Federated Hermes Inc. Sells 32,919 Shares of Olin Corporation $OLN

Federated Hermes Inc. decreased its stake in Olin Corporation (NYSE:OLN) by 76.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,242 shares of the specialty chemicals company’s stock after selling 32,919 shares during the period. Federated Hermes Inc.’s holdings in Olin were worth $256,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Olin in the 1st quarter valued at $32,000. Evelyn Partners Investment Management LLP raised its position in shares of Olin by 6,360.0% during the second quarter. Evelyn Partners Investment Management LLP now owns 1,615 shares of the specialty chemicals company’s stock valued at $32,000 after buying an additional 1,590 shares during the last quarter. SJS Investment Consulting Inc. acquired a new position in shares of Olin during the third quarter valued at about $49,000. HHM Wealth Advisors LLC lifted its stake in shares of Olin by 30.5% in the second quarter. HHM Wealth Advisors LLC now owns 4,126 shares of the specialty chemicals company’s stock valued at $83,000 after buying an additional 965 shares during the period. Finally, Headlands Technologies LLC grew its position in Olin by 67.6% during the second quarter. Headlands Technologies LLC now owns 4,400 shares of the specialty chemicals company’s stock worth $88,000 after buying an additional 1,775 shares in the last quarter. Institutional investors own 88.67% of the company’s stock.

Insiders Place Their Bets

In other news, VP R Nichole Sumner sold 4,750 shares of the firm’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $22.49, for a total transaction of $106,827.50. Following the completion of the sale, the vice president owned 24,771 shares of the company’s stock, valued at approximately $557,099.79. This trade represents a 16.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Todd A. Slater sold 92,250 shares of Olin stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $22.48, for a total transaction of $2,073,780.00. Following the completion of the transaction, the chief financial officer owned 44,291 shares of the company’s stock, valued at $995,661.68. This trade represents a 67.56% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 101,500 shares of company stock valued at $2,274,478. 1.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

OLN has been the subject of several recent research reports. Citigroup cut their price target on Olin from $24.00 to $21.00 and set a “neutral” rating for the company in a report on Tuesday, February 3rd. Mizuho set a $22.00 price objective on Olin in a research report on Friday, January 30th. BMO Capital Markets reduced their target price on Olin from $25.00 to $24.00 and set a “market perform” rating for the company in a research report on Tuesday, February 3rd. UBS Group set a $21.00 price target on shares of Olin in a research note on Monday, February 2nd. Finally, Morgan Stanley lowered their price target on shares of Olin from $20.00 to $18.00 and set an “underweight” rating on the stock in a report on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Olin currently has a consensus rating of “Hold” and a consensus target price of $22.86.

Olin Price Performance

Shares of OLN stock opened at $24.88 on Monday. The stock’s fifty day simple moving average is $22.03 and its 200 day simple moving average is $22.15. Olin Corporation has a one year low of $17.66 and a one year high of $28.77. The firm has a market cap of $2.84 billion, a price-to-earnings ratio of -65.47 and a beta of 1.64. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.35 and a quick ratio of 0.81.

Olin (NYSE:OLN) last issued its quarterly earnings data on Thursday, January 29th. The specialty chemicals company reported ($0.58) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.58). Olin had a negative return on equity of 0.47% and a negative net margin of 0.63%.The company had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.61 billion. During the same period last year, the business earned $0.09 earnings per share. The business’s revenue was down .4% on a year-over-year basis. On average, analysts expect that Olin Corporation will post 1.38 earnings per share for the current fiscal year.

Olin Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 12th. Shareholders of record on Friday, November 28th were given a $0.20 dividend. The ex-dividend date was Friday, November 28th. This represents a $0.80 dividend on an annualized basis and a yield of 3.2%. Olin’s payout ratio is -210.53%.

Olin Profile

Olin Corporation is a diversified manufacturer specializing in chemical products and ammunition. The company’s core business activities encompass the production and distribution of chlor-alkali products, epoxy resins and derivatives, and small-caliber ammunition under the Winchester brand. Olin’s chemical operations supply chlorine, caustic soda and related co-products to a wide range of end markets, including water treatment, pulp and paper, pharmaceuticals and general industrial applications.

In its Chlor Alkali Products & Vinyls segment, Olin operates multiple manufacturing facilities that produce chlorine and sodium hydroxide, along with vinyl chloride monomer and polyvinyl chloride (PVC) compounds.