Natixis Advisors LLC Sells 6,201 Shares of Olin Co. (NYSE:OLN)

Natixis Advisors LLC lowered its holdings in Olin Co. (NYSE:OLN) by 25.8% during the second quarter, HoldingsChannel.com reports. The fund owned 17,817 shares of the specialty chemicals company’s stock after selling 6,201 shares during the period. Natixis Advisors LLC’s holdings in Olin were worth $840,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in OLN. Hotchkis & Wiley Capital Management LLC grew its stake in shares of Olin by 3.2% in the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 6,602,331 shares of the specialty chemicals company’s stock valued at $356,196,000 after purchasing an additional 203,260 shares during the period. Boston Partners grew its position in Olin by 7.7% in the first quarter. Boston Partners now owns 5,414,265 shares of the specialty chemicals company’s stock valued at $317,897,000 after acquiring an additional 384,888 shares during the period. Dimensional Fund Advisors LP raised its stake in Olin by 3.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,635,983 shares of the specialty chemicals company’s stock worth $196,167,000 after acquiring an additional 126,587 shares in the last quarter. Balyasny Asset Management L.P. lifted its holdings in shares of Olin by 218.6% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,649,273 shares of the specialty chemicals company’s stock valued at $88,978,000 after acquiring an additional 1,131,674 shares during the period. Finally, Norges Bank acquired a new stake in shares of Olin in the 4th quarter valued at $76,125,000. Institutional investors and hedge funds own 88.67% of the company’s stock.

Olin Stock Performance

NYSE OLN opened at $40.82 on Thursday. Olin Co. has a fifty-two week low of $39.47 and a fifty-two week high of $60.60. The stock has a market cap of $4.87 billion, a PE ratio of 14.68, a PEG ratio of 0.90 and a beta of 1.41. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.82 and a current ratio of 1.43. The firm’s fifty day moving average price is $44.29 and its two-hundred day moving average price is $50.59.

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

Olin Dividend Announcement

The company 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 $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.96%. The ex-dividend date of this dividend is Thursday, August 8th. Olin’s dividend payout ratio is currently 28.78%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on OLN shares. Piper Sandler dropped their target price on shares of Olin from $75.00 to $57.00 and set an “overweight” rating for the company in a research report on Tuesday, July 30th. BMO Capital Markets assumed coverage on Olin in a research note on Tuesday, September 3rd. They set a “market perform” rating and a $50.00 target price for the company. Wells Fargo & Company lowered their price target on shares of Olin from $50.00 to $48.00 and set an “equal weight” rating on the stock in a research note on Monday, July 29th. Bank of America cut Olin from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $62.00 to $51.00 in a report on Monday, July 29th. Finally, KeyCorp reduced their price target on Olin from $69.00 to $62.00 and set an “overweight” rating for the company in a research note on Monday, July 29th. One investment 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, Olin presently has an average rating of “Hold” and a consensus price target of $52.73.

Olin 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.