Pzena Investment Management LLC raised its position in shares of Olin Corporation (NYSE:OLN – Free Report) by 17.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,507,913 shares of the specialty chemicals company’s stock after buying an additional 671,250 shares during the quarter. Pzena Investment Management LLC owned about 3.95% of Olin worth $93,900,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of OLN. Royal Bank of Canada boosted its holdings in shares of Olin by 20.2% in the 1st quarter. Royal Bank of Canada now owns 85,198 shares of the specialty chemicals company’s stock worth $2,066,000 after purchasing an additional 14,344 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Olin in the 1st quarter worth approximately $32,000. Jones Financial Companies Lllp boosted its holdings in shares of Olin by 467.9% in the 1st quarter. Jones Financial Companies Lllp now owns 13,805 shares of the specialty chemicals company’s stock worth $335,000 after purchasing an additional 11,374 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Olin by 57.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 588,602 shares of the specialty chemicals company’s stock worth $14,268,000 after purchasing an additional 215,235 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Olin by 6.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 317,472 shares of the specialty chemicals company’s stock worth $7,696,000 after purchasing an additional 20,047 shares during the period. Hedge funds and other institutional investors own 88.67% of the company’s stock.
Insider Buying and Selling at Olin
In other Olin news, VP Angela M. Castle sold 2,379 shares of the company’s stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $24.25, for a total value of $57,690.75. Following the completion of the sale, the vice president directly owned 1,528 shares in the company, valued at approximately $37,054. This represents a 60.89% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.60% of the company’s stock.
Analyst Ratings Changes
Olin Price Performance
Shares of OLN stock opened at $26.02 on Friday. Olin Corporation has a 52-week low of $18.08 and a 52-week high of $30.46. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.82 and a current ratio of 1.36. The firm has a market capitalization of $2.96 billion, a P/E ratio of -23.23 and a beta of 1.21. The stock has a 50 day moving average price of $27.36 and a 200 day moving average price of $24.00.
Olin Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Thursday, May 14th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Thursday, May 14th. Olin’s dividend payout ratio is currently -71.43%.
Olin Company Profile
Olin Corporation is a diversified manufacturer specializing in chemical products and ammunition. The company’s core business activities encompass the production and distribution of chlor-alkali products, epoxy resins and derivatives, and small-caliber ammunition under the Winchester brand. Olin’s chemical operations supply chlorine, caustic soda and related co-products to a wide range of end markets, including water treatment, pulp and paper, pharmaceuticals and general industrial applications.
In its Chlor Alkali Products & Vinyls segment, Olin operates multiple manufacturing facilities that produce chlorine and sodium hydroxide, along with vinyl chloride monomer and polyvinyl chloride (PVC) compounds.
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