Vanguard Group Inc. Has $288.99 Million Stock Holdings in Olin Corporation $OLN

Vanguard Group Inc. decreased its stake in Olin Corporation (NYSE:OLN) by 0.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 11,564,216 shares of the specialty chemicals company’s stock after selling 89,388 shares during the quarter. Vanguard Group Inc. owned 0.10% of Olin worth $288,990,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. ARGA Investment Management LP lifted its stake in Olin by 0.9% during the third quarter. ARGA Investment Management LP now owns 60,359 shares of the specialty chemicals company’s stock valued at $1,508,000 after buying an additional 546 shares in the last quarter. Wilmington Savings Fund Society FSB lifted its position in shares of Olin by 9.9% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 6,412 shares of the specialty chemicals company’s stock valued at $160,000 after acquiring an additional 579 shares in the last quarter. FORA Capital LLC boosted its stake in Olin by 2.6% in the 2nd quarter. FORA Capital LLC now owns 24,453 shares of the specialty chemicals company’s stock worth $491,000 after purchasing an additional 625 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al grew its position in Olin by 1.1% during the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 62,678 shares of the specialty chemicals company’s stock worth $1,566,000 after purchasing an additional 700 shares in the last quarter. Finally, Treasurer of the State of North Carolina raised its stake in Olin by 1.5% during the 2nd quarter. Treasurer of the State of North Carolina now owns 53,636 shares of the specialty chemicals company’s stock valued at $1,078,000 after purchasing an additional 793 shares during the period. Institutional investors and hedge funds own 88.67% of the company’s stock.

Olin Price Performance

Shares of Olin stock opened at $25.35 on Friday. The stock has a market capitalization of $2.88 billion, a price-to-earnings ratio of -66.72 and a beta of 1.64. The company has a current ratio of 1.21, a quick ratio of 0.81 and a debt-to-equity ratio of 1.45. Olin Corporation has a 1-year low of $17.66 and a 1-year high of $27.35. The firm has a fifty day simple moving average of $23.19 and a 200-day simple moving average of $22.67.

Olin (NYSE:OLN) last issued its quarterly earnings results on Thursday, January 29th. The specialty chemicals company reported ($0.58) EPS for the quarter, hitting the consensus estimate of ($0.58). Olin had a negative return on equity of 0.48% and a negative net margin of 0.63%.The company had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same period in the previous year, the business posted $0.09 EPS. The company’s revenue for the quarter was down .4% on a year-over-year basis. On average, sell-side analysts expect that Olin Corporation will post 1.38 earnings per share for the current year.

Olin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Tuesday, March 3rd will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, March 3rd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.2%. Olin’s dividend payout ratio is currently -210.53%.

Insider Buying and Selling

In other news, VP R Nichole Sumner sold 4,750 shares of Olin stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $22.49, for a total transaction of $106,827.50. Following the sale, the vice president owned 24,771 shares of the company’s stock, valued at approximately $557,099.79. This trade represents a 16.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Angela M. Castle sold 2,379 shares of the company’s stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $24.25, for a total value of $57,690.75. Following the completion of the transaction, the vice president owned 1,528 shares of the company’s stock, valued at $37,054. The trade was a 60.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 99,379 shares of company stock valued at $2,238,298 over the last three months. 1.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on OLN. Wall Street Zen downgraded Olin from a “hold” rating to a “sell” rating in a report on Saturday, January 10th. Morgan Stanley reduced their price target on shares of Olin from $20.00 to $18.00 and set an “underweight” rating for the company in a research report on Monday, February 2nd. KeyCorp lowered their price objective on shares of Olin from $29.00 to $26.00 and set an “overweight” rating on the stock in a research report on Monday, February 2nd. Truist Financial cut their target price on shares of Olin from $23.00 to $20.00 and set a “hold” rating for the company in a research report on Monday, February 2nd. Finally, BMO Capital Markets dropped their price target on shares of Olin from $25.00 to $24.00 and set a “market perform” rating on the stock in a research note on Tuesday, February 3rd. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus 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.