Bokf Na Reduces Position in Olin Co. (NYSE:OLN)

Bokf Na cut its holdings in shares of Olin Co. (NYSE:OLN) by 1.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 44,484 shares of the specialty chemicals company’s stock after selling 465 shares during the quarter. Bokf Na’s holdings in Olin were worth $2,654,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in OLN. LRI Investments LLC purchased a new stake in Olin during the first quarter valued at about $28,000. Sandy Spring Bank lifted its holdings in Olin by 145.6% during the fourth quarter. Sandy Spring Bank now owns 614 shares of the specialty chemicals company’s stock valued at $33,000 after purchasing an additional 364 shares during the last quarter. Fifth Third Bancorp increased its position in shares of Olin by 30.0% during the first quarter. Fifth Third Bancorp now owns 858 shares of the specialty chemicals company’s stock valued at $50,000 after buying an additional 198 shares during the period. Quarry LP bought a new stake in shares of Olin during the fourth quarter valued at about $50,000. Finally, ORG Partners LLC increased its position in shares of Olin by 1,100.0% during the fourth quarter. ORG Partners LLC now owns 960 shares of the specialty chemicals company’s stock valued at $52,000 after buying an additional 880 shares during the period. 88.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company decreased their price target on Olin from $50.00 to $48.00 and set an “equal weight” rating on the stock in a research report on Monday. JPMorgan Chase & Co. upgraded Olin from a “neutral” rating to an “overweight” rating and set a $55.00 price target on the stock in a research report on Monday. Bank of America decreased their price target on Olin from $74.00 to $72.00 and set a “buy” rating on the stock in a research report on Monday, April 29th. Royal Bank of Canada decreased their price target on Olin from $69.00 to $63.00 and set an “outperform” rating on the stock in a research report on Monday, April 29th. Finally, Barclays upped their price target on Olin from $57.00 to $59.00 and gave the company an “equal weight” rating in a research report on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Olin currently has an average rating of “Hold” and a consensus target price of $59.29.

Olin Price Performance

NYSE OLN traded up $0.70 on Monday, reaching $45.29. 576,595 shares of the company’s stock traded hands, compared to its average volume of 1,071,389. Olin Co. has a 12 month low of $41.71 and a 12 month high of $60.60. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.43 and a quick ratio of 0.82. The stock has a 50-day simple moving average of $49.67 and a 200 day simple moving average of $52.72. The stock has a market cap of $5.41 billion, a PE ratio of 16.25, a P/E/G ratio of 0.32 and a beta of 1.44.

Olin (NYSE:OLN) last issued its quarterly earnings results on Thursday, July 25th. The specialty chemicals company reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.08). Olin had a net margin of 4.26% and a return on equity of 11.73%. The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter in the previous year, the business earned $1.13 earnings per share. The firm’s revenue was down 3.5% on a year-over-year basis. As a group, research analysts predict that Olin Co. will post 3.1 earnings per share for the current year.

Olin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Thursday, August 8th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date is Thursday, August 8th. Olin’s dividend payout ratio (DPR) is presently 28.78%.

About Olin

Olin Corporation manufactures and distributes chemical products in the United States, Europe, Asia Pacific, Latin America, and Canada. 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, hydrochloric acid, hydrogen, bleach products, potassium hydroxide, and chlorinated organics intermediates and solvents.