First Hawaiian Bank Buys 1,140 Shares of Olin Co. (NYSE:OLN)

First Hawaiian Bank grew its stake in shares of Olin Co. (NYSE:OLN) by 7.0% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 17,471 shares of the specialty chemicals company’s stock after acquiring an additional 1,140 shares during the quarter. First Hawaiian Bank’s holdings in Olin were worth $1,027,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Covestor Ltd lifted its position in Olin by 76.7% during the third quarter. Covestor Ltd now owns 659 shares of the specialty chemicals company’s stock worth $33,000 after purchasing an additional 286 shares during the period. Sandy Spring Bank lifted its holdings in shares of Olin by 145.6% during the 4th quarter. Sandy Spring Bank now owns 614 shares of the specialty chemicals company’s stock worth $33,000 after acquiring an additional 364 shares during the period. Quarry LP acquired a new stake in shares of Olin during the 4th quarter worth approximately $50,000. ORG Partners LLC increased its stake in Olin by 1,100.0% in the fourth quarter. ORG Partners LLC now owns 960 shares of the specialty chemicals company’s stock valued at $52,000 after acquiring an additional 880 shares during the last quarter. Finally, GAMMA Investing LLC acquired a new position in Olin during the fourth quarter valued at approximately $96,000. 88.67% of the stock is owned by institutional investors and hedge funds.

Olin Trading Down 0.5 %

NYSE OLN opened at $49.22 on Friday. The firm has a market capitalization of $5.88 billion, a PE ratio of 17.71, a price-to-earnings-growth ratio of 0.29 and a beta of 1.47. The business’s 50-day moving average price is $53.19 and its two-hundred day moving average price is $53.56. The company has a current ratio of 1.38, a quick ratio of 0.80 and a debt-to-equity ratio of 1.22. Olin Co. has a 12 month low of $41.71 and a 12 month high of $60.60.

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

Olin Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Thursday, May 9th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.63%. The ex-dividend date of this dividend was Wednesday, May 8th. Olin’s dividend payout ratio (DPR) is presently 28.78%.

Wall Street Analysts Forecast Growth

OLN has been the topic of several recent analyst reports. Royal Bank of Canada decreased their price target on Olin from $69.00 to $63.00 and set an “outperform” rating on the stock in a research note on Monday, April 29th. KeyCorp decreased their target price on Olin from $78.00 to $73.00 and set an “overweight” rating on the stock in a research report on Monday, April 29th. Stifel Nicolaus increased their target price on shares of Olin from $68.00 to $69.00 and gave the stock a “buy” rating in a report on Monday, April 29th. Piper Sandler lifted their price target on shares of Olin from $72.00 to $75.00 and gave the company an “overweight” rating in a report on Monday, April 29th. Finally, Barclays increased 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. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $60.00.

Olin Company 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.