Ritholtz Wealth Management Sells 985 Shares of Olin Co. (NYSE:OLN)

Ritholtz Wealth Management cut its position in Olin Co. (NYSE:OLN) by 10.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,298 shares of the specialty chemicals company’s stock after selling 985 shares during the quarter. Ritholtz Wealth Management’s holdings in Olin were worth $391,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of OLN. LRI Investments LLC bought a new position in Olin in the first quarter valued at about $28,000. EverSource Wealth Advisors LLC raised its position in Olin by 4,375.0% in the first quarter. EverSource Wealth Advisors LLC now owns 537 shares of the specialty chemicals company’s stock valued at $32,000 after purchasing an additional 525 shares during the last quarter. nVerses Capital LLC bought a new position in Olin in the second quarter valued at about $33,000. Fifth Third Bancorp increased its stake in shares of Olin by 30.0% in the first quarter. Fifth Third Bancorp now owns 858 shares of the specialty chemicals company’s stock valued at $50,000 after buying an additional 198 shares during the period. Finally, Quarry LP acquired a new stake in shares of Olin in the fourth quarter valued at about $50,000. 88.67% of the stock is currently owned by institutional investors.

Olin Trading Down 0.8 %

NYSE OLN opened at $42.31 on Friday. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.43 and a quick ratio of 0.82. Olin Co. has a one year low of $40.26 and a one year high of $60.60. The business has a 50 day simple moving average of $44.84 and a 200 day simple moving average of $50.97. The stock has a market capitalization of $5.05 billion, a P/E ratio of 15.22, a P/E/G ratio of 0.95 and a beta of 1.41.

Olin (NYSE:OLN) last announced 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 firm had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same period last year, the business posted $1.13 EPS. The company’s revenue was down 3.5% on a year-over-year basis. Research analysts expect that Olin Co. will post 1.61 earnings per share for the current year.

Olin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Thursday, August 8th will be paid a $0.20 dividend. The ex-dividend date is Thursday, August 8th. This represents a $0.80 dividend on an annualized basis and a yield of 1.89%. Olin’s dividend payout ratio (DPR) is presently 28.78%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on OLN. Bank of America cut Olin from a “buy” rating to a “neutral” rating and decreased their price target for the company from $62.00 to $51.00 in a research note on Monday, July 29th. BMO Capital Markets began coverage on Olin in a research note on Tuesday. They issued a “market perform” rating and a $50.00 price target for the company. Mizuho began coverage on Olin in a research note on Thursday, August 8th. They issued a “neutral” rating and a $45.00 price target for the company. KeyCorp decreased their price target on Olin from $69.00 to $62.00 and set an “overweight” rating for the company in a research note on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on Olin from $57.00 to $48.00 and set a “hold” rating for the company in a research note on Monday, July 29th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $52.73.

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.