Alpha Windward LLC increased its position in Olin Co. (NYSE:OLN) by 18.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,060 shares of the specialty chemicals company’s stock after acquiring an additional 2,820 shares during the period. Alpha Windward LLC’s holdings in Olin were worth $464,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently modified their holdings of OLN. Balter Liquid Alternatives LLC acquired a new stake in Olin during the 2nd quarter worth about $154,000. Baird Financial Group Inc. acquired a new stake in Olin during the 2nd quarter worth about $204,000. WINTON GROUP Ltd acquired a new stake in Olin during the 1st quarter worth about $222,000. MAI Capital Management acquired a new stake in Olin during the 2nd quarter worth about $240,000. Finally, Fox Run Management L.L.C. acquired a new stake in Olin during the 3rd quarter worth about $258,000. Institutional investors own 87.60% of the company’s stock.
In other news, Director Scott Mcdougald Sutton purchased 15,000 shares of Olin stock in a transaction dated Thursday, November 1st. The shares were purchased at an average price of $21.62 per share, with a total value of $324,300.00. Following the transaction, the director now owns 15,000 shares in the company, valued at $324,300. The purchase was disclosed in a document filed with the SEC, which is available through this link. 1.70% of the stock is currently owned by insiders.
Olin (NYSE:OLN) last released its earnings results on Monday, October 29th. The specialty chemicals company reported $0.66 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.75 by ($0.09). The business had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Olin had a return on equity of 10.70% and a net margin of 11.02%. The company’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same period last year, the business earned $0.31 earnings per share. On average, equities analysts anticipate that Olin Co. will post 1.91 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Friday, November 9th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.85%. The ex-dividend date of this dividend is Thursday, November 8th. Olin’s payout ratio is presently 98.77%.
A number of equities research analysts have recently commented on the company. Citigroup dropped their target price on Olin from $33.00 to $26.00 and set a “buy” rating on the stock in a research report on Thursday, November 1st. Barclays dropped their target price on Olin from $29.00 to $24.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 31st. Nomura dropped their target price on Olin from $29.00 to $27.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 31st. Royal Bank of Canada dropped their target price on Olin to $22.00 and set a “sector perform” rating on the stock in a research report on Wednesday, October 31st. Finally, SunTrust Banks dropped their target price on Olin to $35.00 and set an “in-line” rating on the stock in a research report on Wednesday, October 31st. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $31.91.
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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, and potassium hydroxide.
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