With Shares Trading down at $29.48 (OLN) Olin Announces Second Quarter 2017…

Henrietta Strickland
August 3, 2017

Several other large investors have also added to or reduced their stakes in OLN. Citadel Advsr Limited Liability Co has invested 0.01% in Olin Corporation (NYSE:OLN). First Mercantile Trust Co. purchased a new stake in shares of Olin Corporation during the first quarter worth about $391,000. State Treasurer State of Michigan's holdings in Olin Corporation were worth $2,071,000 as of its most recent SEC filing. Columbus Circle Investors acquired a new stake in shares of Olin Corporation during the first quarter valued at $32,179,000.

Mastercard Incorporated (NYSE:MA) ended its day at $129.49 with the rising stream of 1.32% and its total traded volume was 3.99 million shares more than the average volume. BlackRock Inc. increased its position in Olin Corporation by 7,604.7% in the first quarter. Vanguard Group Inc. now owns 14,410,405 shares of the specialty chemicals company's stock worth $473,671,000 after buying an additional 878,440 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado boosted its position in Olin Corporation by 16.3% in the second quarter. Neuburgh Advisers LLC now owns 6,138 shares of the specialty chemicals company's stock worth $202,000 after buying an additional 396 shares during the period.

Shares of Olin Corporation (NYSE OLN) traded up 0.58% during midday trading on Tuesday, reaching $29.65. The stock is expected to report revenue as high as $1.77 Billion and as low as $1.53 Billion per share. The stock has a market cap of $4.89 billion, a PE ratio of 102.72 and a beta of 1.44. The stock's 50-day moving average is $30.18 and its 200-day moving average is $30.49. In last session stock price recorded a positive 65.52% lead over its 52-week low and showed declining move of -10.89% over its 52-week high. It seems that Olin Corporation (NYSE:OLN) might see muted action given an ABR of 2.6 or Hold rating. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.51 billion.

Among 9 analysts covering Olin Corporation (NYSE:OLN), 6 have Buy rating, 0 Sell and 3 Hold. The company's quarterly revenue was up 11.9% compared to the same quarter a year ago. Analysts expect next quarter's EPS to be $0.51 with next year's EPS anticipated to be $2.00.

The company also recently announced a quarterly dividend, which will be paid on Monday, September 11th.

Since February 6, 2017, it had 0 buys, and 7 sales for $2.78 million activity. The ex-dividend date is Tuesday, August 8th. Olin Corporation's dividend payout ratio (DPR) is 320.00%.

COPYRIGHT VIOLATION NOTICE: This article was reported by TheOlympiaReport and is owned by of TheOlympiaReport. If you are reading this news story on another domain, it was stolen and reposted in violation of U.S. & global trademark & copyright law. The original version of this piece of content can be viewed at https://www.thestockobserver.com/2017/07/31/olin-corporation-oln-stake-lowered-by-adams-asset-advisors-llc-updated-updated.html. RBC Capital Markets maintained the shares of OLN in report on Friday, July 22 with "Outperform" rating. UBS upgraded the shares of OLN in report on Wednesday, September 2 to "Neutral" rating. Cowen and Company set a $39.00 target price on shares of Olin Corporation and gave the company a "buy" rating in a research report on Friday, July 28th. Finally, Tudor Pickering started coverage on shares of Olin Corporation in a research report on Friday, May 12th. For now, OLN is the toast of Wall Street as its ABR stands at 2.20 with 3 out of 13 analysts rating the stock a buy. Currently, the stock has a 1 Year Price Target of $35.18.

Nomura Asset Ltd holds 0% of its portfolio in Olin Corporation (NYSE:OLN) for 1,400 shares. The Company operates through three segments: Chlor Alkali Products and Vinyls, Epoxy and Winchester. The Chlor Alkali Products and Vinyls segment manufactures and sells chlorine and caustic soda, ethylene dichloride and vinyl chloride monomer, methyl chloride, methylene chloride, chloroform, carbon tetrachloride, perchloroethylene, trichloroethylene and vinylidene chloride, hydrogen, bleach products and potassium hydroxide.

Hedge funds have recently bought and sold shares of the stock.

Other reports by Click Lancashire

Discuss This Article