Envestnet Asset Management Inc. boosted its position in shares of Olin Co. (NYSE:OLN) by 75.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,879 shares of the company’s stock after buying an additional 5,553 shares during the period. Envestnet Asset Management Inc.’s holdings in Olin were worth $328,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. Creative Planning raised its stake in Olin by 22.1% in the third quarter. Creative Planning now owns 6,084 shares of the company’s stock worth $125,000 after buying an additional 1,103 shares during the period. First Interstate Bank raised its stake in Olin by 1.6% in the fourth quarter. First Interstate Bank now owns 6,300 shares of the company’s stock worth $161,000 after buying an additional 100 shares during the period. Tyers Asset Management LLC bought a new stake in Olin during the fourth quarter worth about $187,000. Flinton Capital Management LLC bought a new stake in Olin during the fourth quarter worth about $227,000. Finally, Harbor Advisors LLC bought a new stake in Olin during the fourth quarter worth about $256,000.
Shares of Olin Co. (NYSE:OLN) opened at 32.77 on Friday. The stock’s market capitalization is $5.42 billion. Olin Co. has a 52-week low of $15.79 and a 52-week high of $33.35. The stock has a 50 day moving average of $31.49 and a 200-day moving average of $25.61.
Olin (NYSE:OLN) last announced its quarterly earnings data on Tuesday, January 31st. The company reported $0.31 EPS for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.22. The firm earned $1.39 billion during the quarter, compared to analyst estimates of $1.36 billion. Olin had a positive return on equity of 7.56% and a negative net margin of 0.07%. The company’s revenue was down 4.6% on a year-over-year basis. During the same period last year, the company earned ($0.37) earnings per share. On average, equities research analysts predict that Olin Co. will post $1.39 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 10th. Investors of record on Friday, February 10th were given a $0.20 dividend. The ex-dividend date was Wednesday, February 8th. This represents a $0.80 dividend on an annualized basis and a yield of 2.44%. Olin’s payout ratio is -2,665.78%.
A number of analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of Olin from a “buy” rating to a “sell” rating in a research report on Tuesday, March 14th. Cowen and Company increased their price target on shares of Olin from $32.00 to $37.00 and gave the stock an “outperform” rating in a research report on Friday, February 10th. Monness Crespi & Hardt lowered shares of Olin from a “buy” rating to a “neutral” rating and set a $28.00 price target for the company. in a research report on Thursday, February 2nd. They noted that the move was a valuation call. Finally, Longbow Research raised shares of Olin from an “underperform” rating to a “neutral” rating in a research report on Thursday, February 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $28.17.
In related news, VP Stephen C. Curley sold 2,000 shares of Olin stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $30.95, for a total value of $61,900.00. Following the completion of the sale, the vice president now directly owns 18,837 shares in the company, valued at $583,005.15. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Thomas J. Okeefe sold 10,000 shares of Olin stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $32.26, for a total value of $322,600.00. Following the completion of the sale, the senior vice president now owns 59,706 shares of the company’s stock, valued at $1,926,115.56. The disclosure for this sale can be found here. Over the last quarter, insiders sold 27,500 shares of company stock valued at $857,330. Corporate insiders own 2.80% of the company’s stock.
Olin Corporation is a manufacturer and distributor of chemical products, and ammunition. The Company operates through three segments: Chlor Alkali Products and Vinyls, Epoxy and Winchester. The Chlor Alkali Products and Vinyls segment manufactures and sells chlorine and caustic soda, ethylene dichloride and vinyl chloride monomer, methyl chloride, methylene chloride, chloroform, carbon tetrachloride, perchloroethylene, trichloroethylene and vinylidene chloride, hydrogen, bleach products and potassium hydroxide.
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