Northwestern Mutual Wealth Management Co. Sells 241 Shares of Olin Co. (NYSE:OLN)

Northwestern Mutual Wealth Management Co. reduced its position in shares of Olin Co. (NYSE:OLN) by 1.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,434 shares of the specialty chemicals company’s stock after selling 241 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Olin were worth $586,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Balyasny Asset Management L.P. raised its stake in Olin by 218.6% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,649,273 shares of the specialty chemicals company’s stock valued at $88,978,000 after purchasing an additional 1,131,674 shares during the last quarter. AQR Capital Management LLC raised its stake in Olin by 429.8% during the 2nd quarter. AQR Capital Management LLC now owns 610,153 shares of the specialty chemicals company’s stock valued at $28,769,000 after purchasing an additional 494,976 shares during the last quarter. Boston Partners raised its stake in Olin by 7.7% during the 1st quarter. Boston Partners now owns 5,414,265 shares of the specialty chemicals company’s stock valued at $317,897,000 after purchasing an additional 384,888 shares during the last quarter. Lodge Hill Capital LLC raised its stake in Olin by 78.9% during the 1st quarter. Lodge Hill Capital LLC now owns 510,000 shares of the specialty chemicals company’s stock valued at $29,988,000 after purchasing an additional 225,000 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC raised its stake in Olin by 3.2% during the 4th 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 purchasing an additional 203,260 shares during the last quarter. 88.67% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. upgraded shares of Olin from a “neutral” rating to an “overweight” rating and set a $55.00 target price for the company in a research note on Monday, July 29th. Wells Fargo & Company dropped their price objective on shares of Olin from $50.00 to $48.00 and set an “equal weight” rating for the company in a research note on Monday, July 29th. KeyCorp dropped their price objective on shares of Olin from $62.00 to $57.00 and set an “overweight” rating for the company in a research note on Monday. Mizuho began coverage on shares of Olin in a research note on Thursday, August 8th. They issued a “neutral” rating and a $45.00 price objective for the company. Finally, Piper Sandler dropped their price objective on shares of Olin from $75.00 to $57.00 and set an “overweight” rating for the company in a research note on Tuesday, July 30th. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $52.40.

Olin Stock Down 0.0 %

Shares of NYSE:OLN opened at $47.96 on Tuesday. Olin Co. has a 12 month low of $39.47 and a 12 month high of $60.60. The company’s 50-day moving average price is $43.68 and its two-hundred day moving average price is $49.27. 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 $5.64 billion, a P/E ratio of 17.25, a P/E/G ratio of 1.02 and a beta of 1.41.

Olin (NYSE:OLN) last issued its quarterly earnings data on Thursday, July 25th. The specialty chemicals company reported $0.62 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 company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same period in the prior year, the company earned $1.13 EPS. The firm’s revenue was down 3.5% compared to the same quarter last year. As a group, research analysts forecast that Olin Co. will post 1.61 EPS for the current fiscal year.

Olin Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Thursday, August 8th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.67%. The ex-dividend date was Thursday, August 8th. Olin’s dividend payout ratio (DPR) is presently 28.78%.

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.