Olin Co. (NYSE:OLN) Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp increased its holdings in shares of Olin Co. (NYSE:OLN) by 2.5% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,373,519 shares of the specialty chemicals company’s stock after purchasing an additional 33,143 shares during the quarter. Bank of New York Mellon Corp owned 1.15% of Olin worth $64,761,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of OLN. LRI Investments LLC purchased a new stake in shares of Olin during the 1st quarter valued at about $28,000. EverSource Wealth Advisors LLC raised its stake in shares of Olin by 4,375.0% during 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 during the period. Fifth Third Bancorp lifted its position in shares of Olin by 30.0% during the first quarter. Fifth Third Bancorp now owns 858 shares of the specialty chemicals company’s stock worth $50,000 after purchasing an additional 198 shares in the last quarter. Quarry LP purchased a new position in shares of Olin in the fourth quarter valued at $50,000. Finally, Headlands Technologies LLC acquired a new stake in Olin during the 1st quarter valued at $69,000. Hedge funds and other institutional investors own 88.67% of the company’s stock.

Analyst Ratings Changes

OLN has been the subject of a number of analyst reports. Wells Fargo & Company decreased their price objective 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. Royal Bank of Canada cut their target price on Olin from $61.00 to $52.00 and set an “outperform” rating on the stock in a research report on Monday, July 29th. UBS Group decreased their price target on shares of Olin from $59.00 to $51.00 and set a “neutral” rating for the company in a research report on Tuesday, July 9th. KeyCorp cut their price target on shares of Olin from $69.00 to $62.00 and set an “overweight” rating on the stock in a report on Monday, July 29th. Finally, Barclays decreased their price objective on shares of Olin from $59.00 to $49.00 and set an “equal weight” rating for the company in a report on Monday, July 29th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Olin presently has an average rating of “Hold” and a consensus price target of $53.27.

Olin Price Performance

OLN opened at $43.67 on Friday. The company has a quick ratio of 0.82, a current ratio of 1.43 and a debt-to-equity ratio of 1.29. The company’s 50-day moving average price is $45.17 and its 200 day moving average price is $51.16. Olin Co. has a fifty-two week low of $40.26 and a fifty-two week high of $60.60. The firm has a market cap of $5.22 billion, a price-to-earnings ratio of 15.71, a price-to-earnings-growth ratio of 0.92 and a beta of 1.44.

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 the consensus estimate of $0.70 by ($0.08). The company had revenue of $1.64 billion during 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 for the quarter was down 3.5% on a year-over-year basis. During the same period last year, the business posted $1.13 EPS. As a group, sell-side analysts expect that Olin Co. will post 1.61 earnings per share for the current year.

Olin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Thursday, August 8th will be given a dividend of $0.20 per share. The ex-dividend date is Thursday, August 8th. This represents a $0.80 annualized dividend and a dividend yield of 1.83%. Olin’s dividend payout ratio is currently 28.78%.

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.