Huber Capital Management LLC Lowers Holdings in Olin Co. (NYSE:OLN)

Huber Capital Management LLC lowered its position in shares of Olin Co. (NYSE:OLN) by 49.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 89,259 shares of the specialty chemicals company’s stock after selling 87,402 shares during the period. Huber Capital Management LLC owned about 0.07% of Olin worth $4,209,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in OLN. Private Advisor Group LLC lifted its position in shares of Olin by 23.5% in 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. Janney Montgomery Scott LLC purchased a new stake in Olin during the fourth quarter worth $1,204,000. Norges Bank purchased a new stake in Olin during the fourth quarter worth $76,125,000. Assetmark Inc. boosted its position in Olin by 20.6% during the 4th quarter. Assetmark Inc. now owns 66,490 shares of the specialty chemicals company’s stock valued at $3,587,000 after acquiring an additional 11,363 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of Olin by 67.6% in the 4th quarter. Franklin Resources Inc. now owns 663,202 shares of the specialty chemicals company’s stock valued at $35,780,000 after acquiring an additional 267,460 shares during the period. 88.67% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on OLN. KeyCorp dropped their price objective on Olin from $69.00 to $62.00 and set an “overweight” rating on the stock in a research report on Monday, July 29th. Mizuho started coverage on shares of Olin in a research report on Thursday, August 8th. They issued a “neutral” rating and a $45.00 price objective on the stock. JPMorgan Chase & Co. raised shares of 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. BMO Capital Markets started coverage on shares of Olin in a report on Tuesday, September 3rd. They issued a “market perform” rating and a $50.00 price target on the stock. Finally, UBS Group reduced their price target on Olin from $59.00 to $51.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $52.73.

Olin Stock Down 1.8 %

Olin stock opened at $44.10 on Friday. The business’s 50-day simple moving average is $43.84 and its two-hundred day simple moving average is $50.11. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.82 and a current ratio of 1.43. The company has a market cap of $5.18 billion, a PE ratio of 15.86, a PEG ratio of 0.94 and a beta of 1.41. Olin Co. has a fifty-two week low of $39.47 and a fifty-two week high of $60.60.

Olin (NYSE:OLN) last issued its earnings results 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 firm had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the prior year, the company earned $1.13 EPS. Olin’s quarterly revenue was down 3.5% on a year-over-year basis. Equities analysts anticipate that Olin Co. will post 1.61 EPS for the current year.

Olin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Thursday, August 8th were paid a $0.20 dividend. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.81%. Olin’s payout ratio is currently 28.78%.

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.