Mutual of America Capital Management LLC increased its stake in Olin Co. (NYSE:OLN) by 8.8% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 210,105 shares of the specialty chemicals company’s stock after acquiring an additional 17,058 shares during the quarter. Mutual of America Capital Management LLC owned 0.13% of Olin worth $5,395,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in the company. FMR LLC increased its stake in Olin by 68.3% during the 2nd quarter. FMR LLC now owns 12,699,713 shares of the specialty chemicals company’s stock valued at $364,736,000 after purchasing an additional 5,155,375 shares in the last quarter. Macquarie Group Ltd. increased its stake in Olin by 10.5% during the 2nd quarter. Macquarie Group Ltd. now owns 3,890,639 shares of the specialty chemicals company’s stock valued at $111,739,000 after purchasing an additional 369,392 shares in the last quarter. Victory Capital Management Inc. bought a new stake in Olin during the 3rd quarter valued at $9,256,000. Canada Pension Plan Investment Board increased its stake in Olin by 97.5% during the 3rd quarter. Canada Pension Plan Investment Board now owns 699,817 shares of the specialty chemicals company’s stock valued at $17,971,000 after purchasing an additional 345,500 shares in the last quarter. Finally, Prudential Financial Inc. increased its stake in Olin by 18.0% during the 3rd quarter. Prudential Financial Inc. now owns 1,951,593 shares of the specialty chemicals company’s stock valued at $50,117,000 after purchasing an additional 298,050 shares in the last quarter. Institutional investors own 86.95% of the company’s stock.
NYSE OLN opened at $20.18 on Friday. Olin Co. has a 1 year low of $18.49 and a 1 year high of $38.84. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.81 and a quick ratio of 1.13. The firm has a market capitalization of $3.34 billion, a PE ratio of 11.17, a PEG ratio of 0.31 and a beta of 1.73.
Olin (NYSE:OLN) last posted its earnings results on Monday, October 29th. The specialty chemicals company reported $0.66 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by ($0.09). Olin had a return on equity of 10.70% and a net margin of 11.02%. The firm had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter in the previous year, the company earned $0.31 EPS. The business’s revenue was up 20.4% compared to the same quarter last year. Analysts forecast that Olin Co. will post 1.91 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Friday, November 9th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $0.80 annualized dividend and a dividend yield of 3.96%. Olin’s payout ratio is 98.77%.
A number of analysts have commented on OLN shares. Morgan Stanley set a $38.00 price target on shares of Olin and gave the company a “buy” rating in a research note on Wednesday, September 26th. Standpoint Research started coverage on shares of Olin in a research note on Tuesday, August 28th. They set a “buy” rating and a $20.00 price target for the company. Citigroup decreased their price target on shares of Olin from $33.00 to $26.00 and set a “buy” rating for the company in a research note on Thursday, November 1st. TheStreet lowered shares of Olin from a “b-” rating to a “c+” rating in a research note on Monday, November 12th. Finally, Barclays started coverage on shares of Olin in a research note on Monday, October 8th. They set an “equal weight” rating and a $29.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $31.91.
In other news, Director Scott Mcdougald Sutton bought 15,000 shares of Olin stock in a transaction dated Thursday, November 1st. The stock was purchased at an average price of $21.62 per share, for a total transaction of $324,300.00. Following the purchase, the director now directly owns 15,000 shares in the company, valued at approximately $324,300. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP John Maurice Sampson bought 5,000 shares of Olin stock in a transaction dated Tuesday, November 20th. The stock was purchased at an average price of $19.84 per share, with a total value of $99,200.00. The disclosure for this purchase can be found here. In the last quarter, insiders bought 21,800 shares of company stock valued at $460,844. Company insiders own 1.70% of the company’s stock.
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Olin Company Profile
Olin Corporation manufactures and distributes chemical products in the United States and internationally. It operates through three segments: Chlor Alkali Products and Vinyls; Epoxy; and Winchester. The Chlor Alkali Products and Vinyls segment offers chlorine and caustic soda, ethylene dichloride and vinyl chloride monomers, methyl chloride, methylene chloride, chloroform, carbon tetrachloride, perchloroethylene, trichloroethylene and vinylidene chloride, hydrochloric acid, hydrogen, bleach products, and potassium hydroxide.
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