Olin Corporation $OLN Shares Sold by Rhumbline Advisers

by · The Cerbat Gem

Rhumbline Advisers lowered its position in Olin Corporation (NYSE:OLN – Free Report) by 8.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 298,000 shares of the specialty chemicals company’s stock after selling 26,696 shares during the quarter. Rhumbline Advisers owned approximately 0.26% of Olin worth $7,223,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hotchkis & Wiley Capital Management LLC lifted its stake in Olin by 11.5% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 12,191,163 shares of the specialty chemicals company’s stock valued at $295,514,000 after buying an additional 1,259,795 shares during the last quarter. Vanguard Group Inc. lifted its stake in Olin by 2.1% in the first quarter. Vanguard Group Inc. now owns 11,748,584 shares of the specialty chemicals company’s stock valued at $284,786,000 after buying an additional 245,604 shares during the last quarter. Fuller & Thaler Asset Management Inc. lifted its stake in Olin by 40.5% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 6,384,744 shares of the specialty chemicals company’s stock valued at $154,766,000 after buying an additional 1,840,900 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Olin by 14.3% in the first quarter. Dimensional Fund Advisors LP now owns 4,546,352 shares of the specialty chemicals company’s stock valued at $110,204,000 after buying an additional 569,483 shares during the last quarter. Finally, Yacktman Asset Management LP lifted its stake in Olin by 3.1% in the first quarter. Yacktman Asset Management LP now owns 4,020,243 shares of the specialty chemicals company’s stock valued at $97,451,000 after buying an additional 122,247 shares during the last quarter. Hedge funds and other institutional investors own 88.67% of the company’s stock.

Analysts Set New Price Targets

OLN has been the subject of a number of research reports. Mizuho reduced their price objective on Olin from $24.00 to $23.00 and set a “neutral” rating for the company in a research note on Tuesday, July 29th. Royal Bank Of Canada cut their price target on Olin from $25.00 to $23.00 and set a “sector perform” rating for the company in a research note on Thursday, July 3rd. Citigroup cut their price target on Olin from $26.00 to $25.00 and set a “buy” rating for the company in a research note on Tuesday, July 8th. Wells Fargo & Company cut their price target on Olin from $22.00 to $21.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 30th. Finally, Wall Street Zen upgraded Olin from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. Three equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Olin presently has an average rating of “Hold” and an average target price of $25.57.

Get Our Latest Analysis on Olin

Olin Trading Up 5.8%

NYSE:OLN opened at $27.00 on Friday. The stock has a fifty day moving average price of $21.70 and a two-hundred day moving average price of $21.77. The stock has a market capitalization of $3.10 billion, a price-to-earnings ratio of -225.00 and a beta of 1.61. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.88 and a current ratio of 1.48. Olin Corporation has a 1 year low of $17.66 and a 1 year high of $49.60.

Olin (NYSE:OLN – Get Free Report) last released its quarterly earnings data on Monday, July 28th. The specialty chemicals company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.04). The business had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.68 billion. Olin had a negative return on equity of 0.13% and a negative net margin of 0.21%.The company’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.62 EPS. As a group, sell-side analysts anticipate that Olin Corporation will post 1.38 earnings per share for the current fiscal year.

Olin Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Thursday, August 28th will be given a $0.20 dividend. The ex-dividend date is Thursday, August 28th. This represents a $0.80 annualized dividend and a yield of 3.0%. Olin’s dividend payout ratio is presently -666.67%.

Insider Transactions at Olin

In other Olin news, VP Teresa M. Vermillion sold 6,000 shares of the stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $21.11, for a total value of $126,660.00. Following the completion of the transaction, the vice president owned 17,199 shares in the company, valued at approximately $363,070.89. This represents a 25.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.60% of the company’s stock.

Olin Profile

(Free Report)

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.

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