Founders Financial Alliance LLC Cuts Position in Olin Co. (NYSE:OLN)

Founders Financial Alliance LLC decreased its position in shares of Olin Co. (NYSE:OLN) by 44.3% during the second quarter, HoldingsChannel reports. The firm owned 5,548 shares of the specialty chemicals company’s stock after selling 4,410 shares during the period. Founders Financial Alliance LLC’s holdings in Olin were worth $262,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. OLD National Bancorp IN increased its position in shares of Olin by 4.2% during the 2nd quarter. OLD National Bancorp IN now owns 6,343 shares of the specialty chemicals company’s stock valued at $299,000 after purchasing an additional 253 shares during the last quarter. Scott & Selber Inc. grew its position in Olin by 1.7% during the second 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 last quarter. LRI Investments LLC purchased a new position in shares of Olin during the first quarter worth approximately $28,000. US Bancorp DE lifted its holdings in shares of Olin by 4.5% in the 4th quarter. US Bancorp DE now owns 11,703 shares of the specialty chemicals company’s stock worth $631,000 after acquiring an additional 507 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Olin by 4,375.0% in the 1st 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 Stock Performance

Shares of OLN opened at $47.62 on Wednesday. The company has a 50-day simple moving average of $43.58 and a two-hundred day simple moving average of $49.60. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.43 and a quick ratio of 0.82. The firm has a market capitalization of $5.60 billion, a PE ratio of 17.13, a price-to-earnings-growth ratio of 1.00 and a beta of 1.41. Olin Co. has a one year low of $39.47 and a one year high of $60.60.

Olin (NYSE:OLN) last released its quarterly earnings results on Thursday, July 25th. The specialty chemicals company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.08). The firm had revenue of $1.64 billion for 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 revenue for the quarter was down 3.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.13 earnings per share. On average, analysts anticipate that Olin Co. will post 1.61 EPS for the current fiscal year.

Olin Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Thursday, August 8th were paid a $0.20 dividend. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $0.80 annualized dividend and a dividend yield of 1.68%. Olin’s payout ratio is 28.78%.

Analyst Ratings Changes

Several research firms have weighed in on OLN. Piper Sandler lowered their price target on shares of Olin from $75.00 to $57.00 and set an “overweight” rating for the company in a research note on Tuesday, July 30th. Wells Fargo & Company lowered their target price 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. Barclays reduced their price target on Olin from $59.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Monday, July 29th. The Goldman Sachs Group lowered their price objective on Olin from $55.00 to $49.00 and set a “neutral” rating for the company in a research report on Monday, July 29th. Finally, Mizuho started coverage on shares of Olin in a report on Thursday, August 8th. They issued a “neutral” rating and a $45.00 target price on the stock. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Olin has a consensus rating of “Hold” and a consensus target price of $52.73.

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.