Olin Co. (NYSE:OLN) Position Raised by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV raised its position in shares of Olin Co. (NYSE:OLN) by 42.7% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,729 shares of the specialty chemicals company’s stock after purchasing an additional 2,014 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Olin were worth $317,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Harbor Capital Advisors Inc. lifted its holdings in shares of Olin by 344.3% in the second quarter. Harbor Capital Advisors Inc. now owns 40,760 shares of the specialty chemicals company’s stock valued at $1,922,000 after buying an additional 31,587 shares during the period. CastleKnight Management LP acquired a new stake in Olin in the 4th quarter valued at about $1,014,000. Bridgewater Associates LP lifted its holdings in Olin by 36.6% in the 4th quarter. Bridgewater Associates LP now owns 321,891 shares of the specialty chemicals company’s stock valued at $17,366,000 after acquiring an additional 86,214 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of Olin by 1,220.6% during the 2nd quarter. SG Americas Securities LLC now owns 50,050 shares of the specialty chemicals company’s stock valued at $2,360,000 after purchasing an additional 46,260 shares in the last quarter. Finally, Clearbridge Investments LLC grew its stake in shares of Olin by 4.8% in the 1st quarter. Clearbridge Investments LLC now owns 777,658 shares of the specialty chemicals company’s stock worth $45,726,000 after purchasing an additional 35,637 shares during the last quarter. 88.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have issued reports on OLN. Royal Bank of Canada decreased their price target on shares of Olin from $61.00 to $52.00 and set an “outperform” rating on the stock in a research report on Monday, July 29th. Bank of America lowered 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. The Goldman Sachs Group cut their price objective on Olin from $55.00 to $49.00 and set a “neutral” rating on the stock in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Olin from $57.00 to $48.00 and set a “hold” rating on the stock in a research report on Monday, July 29th. Finally, Barclays reduced their price target on shares of Olin from $59.00 to $49.00 and set an “equal weight” rating for the company in a research report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $52.73.

Olin Stock Performance

Shares of NYSE OLN opened at $48.97 on Monday. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.43 and a quick ratio of 0.82. Olin Co. has a one year low of $39.47 and a one year high of $60.60. The business’s 50-day moving average price is $43.58 and its two-hundred day moving average price is $49.73. The company has a market capitalization of $5.76 billion, a P/E ratio of 17.62, a price-to-earnings-growth ratio of 1.00 and a beta of 1.41.

Olin (NYSE:OLN) last announced its quarterly earnings results on Thursday, July 25th. The specialty chemicals company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.08). The firm 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%. The company’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.13 EPS. Analysts anticipate that Olin Co. will post 1.61 earnings per share for the current fiscal year.

Olin Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Thursday, August 8th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.63%. Olin’s dividend payout ratio is currently 28.78%.

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.