American International Group Inc. Has $8.93 Million Holdings in Olin Co. (NYSE:OLN)

American International Group Inc. lowered its position in shares of Olin Co. (NYSE:OLN) by 6.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 165,535 shares of the specialty chemicals company’s stock after selling 11,769 shares during the quarter. American International Group Inc. owned 0.14% of Olin worth $8,931,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in OLN. Covestor Ltd increased its stake in Olin by 76.7% in the 3rd quarter. Covestor Ltd now owns 659 shares of the specialty chemicals company’s stock valued at $33,000 after buying an additional 286 shares during the period. Sandy Spring Bank increased its stake in Olin by 145.6% in the 4th quarter. Sandy Spring Bank now owns 614 shares of the specialty chemicals company’s stock valued at $33,000 after buying an additional 364 shares during the period. Quarry LP acquired a new position in Olin in the 4th quarter valued at approximately $50,000. ORG Partners LLC increased its stake in Olin by 1,100.0% in the 4th quarter. ORG Partners LLC now owns 960 shares of the specialty chemicals company’s stock valued at $52,000 after buying an additional 880 shares during the period. Finally, GAMMA Investing LLC acquired a new position in Olin in the 4th quarter valued at approximately $96,000. Institutional investors and hedge funds own 88.67% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on OLN shares. Barclays upped their price objective on shares of Olin from $57.00 to $59.00 and gave the company an “equal weight” rating in a research note on Thursday, April 4th. Piper Sandler increased their price target on shares of Olin from $72.00 to $75.00 and gave the stock an “overweight” rating in a research note on Monday, April 29th. Stifel Nicolaus increased their price target on shares of Olin from $68.00 to $69.00 and gave the stock a “buy” rating in a research note on Monday, April 29th. Royal Bank of Canada dropped their price target on shares of Olin from $69.00 to $63.00 and set an “outperform” rating on the stock in a research note on Monday, April 29th. Finally, Bank of America dropped their price target on shares of Olin from $74.00 to $72.00 and set a “buy” rating on the stock in a research note on Monday, April 29th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $60.00.

Olin Price Performance

Shares of Olin stock opened at $49.49 on Wednesday. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.38 and a quick ratio of 0.80. Olin Co. has a fifty-two week low of $41.71 and a fifty-two week high of $60.60. The firm has a fifty day moving average price of $53.47 and a two-hundred day moving average price of $53.62. The company has a market cap of $5.91 billion, a PE ratio of 17.80, a price-to-earnings-growth ratio of 0.29 and a beta of 1.47.

Olin (NYSE:OLN) last issued its quarterly earnings results on Friday, April 26th. The specialty chemicals company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.02. Olin had a net margin of 5.32% and a return on equity of 14.47%. The firm had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the prior year, the firm earned $1.16 EPS. The business’s revenue was down 11.3% on a year-over-year basis. Analysts expect that Olin Co. will post 3.66 EPS for the current year.

Olin Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Thursday, May 9th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date of this dividend was Wednesday, May 8th. Olin’s dividend payout ratio (DPR) is presently 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.