Larson Financial Group LLC Increases Stake in Olin Co. (NYSE:OLN)

Larson Financial Group LLC increased its stake in Olin Co. (NYSE:OLN) by 3.4% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,050 shares of the specialty chemicals company’s stock after purchasing an additional 914 shares during the period. Larson Financial Group LLC’s holdings in Olin were worth $1,323,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. International Assets Investment Management LLC raised its stake in shares of Olin by 4,395.8% in the fourth quarter. International Assets Investment Management LLC now owns 10,790 shares of the specialty chemicals company’s stock worth $582,000 after purchasing an additional 10,550 shares during the last quarter. Truist Financial Corp raised its holdings in shares of Olin by 34.1% during the fourth quarter. Truist Financial Corp now owns 16,552 shares of the specialty chemicals company’s stock worth $893,000 after purchasing an additional 4,212 shares during the last quarter. Amalgamated Bank boosted its holdings in Olin by 0.6% in the fourth quarter. Amalgamated Bank now owns 86,672 shares of the specialty chemicals company’s stock valued at $4,676,000 after purchasing an additional 552 shares during the last quarter. Private Advisor Group LLC grew its position in Olin by 23.5% during the 4th quarter. Private Advisor Group LLC now owns 5,512 shares of the specialty chemicals company’s stock worth $297,000 after purchasing an additional 1,048 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Olin by 1.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,207,937 shares of the specialty chemicals company’s stock valued at $65,168,000 after buying an additional 15,919 shares during the last quarter. Hedge funds and other institutional investors own 88.67% of the company’s stock.

Analyst Upgrades and Downgrades

OLN has been the topic of a number of recent research reports. BMO Capital Markets initiated coverage on Olin in a research note on Tuesday. They issued a “market perform” rating and a $50.00 target price on the stock. UBS Group decreased their target price on shares of Olin from $59.00 to $51.00 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. KeyCorp dropped their price target on shares of Olin from $69.00 to $62.00 and set an “overweight” rating on the stock in a research report on Monday, July 29th. Wells Fargo & Company cut their price objective on shares of Olin from $50.00 to $48.00 and set an “equal weight” rating for the company in a report on Monday, July 29th. Finally, The Goldman Sachs Group dropped their target price on Olin from $55.00 to $49.00 and set a “neutral” rating on the stock in a research report on Monday, July 29th. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $53.06.

Olin Stock Up 1.2 %

NYSE OLN opened at $42.65 on Thursday. 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 business’s fifty day simple moving average is $44.94 and its 200-day simple moving average is $51.02. Olin Co. has a 52 week low of $40.26 and a 52 week high of $60.60. The firm has a market cap of $5.01 billion, a PE ratio of 15.34, a P/E/G ratio of 0.95 and a beta of 1.41.

Olin (NYSE:OLN) last released its quarterly earnings data 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 during the quarter, compared to analyst estimates of $1.71 billion. During the same quarter in the prior year, the company posted $1.13 earnings per share. The company’s revenue was down 3.5% on a year-over-year basis. As a group, equities analysts anticipate that Olin Co. will post 1.61 earnings per share for the current year.

Olin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Thursday, August 8th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Thursday, August 8th. This represents a $0.80 annualized dividend and a yield of 1.88%. Olin’s dividend payout ratio (DPR) is currently 28.78%.

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.