Olin Co. (NYSE:OLN) Shares Sold by American Century Companies Inc.

American Century Companies Inc. lowered its position in shares of Olin Co. (NYSE:OLN) by 27.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 209,576 shares of the specialty chemicals company’s stock after selling 77,898 shares during the quarter. American Century Companies Inc. owned about 0.18% of Olin worth $9,882,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of OLN. Janney Montgomery Scott LLC acquired a new stake in Olin during the fourth quarter valued at approximately $1,204,000. Norges Bank acquired a new stake in shares of Olin during the 4th quarter worth approximately $76,125,000. Franklin Resources Inc. raised its position in shares of Olin by 67.6% during the 4th quarter. Franklin Resources Inc. now owns 663,202 shares of the specialty chemicals company’s stock worth $35,780,000 after purchasing an additional 267,460 shares during the period. US Bancorp DE raised its position in shares of Olin by 4.5% during the 4th quarter. US Bancorp DE now owns 11,703 shares of the specialty chemicals company’s stock worth $631,000 after purchasing an additional 507 shares during the period. Finally, TFO Wealth Partners LLC raised its position in shares of Olin by 84,342.9% during the 4th quarter. TFO Wealth Partners LLC now owns 5,911 shares of the specialty chemicals company’s stock worth $319,000 after purchasing an additional 5,904 shares during the period. Institutional investors and hedge funds own 88.67% of the company’s stock.

Olin Stock Performance

Shares of NYSE OLN opened at $44.10 on Monday. The stock has a fifty day moving average price of $43.84 and a two-hundred day moving average price of $50.04. 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 firm has a market cap of $5.18 billion, a P/E ratio of 15.86, a PEG ratio of 0.94 and a beta of 1.41. Olin Co. has a 1 year low of $39.47 and a 1 year high of $60.60.

Olin (NYSE:OLN) last issued its quarterly earnings results on Thursday, July 25th. The specialty chemicals company reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.08). The firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.71 billion. Olin had a net margin of 4.26% and a return on equity of 11.73%. The business’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.13 earnings per share. Research analysts forecast that Olin Co. will post 1.61 EPS for the current fiscal year.

Olin Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Bank of America cut Olin from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $62.00 to $51.00 in a research report on Monday, July 29th. The Goldman Sachs Group dropped their price target on Olin from $55.00 to $49.00 and set a “neutral” rating on the stock in a research report on Monday, July 29th. Mizuho started coverage on Olin in a research report on Thursday, August 8th. They set a “neutral” rating and a $45.00 price target on the stock. Piper Sandler decreased their price objective on Olin from $75.00 to $57.00 and set an “overweight” rating for the company in a report on Tuesday, July 30th. Finally, KeyCorp decreased their price objective on Olin from $69.00 to $62.00 and set an “overweight” rating for the company in a report on Monday, July 29th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $52.73.

About Olin

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.