Itau Unibanco Holding S.A. Purchases Shares of 1,786 Olin Co. (NYSE:OLN)

Itau Unibanco Holding S.A. bought a new position in Olin Co. (NYSE:OLN) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,786 shares of the specialty chemicals company’s stock, valued at approximately $84,000.

Several other hedge funds have also modified their holdings of OLN. LRI Investments LLC bought a new position in shares of Olin in the 1st quarter valued at about $28,000. EverSource Wealth Advisors LLC increased its position in Olin by 4,375.0% during the first quarter. EverSource Wealth Advisors LLC now owns 537 shares of the specialty chemicals company’s stock valued at $32,000 after acquiring an additional 525 shares during the last quarter. nVerses Capital LLC purchased a new stake in shares of Olin in the second quarter valued at $33,000. Quarry LP bought a new stake in shares of Olin in the 4th quarter worth about $50,000. Finally, Denver PWM LLC purchased a new position in shares of Olin during the 2nd quarter worth about $59,000. 88.67% of the stock is owned by hedge funds and other institutional investors.

Olin Trading Down 1.8 %

OLN opened at $44.10 on Monday. The company has a current ratio of 1.43, a quick ratio of 0.82 and a debt-to-equity ratio of 1.29. The firm has a market cap of $5.18 billion, a price-to-earnings ratio of 15.86, a PEG ratio of 0.94 and a beta of 1.41. Olin Co. has a 12 month low of $39.47 and a 12 month high of $60.60. The stock has a fifty day moving average price of $43.84 and a 200-day moving average price of $50.04.

Olin (NYSE:OLN) last released its quarterly earnings results on Thursday, July 25th. The specialty chemicals company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.08). The firm had revenue of $1.64 billion for the quarter, compared to analysts’ expectations 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 in the previous year, the company posted $1.13 earnings per share. As a group, equities research analysts anticipate that Olin Co. will post 1.61 earnings per share for the current fiscal year.

Olin Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders 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 dividend yield of 1.81%. The ex-dividend date of this dividend was Thursday, August 8th. Olin’s payout ratio is presently 28.78%.

Wall Street Analyst Weigh In

OLN has been the subject of several analyst reports. The Goldman Sachs Group decreased their price objective on shares of Olin from $55.00 to $49.00 and set a “neutral” rating for the company in a research note on Monday, July 29th. UBS Group dropped their price objective on Olin from $59.00 to $51.00 and set a “neutral” rating for the company in a report on Tuesday, July 9th. BMO Capital Markets began coverage on Olin in a research report on Tuesday, September 3rd. They issued a “market perform” rating and a $50.00 price objective on the stock. Barclays decreased their target price on Olin from $59.00 to $49.00 and set an “equal weight” rating for the company in a research report on Monday, July 29th. Finally, Wells Fargo & Company cut their price target on shares of Olin from $50.00 to $48.00 and set an “equal weight” rating on the stock in a report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued 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 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.