Charles Schwab Investment Management Inc. Raises Stock Holdings in Olin Corporation $OLN

Charles Schwab Investment Management Inc. boosted its holdings in Olin Corporation (NYSE:OLN) by 9.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,489,506 shares of the specialty chemicals company’s stock after purchasing an additional 125,363 shares during the period. Charles Schwab Investment Management Inc. owned about 1.31% of Olin worth $31,026,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Olin by 4.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 303,656 shares of the specialty chemicals company’s stock valued at $6,325,000 after purchasing an additional 12,020 shares during the last quarter. HITE Hedge Asset Management LLC purchased a new position in Olin in the fourth quarter valued at about $3,049,000. Rossby Financial LCC purchased a new position in Olin in the fourth quarter valued at about $354,000. Orion Porfolio Solutions LLC acquired a new stake in Olin during the fourth quarter valued at approximately $372,000. Finally, Cibc World Markets Corp acquired a new stake in Olin in the 4th quarter valued at approximately $3,124,000. Hedge funds and other institutional investors own 88.67% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. Wells Fargo & Company restated an “overweight” rating and issued a $37.00 target price on shares of Olin in a research report on Sunday, May 10th. KeyCorp lowered their target price on Olin from $29.00 to $26.00 and set an “overweight” rating on the stock in a research report on Monday, February 2nd. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $26.00 target price on shares of Olin in a research report on Tuesday, February 10th. Morgan Stanley raised their target price on Olin from $18.00 to $22.00 and gave the company an “underweight” rating in a research report on Monday, May 11th. Finally, Wall Street Zen upgraded Olin from a “sell” rating to a “hold” rating in a research report on Saturday, April 11th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $27.79.

Olin Stock Performance

OLN opened at $26.78 on Friday. The firm has a market cap of $3.05 billion, a PE ratio of -23.91 and a beta of 1.21. The company has a quick ratio of 0.82, a current ratio of 1.36 and a debt-to-equity ratio of 1.73. The business has a fifty day simple moving average of $27.15 and a 200-day simple moving average of $23.85. Olin Corporation has a fifty-two week low of $18.08 and a fifty-two week high of $30.46.

Olin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Thursday, May 14th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Thursday, May 14th. Olin’s dividend payout ratio (DPR) is -71.43%.

Insider Activity at Olin

In other news, VP Angela M. Castle sold 2,379 shares of the firm’s stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $24.25, for a total value of $57,690.75. Following the completion of the sale, the vice president owned 1,528 shares of the company’s stock, valued at $37,054. This trade represents a 60.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 1.60% of the stock is currently owned by company insiders.

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.