Amalgamated Bank Has $3.53 Million Position in Olin Co. (NYSE:OLN)

Amalgamated Bank cut its position in shares of Olin Co. (NYSE:OLN) by 10.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 74,844 shares of the specialty chemicals company’s stock after selling 8,482 shares during the period. Amalgamated Bank owned 0.06% of Olin worth $3,529,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Hotchkis & Wiley Capital Management LLC raised its stake in Olin by 3.2% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 6,602,331 shares of the specialty chemicals company’s stock valued at $356,196,000 after buying an additional 203,260 shares during the period. Boston Partners raised its stake in Olin by 7.7% in the 1st quarter. Boston Partners now owns 5,414,265 shares of the specialty chemicals company’s stock valued at $317,897,000 after acquiring an additional 384,888 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Olin by 5.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,741,007 shares of the specialty chemicals company’s stock valued at $176,396,000 after purchasing an additional 194,755 shares during the last quarter. Balyasny Asset Management L.P. boosted its position in Olin by 218.6% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,649,273 shares of the specialty chemicals company’s stock worth $88,978,000 after purchasing an additional 1,131,674 shares during the period. Finally, Norges Bank acquired a new position in shares of Olin in the fourth quarter valued at $76,125,000. 88.67% of the stock is owned by institutional investors.

Olin Stock Down 1.8 %

NYSE OLN opened at $44.10 on Monday. The business has a fifty day moving average price of $43.84 and a two-hundred day moving average price of $50.04. The stock has a market capitalization 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. 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 (NYSE:OLN) last released its quarterly earnings data on Thursday, July 25th. The specialty chemicals company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.08). The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.71 billion. Olin had a net margin of 4.26% and a return on equity of 11.73%. The business’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same period last year, the business earned $1.13 earnings per share. Equities analysts expect that Olin Co. will post 1.61 earnings per share for the current fiscal year.

Olin Announces Dividend

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

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. BMO Capital Markets began coverage on shares of Olin in a report on Tuesday, September 3rd. They set a “market perform” rating and a $50.00 target price for the company. Piper Sandler decreased their target price on Olin from $75.00 to $57.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft dropped their price target on Olin from $57.00 to $48.00 and set a “hold” rating for the company in a report on Monday, July 29th. The Goldman Sachs Group decreased their price objective on Olin from $55.00 to $49.00 and set a “neutral” rating on the stock in a report on Monday, July 29th. Finally, UBS Group lowered their price objective 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 equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price 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.