Allianz Asset Management GmbH Buys 139,110 Shares of Olin Corporation $OLN

Allianz Asset Management GmbH increased its stake in Olin Corporation (NYSE:OLN) by 164.5% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 223,678 shares of the specialty chemicals company’s stock after buying an additional 139,110 shares during the period. Allianz Asset Management GmbH’s holdings in Olin were worth $5,590,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in OLN. Royal Bank of Canada boosted its holdings in Olin by 20.2% in the first quarter. Royal Bank of Canada now owns 85,198 shares of the specialty chemicals company’s stock worth $2,066,000 after acquiring an additional 14,344 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Olin in the 1st quarter worth about $32,000. Jones Financial Companies Lllp boosted its stake in Olin by 467.9% in the 1st quarter. Jones Financial Companies Lllp now owns 13,805 shares of the specialty chemicals company’s stock worth $335,000 after purchasing an additional 11,374 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Olin by 57.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 588,602 shares of the specialty chemicals company’s stock worth $14,268,000 after purchasing an additional 215,235 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Olin by 6.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 317,472 shares of the specialty chemicals company’s stock valued at $7,696,000 after purchasing an additional 20,047 shares during the last quarter. Institutional investors own 88.67% of the company’s stock.

Insider Activity

In other news, CFO Todd A. Slater sold 92,250 shares of the stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $22.48, for a total value of $2,073,780.00. Following the transaction, the chief financial officer owned 44,291 shares in the company, valued at $995,661.68. This represents a 67.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP R Nichole Sumner sold 4,750 shares of the firm’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $22.49, for a total transaction of $106,827.50. Following the completion of the transaction, the vice president directly owned 24,771 shares in the company, valued at approximately $557,099.79. The trade was a 16.09% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 101,500 shares of company stock valued at $2,274,478 in the last quarter. 1.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of Olin from a “hold” rating to a “sell” rating in a research note on Saturday, January 10th. Truist Financial decreased their price objective on shares of Olin from $23.00 to $20.00 and set a “hold” rating for the company in a report on Monday, February 2nd. Wells Fargo & Company cut their target price on Olin from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 29th. Bank of America lifted their target price on Olin from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, October 14th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $26.00 price target on shares of Olin in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, Olin has a consensus rating of “Hold” and an average target price of $23.07.

Olin Price Performance

NYSE OLN opened at $26.03 on Wednesday. The stock has a market capitalization of $2.97 billion, a price-to-earnings ratio of -68.50 and a beta of 1.64. Olin Corporation has a 1-year low of $17.66 and a 1-year high of $28.77. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.35 and a quick ratio of 0.81. The business’s fifty day moving average price is $22.19 and its 200-day moving average price is $22.21.

Olin (NYSE:OLN) last posted its quarterly earnings data on Thursday, January 29th. The specialty chemicals company reported ($0.58) 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 quarter in the prior year, the business earned $0.09 earnings per share. Olin’s revenue for the quarter was down .4% compared to the same quarter last year. On average, equities analysts predict that Olin Corporation will post 1.38 earnings per share for the current year.

Olin Company 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.