Federated Hermes Inc. Boosts Stake in Olin Co. (NYSE:OLN)

Federated Hermes Inc. lifted its holdings in Olin Co. (NYSE:OLN) by 9.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,475 shares of the specialty chemicals company’s stock after acquiring an additional 1,517 shares during the period. Federated Hermes Inc.’s holdings in Olin were worth $824,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. LRI Investments LLC bought a new stake in shares of Olin during the first quarter valued at approximately $28,000. EverSource Wealth Advisors LLC grew its holdings in Olin by 4,375.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 537 shares of the specialty chemicals company’s stock worth $32,000 after acquiring an additional 525 shares in the last quarter. nVerses Capital LLC bought a new position in Olin during the 2nd quarter worth about $33,000. Quarry LP purchased a new position in Olin during the 4th quarter valued at about $50,000. Finally, Headlands Technologies LLC bought a new stake in shares of Olin in the 1st quarter valued at about $69,000. Hedge funds and other institutional investors own 88.67% of the company’s stock.

Olin Trading Down 1.8 %

Shares of Olin stock opened at $44.10 on Monday. The firm’s 50 day simple moving average is $43.84 and its two-hundred day simple moving average is $50.04. The firm has a market capitalization of $5.18 billion, a price-to-earnings ratio of 15.86, a PEG ratio of 0.94 and a beta of 1.41. Olin Co. has a 12-month low of $39.47 and a 12-month high of $60.60. The company has a current ratio of 1.43, a quick ratio of 0.82 and a debt-to-equity ratio of 1.29.

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

Olin Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Thursday, August 8th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date was Thursday, August 8th. Olin’s dividend payout ratio (DPR) is 28.78%.

Wall Street Analyst Weigh In

OLN has been the topic of a number of recent research reports. Piper Sandler dropped their price objective on shares of Olin from $75.00 to $57.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 30th. Mizuho assumed coverage on Olin in a report on Thursday, August 8th. They issued a “neutral” rating and a $45.00 price target on the stock. Wells Fargo & Company decreased their price objective on Olin from $50.00 to $48.00 and set an “equal weight” rating for the company in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft cut their target price on Olin from $57.00 to $48.00 and set a “hold” rating on the stock in a research note on Monday, July 29th. Finally, Bank of America lowered shares of Olin from a “buy” rating to a “neutral” rating and decreased their price target for the company from $62.00 to $51.00 in a research report on Monday, July 29th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $52.73.

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.