Madison Asset Management LLC Makes New $902,000 Investment in Olin Corporation $OLN

Madison Asset Management LLC purchased a new position in shares of Olin Corporation (NYSE:OLN) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 45,501 shares of the specialty chemicals company’s stock, valued at approximately $902,000.

Several other institutional investors have also made changes to their positions in OLN. Great Lakes Advisors LLC bought a new stake in shares of Olin in the 2nd quarter valued at approximately $497,000. Bank of New York Mellon Corp bought a new position in Olin during the second quarter valued at approximately $23,785,000. Arlington Trust Co LLC acquired a new stake in Olin in the second quarter valued at approximately $140,000. Glenmede Trust Co. NA bought a new stake in Olin in the first quarter worth approximately $206,000. Finally, Segall Bryant & Hamill LLC bought a new stake in Olin in the first quarter worth approximately $14,770,000. 88.67% of the stock is currently owned by institutional investors and hedge funds.

Olin Price Performance

Shares of Olin stock opened at $18.41 on Friday. The company has a current ratio of 1.42, a quick ratio of 0.87 and a debt-to-equity ratio of 1.77. The firm has a fifty day simple moving average of $20.76 and a 200-day simple moving average of $24.28. The stock has a market capitalization of $2.10 billion, a price-to-earnings ratio of -14.97 and a beta of 1.22. Olin Corporation has a 1-year low of $17.73 and a 1-year high of $30.46.

Olin (NYSE:OLN) last posted its earnings results on Thursday, July 30th. The specialty chemicals company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.25). The firm had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.81 billion. Olin had a negative net margin of 2.08% and a negative return on equity of 4.76%. The business’s quarterly revenue was down .9% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.01) earnings per share. On average, sell-side analysts expect that Olin Corporation will post -0.64 earnings per share for the current year.

Olin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Thursday, August 27th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend is Thursday, August 27th. Olin’s dividend payout ratio (DPR) is currently -65.04%.

Analyst Ratings Changes

A number of research firms have recently weighed in on OLN. Morgan Stanley raised their price target on shares of Olin from $18.00 to $22.00 and gave the company an “underweight” rating in a report on Monday, May 11th. Truist Financial decreased their price objective on shares of Olin from $24.00 to $20.00 and set a “hold” rating for the company in a report on Monday, August 3rd. JPMorgan Chase & Co. lowered their target price on shares of Olin from $26.00 to $25.00 and set a “neutral” rating on the stock in a research report on Thursday, June 18th. Bank of America lowered Olin from a “buy” rating to an “underperform” rating and cut their target price for the company from $32.00 to $21.00 in a report on Tuesday, June 30th. Finally, UBS Group reduced their price target on Olin from $23.00 to $21.00 and set a “neutral” rating for the company in a research report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, ten have given a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, Olin presently has a consensus rating of “Reduce” and a consensus target price of $23.08.

Olin Company Profile

Olin Corporation is a diversified manufacturer specializing in chemical products and ammunition. The company’s core business activities encompass the production and distribution of chlor-alkali products, epoxy resins and derivatives, and small-caliber ammunition under the Winchester brand. Olin’s chemical operations supply chlorine, caustic soda and related co-products to a wide range of end markets, including water treatment, pulp and paper, pharmaceuticals and general industrial applications.

In its Chlor Alkali Products & Vinyls segment, Olin operates multiple manufacturing facilities that produce chlorine and sodium hydroxide, along with vinyl chloride monomer and polyvinyl chloride (PVC) compounds.