Olin Corporation (NYSE:OLN) Shares Bought by Capstone Asset Management Co.

Capstone Asset Management Co. raised its position in Olin Corporation (NYSE:OLN) by 5.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,515 shares of the specialty chemicals company’s stock after buying an additional 680 shares during the period. Capstone Asset Management Co.’s holdings in Olin Corporation were worth $379,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. BlackRock Inc. raised its position in Olin Corporation by 7,604.7% in the first quarter. BlackRock Inc. now owns 19,895,613 shares of the specialty chemicals company’s stock worth $653,967,000 after buying an additional 19,637,387 shares in the last quarter. King Street Capital Management L.P. acquired a new position in Olin Corporation during the first quarter worth about $65,740,000. Bank of New York Mellon Corp raised its position in Olin Corporation by 51.8% in the first quarter. Bank of New York Mellon Corp now owns 3,176,770 shares of the specialty chemicals company’s stock worth $104,421,000 after buying an additional 1,083,395 shares in the last quarter. Columbus Circle Investors acquired a new position in Olin Corporation during the first quarter worth about $32,179,000. Finally, Prudential Financial Inc. raised its position in Olin Corporation by 890.3% in the first quarter. Prudential Financial Inc. now owns 1,026,922 shares of the specialty chemicals company’s stock valued at $33,755,000 after buying an additional 923,220 shares during the period. 93.02% of the stock is owned by institutional investors.

Shares of Olin Corporation (NYSE:OLN) opened at 30.02 on Friday. The company has a 50-day moving average of $30.43 and a 200-day moving average of $30.82. Olin Corporation has a 1-year low of $18.24 and a 1-year high of $33.88. The firm has a market cap of $4.99 billion, a PE ratio of 116.81 and a beta of 1.43.

Olin Corporation (NYSE:OLN) last released its quarterly earnings results on Monday, July 31st. The specialty chemicals company reported $0.01 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by $0.15. Olin Corporation had a return on equity of 5.80% and a net margin of 0.72%. The company had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.51 billion. During the same quarter last year, the company earned $0.24 EPS. Olin Corporation’s revenue for the quarter was up 11.9% compared to the same quarter last year. Analysts predict that Olin Corporation will post $1.14 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Thursday, August 10th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.66%. The ex-dividend date is Tuesday, August 8th. Olin Corporation’s dividend payout ratio (DPR) is presently 320.00%.

Several research firms have recently weighed in on OLN. UBS AG reaffirmed a “neutral” rating and set a $30.00 target price (down from $33.00) on shares of Olin Corporation in a report on Sunday, June 25th. BidaskClub raised shares of Olin Corporation from a “sell” rating to a “hold” rating in a report on Wednesday. Royal Bank Of Canada reaffirmed a “buy” rating and set a $35.00 target price on shares of Olin Corporation in a report on Tuesday, June 20th. Tudor Pickering began coverage on shares of Olin Corporation in a report on Friday, May 12th. They set a “buy” rating and a $37.00 target price for the company. Finally, Cowen and Company set a $39.00 target price on shares of Olin Corporation and gave the company a “buy” rating in a report on Friday, July 28th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $32.75.

In other Olin Corporation news, EVP John L. Mcintosh sold 16,070 shares of the stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $31.02, for a total value of $498,491.40. Following the completion of the transaction, the executive vice president now owns 60,391 shares in the company, valued at $1,873,328.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Stephen C. Curley sold 5,000 shares of the stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $30.34, for a total value of $151,700.00. Following the completion of the transaction, the vice president now owns 23,837 shares of the company’s stock, valued at approximately $723,214.58. The disclosure for this sale can be found here. Insiders have sold 45,070 shares of company stock valued at $1,407,151 in the last 90 days. Company insiders own 2.90% of the company’s stock.

Olin Corporation Company Profile

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.