First Citizens Bank & Trust Co. bought a new stake in Olin Co. (NYSE:OLN) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 16,796 shares of the specialty chemicals company’s stock, valued at approximately $389,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Lavaca Capital LLC acquired a new position in Olin in the fourth quarter worth about $29,000. JOYN Advisors Inc. raised its position in Olin by 743.3% in the fourth quarter. JOYN Advisors Inc. now owns 1,813 shares of the specialty chemicals company’s stock worth $36,000 after purchasing an additional 1,598 shares in the last quarter. Nalls Sherbakoff Group LLC acquired a new position in Olin in the fourth quarter worth about $50,000. Pflug Koory LLC raised its position in Olin by 29.8% in the fourth quarter. Pflug Koory LLC now owns 2,985 shares of the specialty chemicals company’s stock worth $60,000 after purchasing an additional 685 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund raised its position in Olin by 1,911.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,332,529 shares of the specialty chemicals company’s stock worth $66,000 after purchasing an additional 1,266,267 shares in the last quarter. Institutional investors and hedge funds own 87.30% of the company’s stock.
Several research analysts recently issued reports on the stock. Zacks Investment Research raised shares of Olin from a “sell” rating to a “hold” rating in a research report on Friday, January 4th. ValuEngine raised shares of Olin from a “sell” rating to a “hold” rating in a research report on Wednesday, February 13th. Cowen reissued an “outperform” rating and issued a $32.00 price target on shares of Olin in a research report on Wednesday, February 6th. Nomura lowered shares of Olin from a “neutral” rating to a “reduce” rating and dropped their price target for the stock from $23.00 to $22.00 in a research report on Wednesday, January 30th. Finally, KeyCorp assumed coverage on shares of Olin in a research report on Monday, January 28th. They issued an “overweight” rating and a $30.00 price target for the company. Two research analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company’s stock. Olin has an average rating of “Hold” and an average target price of $29.55.
NYSE OLN opened at $25.20 on Tuesday. The company has a market cap of $4.09 billion, a PE ratio of 14.40, a PEG ratio of 0.41 and a beta of 1.59. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.53 and a quick ratio of 0.89. Olin Co. has a 1-year low of $17.87 and a 1-year high of $34.42.
Olin (NYSE:OLN) last posted its quarterly earnings data on Monday, February 4th. The specialty chemicals company reported $0.32 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.02). The firm had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.70 billion. Olin had a return on equity of 10.42% and a net margin of 4.72%. The business’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the previous year, the business posted $2.89 EPS. Equities analysts predict that Olin Co. will post 1.91 earnings per share for the current year.
In other news, VP Brett A. Flaugher sold 12,500 shares of the firm’s stock in a transaction that occurred on Friday, February 22nd. The shares were sold at an average price of $26.53, for a total transaction of $331,625.00. Following the completion of the sale, the vice president now owns 40,629 shares of the company’s stock, valued at $1,077,887.37. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.90% of the company’s stock.
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Olin Corporation manufactures and distributes chemical products in the United States and internationally. 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, trichloroethylene and vinylidene chloride, hydrochloric acid, hydrogen, bleach products, potassium hydroxide, chlorinated organics intermediates and solvents, and sodium hypochlorite.The Epoxy segment provides allyl chloride and epichlorohydrin, as well as acetone, bisphenol, cumene, and phenol for use in resins and other plastic materials, water purification, and pesticides, as well as for the manufacturers of polymers; liquid and solid epoxy resins that are used in adhesives, paints and coatings, composites, and flooring; and differentiated epoxy resins for use in electrical laminates, paints and coatings, wind blades, electronics, and construction, as well as offers additives.
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