V. M. Manning & CO. Inc. Makes New $989,000 Investment in Olin Corporation $OLN

V. M. Manning & CO. Inc. purchased a new stake in shares of Olin Corporation (NYSE:OLN) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 49,213 shares of the specialty chemicals company’s stock, valued at approximately $989,000. Olin comprises approximately 1.1% of V. M. Manning & CO. Inc.’s holdings, making the stock its 21st biggest position.

A number of other hedge funds have also recently added to or reduced their stakes in the company. FORA Capital LLC grew its position in Olin by 2.6% in the second quarter. FORA Capital LLC now owns 24,453 shares of the specialty chemicals company’s stock worth $491,000 after acquiring an additional 625 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Olin by 13.0% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 6,778 shares of the specialty chemicals company’s stock valued at $164,000 after purchasing an additional 778 shares during the last quarter. Treasurer of the State of North Carolina boosted its holdings in Olin by 1.5% in the second quarter. Treasurer of the State of North Carolina now owns 53,636 shares of the specialty chemicals company’s stock worth $1,078,000 after purchasing an additional 793 shares in the last quarter. Blue Trust Inc. increased its position in Olin by 22.0% during the second quarter. Blue Trust Inc. now owns 4,979 shares of the specialty chemicals company’s stock worth $100,000 after buying an additional 899 shares during the last quarter. Finally, HHM Wealth Advisors LLC raised its holdings in Olin by 30.5% during the second quarter. HHM Wealth Advisors LLC now owns 4,126 shares of the specialty chemicals company’s stock valued at $83,000 after buying an additional 965 shares in the last quarter. Institutional investors and hedge funds own 88.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on OLN. KeyCorp decreased their price target on Olin from $30.00 to $29.00 and set an “overweight” rating for the company in a research note on Wednesday, October 29th. Mizuho set a $26.00 target price on Olin in a research report on Friday, October 3rd. Weiss Ratings reiterated a “sell (d+)” rating on shares of Olin in a report on Wednesday, October 8th. UBS Group reduced their price objective on shares of Olin from $24.00 to $22.00 and set a “neutral” rating for the company in a research note on Wednesday, October 29th. Finally, Fermium Researc upgraded shares of Olin to a “strong-buy” rating in a research note on Thursday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $25.00.

Olin Stock Down 0.6%

OLN opened at $22.18 on Monday. The business has a 50 day moving average of $21.53 and a 200-day moving average of $21.72. The stock has a market capitalization of $2.53 billion, a price-to-earnings ratio of 48.21, a P/E/G ratio of 7.28 and a beta of 1.66. The company has a current ratio of 1.56, a quick ratio of 0.89 and a debt-to-equity ratio of 1.49. Olin Corporation has a 1-year low of $17.66 and a 1-year high of $37.91.

Olin (NYSE:OLN) last released its earnings results on Monday, October 27th. The specialty chemicals company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.09 by $0.31. The firm had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.74 billion. Olin had a net margin of 0.79% and a return on equity of 3.36%. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.21) EPS. As a group, sell-side analysts anticipate that Olin Corporation will post 1.38 earnings per share for the current year.

Olin Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 12th. Investors of record on Friday, November 28th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, November 28th. This represents a $0.80 dividend on an annualized basis and a yield of 3.6%. Olin’s dividend payout ratio (DPR) is 173.91%.

Insider Transactions at Olin

In other Olin news, VP Teresa M. Vermillion sold 4,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $20.86, for a total value of $93,870.00. Following the completion of the transaction, the vice president owned 17,199 shares of the company’s stock, valued at $358,771.14. This represents a 20.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.70% of the stock is owned by corporate insiders.

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.