Harbor Capital Advisors Inc. Boosts Holdings in Olin Co. (NYSE:OLN)

Harbor Capital Advisors Inc. increased its holdings in Olin Co. (NYSE:OLN) by 344.3% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 40,760 shares of the specialty chemicals company’s stock after purchasing an additional 31,587 shares during the period. Harbor Capital Advisors Inc.’s holdings in Olin were worth $1,922,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in OLN. LRI Investments LLC bought a new stake in Olin in the first quarter worth $28,000. EverSource Wealth Advisors LLC boosted its holdings in Olin by 4,375.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 537 shares of the specialty chemicals company’s stock valued at $32,000 after acquiring an additional 525 shares during the period. Sandy Spring Bank grew its position in Olin by 145.6% during the 4th quarter. Sandy Spring Bank now owns 614 shares of the specialty chemicals company’s stock worth $33,000 after acquiring an additional 364 shares during the last quarter. Fifth Third Bancorp increased its stake in Olin by 30.0% in the 1st quarter. Fifth Third Bancorp now owns 858 shares of the specialty chemicals company’s stock worth $50,000 after purchasing an additional 198 shares during the period. Finally, Quarry LP bought a new stake in Olin in the fourth quarter valued at approximately $50,000. Institutional investors own 88.67% of the company’s stock.

Olin Stock Down 1.2 %

Olin stock traded down $0.50 during trading hours on Wednesday, hitting $41.05. The stock had a trading volume of 607,739 shares, compared to its average volume of 1,119,114. The stock’s 50-day moving average price is $48.37 and its 200-day moving average price is $52.42. Olin Co. has a 12-month low of $40.41 and a 12-month high of $60.60. The company has a quick ratio of 0.82, a current ratio of 1.43 and a debt-to-equity ratio of 1.29. The stock has a market capitalization of $4.90 billion, a P/E ratio of 14.95, a price-to-earnings-growth ratio of 0.96 and a beta of 1.44.

Olin (NYSE:OLN) last announced its quarterly earnings data on Thursday, July 25th. The specialty chemicals company reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.08). The firm had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.71 billion. Olin had a return on equity of 11.73% and a net margin of 4.26%. Olin’s revenue was down 3.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.13 earnings per share. Equities research analysts anticipate that Olin Co. will post 1.61 EPS for the current fiscal year.

Olin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Thursday, August 8th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, August 8th. This represents a $0.80 annualized dividend and a dividend yield of 1.95%. Olin’s dividend payout ratio (DPR) is presently 28.78%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on OLN shares. Wells Fargo & Company lowered their price target on shares of Olin from $50.00 to $48.00 and set an “equal weight” rating for the company in a report on Monday, July 29th. Barclays lowered their price target on Olin from $59.00 to $49.00 and set an “equal weight” rating for the company in a research report on Monday, July 29th. Bank of America lowered Olin from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $62.00 to $51.00 in a research report on Monday, July 29th. Citigroup upped their target price on Olin from $63.00 to $67.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Finally, KeyCorp cut their price target on shares of Olin from $69.00 to $62.00 and set an “overweight” rating on the stock in a report on Monday, July 29th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $53.86.

Olin 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.