Mutual of America Capital Management LLC Trims Position in Olin Co. (NYSE:OLN)

Mutual of America Capital Management LLC reduced its position in Olin Co. (NYSE:OLN) by 4.5% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 68,375 shares of the specialty chemicals company’s stock after selling 3,246 shares during the period. Mutual of America Capital Management LLC owned about 0.06% of Olin worth $3,224,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of OLN. LRI Investments LLC acquired a new position in Olin in the first quarter valued at $28,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Olin by 4,375.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 537 shares of the specialty chemicals company’s stock worth $32,000 after acquiring an additional 525 shares during the period. nVerses Capital LLC acquired a new stake in shares of Olin in the second quarter worth approximately $33,000. Quarry LP purchased a new stake in Olin in the fourth quarter valued at approximately $50,000. Finally, Headlands Technologies LLC acquired a new position in Olin during the first quarter worth approximately $69,000. 88.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on OLN shares. Bank of America downgraded shares of Olin from a “buy” rating to a “neutral” rating and decreased their target price for the company from $62.00 to $51.00 in a research note on Monday, July 29th. JPMorgan Chase & Co. raised shares of Olin from a “neutral” rating to an “overweight” rating and set a $55.00 price objective for the company in a report on Monday, July 29th. Barclays cut their target price on shares of Olin from $59.00 to $49.00 and set an “equal weight” rating on the stock in a research note on Monday, July 29th. Mizuho assumed coverage on Olin in a report on Thursday, August 8th. They issued a “neutral” rating and a $45.00 price objective for the company. Finally, UBS Group reduced their target price on Olin from $59.00 to $51.00 and set a “neutral” rating on the stock in a report on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Olin has an average rating of “Hold” and an average target price of $52.73.

Olin Trading Up 0.9 %

Olin stock opened at $44.51 on Tuesday. 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 50-day moving average price of $43.77 and a two-hundred day moving average price of $49.95. The firm has a market capitalization of $5.32 billion, a price-to-earnings ratio of 16.01, a PEG 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.

Olin (NYSE:OLN) last posted 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 company had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.71 billion. Olin had a return on equity of 11.73% and a net margin of 4.26%. 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 company earned $1.13 EPS. Sell-side analysts expect that Olin Co. will post 1.61 earnings per share for the current year.

Olin Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Thursday, August 8th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.80%. Olin’s dividend payout ratio is presently 28.78%.

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.