Cornerstone Capital Management Holdings LLC. lessened its position in Olin Co. (NYSE:OLN) by 20.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 797,502 shares of the specialty chemicals company’s stock after selling 202,557 shares during the period. Cornerstone Capital Management Holdings LLC. owned about 0.48% of Olin worth $28,374,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of OLN. Bessemer Group Inc. boosted its stake in shares of Olin by 971.4% in the 4th quarter. Bessemer Group Inc. now owns 4,725 shares of the specialty chemicals company’s stock valued at $168,000 after purchasing an additional 4,284 shares in the last quarter. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Olin in the 4th quarter valued at $178,000. Naples Global Advisors LLC acquired a new stake in shares of Olin in the 4th quarter valued at $206,000. Fox Run Management L.L.C. acquired a new stake in shares of Olin in the 4th quarter valued at $210,000. Finally, Neuberger Berman Group LLC acquired a new stake in shares of Olin in the 3rd quarter valued at $216,000. Institutional investors own 89.09% of the company’s stock.
Several equities research analysts have recently commented on the stock. ValuEngine upgraded shares of Olin from a “sell” rating to a “hold” rating in a research note on Tuesday. JPMorgan Chase & Co. initiated coverage on shares of Olin in a research report on Friday, March 9th. They set an “overweight” rating and a $36.00 price target on the stock. SunTrust Banks reiterated a “buy” rating on shares of Olin in a research report on Tuesday, February 13th. Morgan Stanley set a $41.00 price target on shares of Olin and gave the stock a “buy” rating in a research report on Monday, February 12th. Finally, Citigroup set a $40.00 price target on shares of Olin and gave the stock a “buy” rating in a research report on Monday, February 12th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $39.45.
Olin Co. (OLN) opened at $32.78 on Wednesday. The stock has a market cap of $5,539.87, a PE ratio of 38.99, a P/E/G ratio of 1.18 and a beta of 1.43. The company has a current ratio of 1.78, a quick ratio of 1.07 and a debt-to-equity ratio of 1.31. Olin Co. has a 52-week low of $27.79 and a 52-week high of $38.84.
Olin (NYSE:OLN) last announced its quarterly earnings data on Tuesday, February 6th. The specialty chemicals company reported $2.89 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $2.45. The firm had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.53 billion. Olin had a return on equity of 6.02% and a net margin of 8.77%. The company’s quarterly revenue was up 16.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.11 EPS. analysts forecast that Olin Co. will post 2.03 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 9th. Shareholders of record on Friday, February 9th were issued a dividend of $0.20 per share. The ex-dividend date was Thursday, February 8th. This represents a $0.80 annualized dividend and a yield of 2.44%. Olin’s dividend payout ratio is currently 24.69%.
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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, hydrochloric acid, hydrogen, bleach products and potassium hydroxide.
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