Olin Co. (NYSE:OLN) Shares Purchased by Hsbc Holdings PLC

Hsbc Holdings PLC boosted its position in Olin Co. (NYSE:OLN) by 49.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 268,233 shares of the specialty chemicals company’s stock after acquiring an additional 89,178 shares during the quarter. Hsbc Holdings PLC owned 0.22% of Olin worth $12,737,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV raised its holdings in shares of Olin by 42.7% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 6,729 shares of the specialty chemicals company’s stock valued at $317,000 after purchasing an additional 2,014 shares in the last quarter. Edgestream Partners L.P. acquired a new stake in Olin in the second quarter valued at $732,000. 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 worth $176,396,000 after buying an additional 194,755 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Olin by 4.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 97,906 shares of the specialty chemicals company’s stock worth $4,616,000 after acquiring an additional 4,345 shares in the last quarter. Finally, Federated Hermes Inc. increased its holdings in shares of Olin by 9.5% in the 2nd quarter. Federated Hermes Inc. now owns 17,475 shares of the specialty chemicals company’s stock valued at $824,000 after acquiring an additional 1,517 shares during the last quarter. Hedge funds and other institutional investors own 88.67% of the company’s stock.

Olin Trading Down 1.8 %

Shares of Olin stock opened at $44.10 on Monday. The company has a quick ratio of 0.82, a current ratio of 1.43 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 price-to-earnings-growth ratio of 0.94 and a beta of 1.41. Olin Co. has a 52-week low of $39.47 and a 52-week high of $60.60. The company’s 50-day simple moving average is $43.84 and its 200-day simple moving average is $50.04.

Olin (NYSE:OLN) last issued its 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). Olin had a return on equity of 11.73% and a net margin of 4.26%. The business had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same period last year, the company posted $1.13 earnings per share. The business’s quarterly revenue was down 3.5% on a year-over-year basis. As a group, equities research analysts anticipate that Olin Co. will post 1.61 earnings per share for the current year.

Olin Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. UBS Group lowered their target price on shares of 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 started coverage on Olin in a report on Tuesday, September 3rd. They issued a “market perform” rating and a $50.00 target price for the company. Royal Bank of Canada decreased their target price on Olin from $61.00 to $52.00 and set an “outperform” rating for the company in a research report on Monday, July 29th. The Goldman Sachs Group cut 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. Finally, Mizuho began coverage on Olin in a report on Thursday, August 8th. They issued a “neutral” rating and a $45.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target 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.