4,408 Shares in Olin Co. (NYSE:OLN) Acquired by Chesapeake Capital Corp IL

Chesapeake Capital Corp IL acquired a new stake in Olin Co. (NYSE:OLN) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 4,408 shares of the specialty chemicals company’s stock, valued at approximately $259,000.

Several other institutional investors and hedge funds have also bought and sold shares of OLN. Fifth Third Bancorp lifted its position in shares of Olin by 30.0% during the 1st quarter. Fifth Third Bancorp now owns 858 shares of the specialty chemicals company’s stock valued at $50,000 after buying an additional 198 shares during the last quarter. Louisiana State Employees Retirement System lifted its holdings in Olin by 0.6% during the first quarter. Louisiana State Employees Retirement System now owns 34,600 shares of the specialty chemicals company’s stock valued at $2,034,000 after purchasing an additional 200 shares during the last quarter. Ritholtz Wealth Management boosted its position in Olin by 1.5% during the fourth quarter. Ritholtz Wealth Management now owns 16,389 shares of the specialty chemicals company’s stock worth $884,000 after purchasing an additional 238 shares during the period. Financial Advocates Investment Management increased its stake in shares of Olin by 5.5% in the fourth quarter. Financial Advocates Investment Management now owns 5,086 shares of the specialty chemicals company’s stock worth $274,000 after purchasing an additional 266 shares in the last quarter. Finally, Sandy Spring Bank raised its position in shares of Olin by 145.6% in the fourth quarter. Sandy Spring Bank now owns 614 shares of the specialty chemicals company’s stock valued at $33,000 after purchasing an additional 364 shares during the period. 88.67% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

OLN has been the subject of several analyst reports. Royal Bank of Canada cut their price objective on shares of Olin from $69.00 to $63.00 and set an “outperform” rating for the company in a report on Monday, April 29th. Wells Fargo & Company boosted their price objective on Olin from $56.00 to $60.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 3rd. Stifel Nicolaus raised their target price on Olin from $68.00 to $69.00 and gave the stock a “buy” rating in a research note on Monday, April 29th. KeyCorp decreased their price target on Olin from $73.00 to $69.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 10th. Finally, Citigroup increased their price target on shares of Olin from $63.00 to $67.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $59.27.

Olin Price Performance

Shares of NYSE OLN traded down $1.44 during mid-day trading on Friday, reaching $48.11. 906,753 shares of the company were exchanged, compared to its average volume of 1,339,852. The stock has a market capitalization of $5.75 billion, a PE ratio of 17.31, a PEG ratio of 0.31 and a beta of 1.44. The company has a quick ratio of 0.80, a current ratio of 1.38 and a debt-to-equity ratio of 1.22. Olin Co. has a 52 week low of $41.71 and a 52 week high of $60.60. The company’s 50 day moving average price is $50.58 and its 200 day moving average price is $52.91.

Olin (NYSE:OLN) last issued its quarterly earnings results on Friday, April 26th. The specialty chemicals company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.02. The firm had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.65 billion. Olin had a return on equity of 14.47% and a net margin of 5.32%. The company’s revenue was down 11.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.16 earnings per share. Sell-side analysts forecast that Olin Co. will post 3.32 earnings per share for the current fiscal year.

Olin Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Thursday, May 9th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.66%. The ex-dividend date of this dividend was Wednesday, May 8th. Olin’s dividend payout ratio is currently 28.78%.

Olin Company Profile

Olin Corporation manufactures and distributes chemical products in the United States, Europe, Asia Pacific, Latin America, and Canada. 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, hydrochloric acid, hydrogen, bleach products, potassium hydroxide, and chlorinated organics intermediates and solvents.