Xact Kapitalforvaltning AB Buys New Position in Olin Co. (NYSE:OLN)

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Xact Kapitalforvaltning AB bought a new position in shares of Olin Co. (NYSE:OLN) during the first quarter, according to its most recent filing with the SEC. The fund bought 14,100 shares of the specialty chemicals company’s stock, valued at approximately $326,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in OLN. JOYN Advisors Inc. raised its stake in Olin by 743.3% in the 4th quarter. JOYN Advisors Inc. now owns 1,813 shares of the specialty chemicals company’s stock valued at $36,000 after acquiring an additional 1,598 shares during the period. CWM LLC raised its stake in Olin by 1,219.7% in the 1st quarter. CWM LLC now owns 1,676 shares of the specialty chemicals company’s stock valued at $39,000 after acquiring an additional 1,549 shares during the period. Nalls Sherbakoff Group LLC bought a new stake in Olin in the 4th quarter valued at about $50,000. Oregon Public Employees Retirement Fund raised its stake in Olin by 1,911.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,332,529 shares of the specialty chemicals company’s stock valued at $66,000 after acquiring an additional 1,266,267 shares during the period. Finally, Penserra Capital Management LLC raised its stake in Olin by 385.1% in the 4th quarter. Penserra Capital Management LLC now owns 4,288 shares of the specialty chemicals company’s stock valued at $86,000 after acquiring an additional 3,404 shares during the period. Institutional investors own 91.87% of the company’s stock.

OLN stock opened at $21.88 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.48 and a debt-to-equity ratio of 1.08. The stock has a market cap of $3.71 billion, a price-to-earnings ratio of 11.89, a P/E/G ratio of 0.75 and a beta of 1.52. Olin Co. has a twelve month low of $17.87 and a twelve month high of $32.00.

Olin (NYSE:OLN) last posted its earnings results on Tuesday, April 30th. The specialty chemicals company reported $0.28 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.04). The company had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.69 billion. Olin had a net margin of 5.14% and a return on equity of 11.12%. The firm’s quarterly revenue was down 9.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.12 EPS. Sell-side analysts expect that Olin Co. will post 1.61 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 10th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date of this dividend was Thursday, May 9th. Olin’s payout ratio is presently 45.71%.

A number of equities research analysts recently issued reports on the company. Nomura upgraded Olin from a “reduce” rating to a “neutral” rating and boosted their price objective for the company from $22.00 to $25.00 in a research note on Monday, April 15th. ValuEngine cut Olin from a “hold” rating to a “sell” rating in a research note on Friday, March 1st. Alembic Global Advisors assumed coverage on Olin in a research note on Monday, April 22nd. They issued a “buy” rating and a $32.00 price objective on the stock. Finally, Cowen restated an “outperform” rating and issued a $27.00 price objective (down from $31.00) on shares of Olin in a research note on Monday, May 6th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $29.33.

In other Olin news, EVP John L. Mcintosh sold 10,500 shares of Olin stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $21.74, for a total transaction of $228,270.00. Following the completion of the transaction, the executive vice president now owns 100,812 shares of the company’s stock, valued at approximately $2,191,652.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John L. Mcintosh sold 19,335 shares of Olin stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $22.54, for a total value of $435,810.90. Following the transaction, the executive vice president now directly owns 81,477 shares of the company’s stock, valued at approximately $1,836,491.58. The disclosure for this sale can be found here. 1.90% of the stock is owned by insiders.

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Olin Company Profile

Olin Corporation manufactures and distributes chemical products in the United States and internationally. 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, trichloroethylene and vinylidene chloride, hydrochloric acid, hydrogen, bleach products, potassium hydroxide, chlorinated organics intermediates and solvents, and sodium hypochlorite.The Epoxy segment provides allyl chloride and epichlorohydrin, as well as acetone, bisphenol, cumene, and phenol for use in resins and other plastic materials, water purification, and pesticides, as well as for the manufacturers of polymers; liquid and solid epoxy resins that are used in adhesives, paints and coatings, composites, and flooring; and differentiated epoxy resins for use in electrical laminates, paints and coatings, wind blades, electronics, and construction, as well as offers additives.

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Institutional Ownership by Quarter for Olin (NYSE:OLN)

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