Xponance Inc. Sells 1,532 Shares of Olin Co. (NYSE:OLN)

Xponance Inc. lessened its stake in shares of Olin Co. (NYSE:OLN) by 10.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,877 shares of the specialty chemicals company’s stock after selling 1,532 shares during the quarter. Xponance Inc.’s holdings in Olin were worth $607,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Balyasny Asset Management L.P. lifted its position in shares of Olin by 218.6% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,649,273 shares of the specialty chemicals company’s stock worth $88,978,000 after purchasing an additional 1,131,674 shares during the period. Boston Partners boosted its stake in Olin by 7.7% during the 1st quarter. Boston Partners now owns 5,414,265 shares of the specialty chemicals company’s stock valued at $317,897,000 after purchasing an additional 384,888 shares during the last quarter. Bank of Nova Scotia bought a new stake in Olin in the 4th quarter worth about $12,628,000. Lodge Hill Capital LLC grew its stake in shares of Olin by 78.9% in the first quarter. Lodge Hill Capital LLC now owns 510,000 shares of the specialty chemicals company’s stock worth $29,988,000 after acquiring an additional 225,000 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC lifted its position in Olin by 3.2% during the fourth 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. Institutional investors own 88.67% of the company’s stock.

Olin Price Performance

Shares of OLN stock opened at $48.97 on Monday. Olin Co. has a twelve month low of $39.47 and a twelve 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. The stock has a fifty day simple moving average of $43.58 and a two-hundred day simple moving average of $49.73. The stock has a market capitalization of $5.76 billion, a price-to-earnings ratio of 17.62, a P/E/G 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 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.08). The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.71 billion. Olin had a net margin of 4.26% and a return on equity of 11.73%. The company’s revenue was down 3.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.13 earnings per share. On average, analysts predict that Olin Co. will post 1.61 EPS 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 given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date was Thursday, August 8th. Olin’s payout ratio is presently 28.78%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Wells Fargo & Company reduced their price target on shares of Olin from $50.00 to $48.00 and set an “equal weight” rating for the company in a research report on Monday, July 29th. JPMorgan Chase & Co. upgraded shares of Olin from a “neutral” rating to an “overweight” rating and set a $55.00 price objective on the stock in a research report on Monday, July 29th. The Goldman Sachs Group decreased their target price on Olin from $55.00 to $49.00 and set a “neutral” rating on the stock in a research report on Monday, July 29th. Barclays decreased their price target on shares of Olin from $59.00 to $49.00 and set an “equal weight” rating on the stock in a research note on Monday, July 29th. Finally, Royal Bank of Canada dropped their target price on Olin from $61.00 to $52.00 and set an “outperform” rating for the company in a 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 issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target 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.