monomer and polyvinyl chloride (PVC) compounds.