Bank of Montreal Can Has $3.87 Million Position in Olin Co. (NYSE:OLN)

Bank of Montreal Can grew its holdings in Olin Co. (NYSE:OLN) by 219.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 81,080 shares of the specialty chemicals company’s stock after purchasing an additional 55,735 shares during the quarter. Bank of Montreal Can owned about 0.07% of Olin worth $3,867,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. OLD National Bancorp IN lifted its stake in Olin by 4.2% in the second quarter. OLD National Bancorp IN now owns 6,343 shares of the specialty chemicals company’s stock valued at $299,000 after buying an additional 253 shares during the period. Scott & Selber Inc. lifted its position in shares of Olin by 1.7% during the 2nd quarter. Scott & Selber Inc. now owns 19,206 shares of the specialty chemicals company’s stock valued at $906,000 after acquiring an additional 326 shares during the period. LRI Investments LLC bought a new position in Olin during the first quarter worth $28,000. US Bancorp DE grew its holdings in Olin by 4.5% in the fourth quarter. US Bancorp DE now owns 11,703 shares of the specialty chemicals company’s stock worth $631,000 after purchasing an additional 507 shares during the period. Finally, EverSource Wealth Advisors LLC increased its stake in Olin by 4,375.0% in the first quarter. EverSource Wealth Advisors LLC now owns 537 shares of the specialty chemicals company’s stock valued at $32,000 after purchasing an additional 525 shares in the last quarter. Institutional investors own 88.67% of the company’s stock.

Olin Trading Down 1.2 %

Shares of OLN stock opened at $47.03 on Thursday. 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 company has a market capitalization of $5.53 billion, a price-to-earnings ratio of 16.92, a PEG ratio of 1.06 and a beta of 1.41. Olin Co. has a 52-week low of $39.47 and a 52-week high of $60.60. The company has a 50-day simple moving average of $43.56 and a two-hundred day simple moving average of $49.51.

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

Olin Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Thursday, August 8th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend was Thursday, August 8th. Olin’s payout ratio is 28.78%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised 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. UBS Group decreased their price objective on Olin from $59.00 to $51.00 and set a “neutral” rating for the company in a report on Tuesday, July 9th. KeyCorp lowered their target price on Olin from $69.00 to $62.00 and set an “overweight” rating on the stock in a research report on Monday, July 29th. The Goldman Sachs Group reduced their price target on shares of Olin from $55.00 to $49.00 and set a “neutral” rating for the company in a research report on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Olin from $57.00 to $48.00 and set a “hold” rating on the stock in a report on Monday, July 29th. One analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $52.73.

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.