Wealth Enhancement Advisory Services LLC Acquires 1,440 Shares of Olin Co. (NYSE:OLN)

Wealth Enhancement Advisory Services LLC grew its stake in Olin Co. (NYSE:OLN) by 20.5% during the 2nd quarter, HoldingsChannel reports. The firm owned 8,466 shares of the specialty chemicals company’s stock after acquiring an additional 1,440 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Olin were worth $399,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of OLN. Fifth Third Bancorp boosted its stake in Olin by 30.0% in the 1st 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 in the last quarter. Louisiana State Employees Retirement System lifted its holdings in shares of Olin by 0.6% during the first quarter. Louisiana State Employees Retirement System now owns 34,600 shares of the specialty chemicals company’s stock valued at $2,034,000 after acquiring an additional 200 shares during the period. OLD National Bancorp IN boosted its stake in shares of Olin by 4.2% in the 2nd quarter. OLD National Bancorp IN now owns 6,343 shares of the specialty chemicals company’s stock valued at $299,000 after purchasing an additional 253 shares in the last quarter. Financial Advocates Investment Management grew its holdings in shares of Olin by 5.5% in the 4th quarter. Financial Advocates Investment Management now owns 5,086 shares of the specialty chemicals company’s stock worth $274,000 after purchasing an additional 266 shares during the last quarter. Finally, LRI Investments LLC acquired a new stake in shares of Olin during the 1st quarter worth about $28,000. 88.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on OLN shares. Stifel Nicolaus boosted their price target on shares of Olin from $68.00 to $69.00 and gave the company a “buy” rating in a research report on Monday, April 29th. Bank of America downgraded Olin from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $62.00 to $51.00 in a report on Monday, July 29th. Barclays dropped their price target on Olin from $59.00 to $49.00 and set an “equal weight” rating for the company in a report on Monday, July 29th. Mizuho initiated coverage on Olin in a research note on Thursday, August 8th. They issued a “neutral” rating and a $45.00 price objective on the stock. Finally, Wells Fargo & Company decreased their target price on Olin from $50.00 to $48.00 and set an “equal weight” rating on the stock in a report on Monday, July 29th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $53.27.

Olin Stock Up 3.9 %

Shares of NYSE OLN opened at $44.45 on Friday. Olin Co. has a 1 year low of $40.26 and a 1 year high of $60.60. The firm’s 50-day moving average is $45.73 and its 200-day moving average is $51.42. The company has a current ratio of 1.43, a quick ratio of 0.82 and a debt-to-equity ratio of 1.29. The firm has a market capitalization of $5.22 billion, a PE ratio of 15.99, a price-to-earnings-growth ratio of 0.92 and a beta of 1.44.

Olin (NYSE:OLN) last announced its quarterly earnings data on Thursday, July 25th. The specialty chemicals company reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.08). The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.71 billion. Olin had a net margin of 4.26% and a return on equity of 11.73%. Olin’s revenue was down 3.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.13 earnings per share. Equities analysts expect that Olin Co. will post 1.61 EPS for the current year.

Olin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Thursday, August 8th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.80%. The ex-dividend date is Thursday, August 8th. Olin’s payout ratio is 28.78%.

Olin Company Profile

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.