M3 Advisory Group LLC Sells 974 Shares of Olin Co. (NYSE:OLN)

M3 Advisory Group LLC lowered its stake in shares of Olin Co. (NYSE:OLN) by 4.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,503 shares of the specialty chemicals company’s stock after selling 974 shares during the period. Olin accounts for 0.7% of M3 Advisory Group LLC’s investment portfolio, making the stock its 29th biggest holding. M3 Advisory Group LLC’s holdings in Olin were worth $984,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in OLN. LRI Investments LLC purchased a new stake in Olin in the first quarter valued at approximately $28,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Olin by 4,375.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 537 shares of the specialty chemicals company’s stock worth $32,000 after acquiring an additional 525 shares during the last quarter. nVerses Capital LLC purchased a new position in Olin in the second quarter worth $33,000. Denver PWM LLC bought a new position in Olin in the second quarter valued at $59,000. Finally, Mather Group LLC. raised its position in Olin by 1,364.4% during the second quarter. Mather Group LLC. now owns 1,274 shares of the specialty chemicals company’s stock valued at $60,000 after purchasing an additional 1,187 shares in the last quarter. Institutional investors own 88.67% of the company’s stock.

Olin Stock Performance

Olin stock traded down $0.04 during mid-day trading on Friday, reaching $47.37. 64,570 shares of the stock traded hands, compared to its average volume of 1,134,515. Olin Co. has a 12-month low of $39.47 and a 12-month high of $60.60. The business’s 50-day moving average is $44.34 and its 200-day moving average is $48.79. 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 stock has a market capitalization of $5.66 billion, a PE ratio of 17.05, a price-to-earnings-growth ratio of 1.02 and a beta of 1.41.

Olin (NYSE:OLN) last posted its quarterly earnings results on Thursday, July 25th. The specialty chemicals company reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.08). The firm 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 business’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.13 earnings per share. As a group, sell-side analysts predict that Olin Co. will post 1.61 EPS for the current fiscal year.

Olin Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Thursday, August 8th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date was Thursday, August 8th. Olin’s dividend payout ratio (DPR) is 28.78%.

Analyst Ratings Changes

A number of research firms recently weighed in on OLN. JPMorgan Chase & Co. upgraded Olin from a “neutral” rating to an “overweight” rating and set a $55.00 target price for the company in a research report on Monday, July 29th. Bank of America lowered shares of Olin from a “buy” rating to a “neutral” rating and lowered their price target for the company from $62.00 to $51.00 in a report on Monday, July 29th. Barclays cut their price target on shares of Olin from $59.00 to $49.00 and set an “equal weight” rating on the stock in a report on Monday, July 29th. Wells Fargo & Company lowered their price target on Olin from $50.00 to $48.00 and set an “equal weight” rating for the company in a research report on Monday, July 29th. Finally, KeyCorp cut their price objective on Olin from $62.00 to $57.00 and set an “overweight” rating on the stock in a research report on Monday, October 7th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $52.40.

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.