Cwm LLC Acquires 1,324 Shares of Olin Co. (NYSE:OLN)

Cwm LLC grew its holdings in Olin Co. (NYSE:OLN) by 18.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,668 shares of the specialty chemicals company’s stock after acquiring an additional 1,324 shares during the quarter. Cwm LLC’s holdings in Olin were worth $416,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. LRI Investments LLC bought a new position in Olin in the first quarter worth $28,000. EverSource Wealth Advisors LLC lifted its position in Olin by 4,375.0% in the first quarter. EverSource Wealth Advisors LLC now owns 537 shares of the specialty chemicals company’s stock worth $32,000 after purchasing an additional 525 shares during the period. nVerses Capital LLC bought a new position in Olin in the second quarter worth $33,000. Denver PWM LLC bought a new position in Olin in the second quarter worth $59,000. Finally, Mather Group LLC. lifted its position in Olin by 1,364.4% in the second quarter. Mather Group LLC. now owns 1,274 shares of the specialty chemicals company’s stock worth $60,000 after purchasing an additional 1,187 shares during the period. 88.67% of the stock is owned by institutional investors.

Olin Price Performance

Shares of OLN stock opened at $47.00 on Monday. The stock has a 50-day moving average price of $44.46 and a 200 day moving average price of $48.55. 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 $5.52 billion, a price-to-earnings ratio of 20.70, a PEG ratio of 1.03 and a beta of 1.41. Olin Co. has a 12 month low of $39.47 and a 12 month high of $60.60.

Olin (NYSE:OLN) last announced 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). The firm 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%. Olin’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.13 earnings per share. Research analysts expect that Olin Co. will post 1.61 EPS for the current year.

Olin Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Thursday, August 8th were given a $0.20 dividend. The ex-dividend date was Thursday, August 8th. This represents a $0.80 dividend on an annualized basis and a yield of 1.70%. Olin’s payout ratio is 35.24%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on OLN. Bank of America cut Olin from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $62.00 to $51.00 in a research report on Monday, July 29th. The Goldman Sachs Group dropped their price objective on Olin from $55.00 to $49.00 and set a “neutral” rating for the company in a research note on Monday, July 29th. JPMorgan Chase & Co. upgraded Olin from a “neutral” rating to an “overweight” rating and set a $55.00 price objective 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 research note on Tuesday, July 9th. Finally, Piper Sandler dropped their price objective on Olin from $75.00 to $57.00 and set an “overweight” rating for the company in a research note on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $52.40.

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.