Huber Capital Management LLC Cuts Stock Holdings in Olin Co. (NYSE:OLN)

Huber Capital Management LLC trimmed its position in shares of Olin Co. (NYSE:OLN) by 49.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 89,259 shares of the specialty chemicals company’s stock after selling 87,402 shares during the quarter. Huber Capital Management LLC’s holdings in Olin were worth $4,209,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Hotchkis & Wiley Capital Management LLC increased its holdings in shares of 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 in the last quarter. Boston Partners increased its holdings in shares of 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 in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Olin by 5.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,741,007 shares of the specialty chemicals company’s stock valued at $176,396,000 after purchasing an additional 194,755 shares in the last quarter. Balyasny Asset Management L.P. increased its holdings in shares of 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 in the last quarter. Finally, Norges Bank purchased a new stake in Olin in the 4th quarter worth $76,125,000. 88.67% of the stock is owned by hedge funds and other institutional investors.

Olin Trading Down 1.8 %

Shares of OLN stock opened at $44.10 on Friday. The company’s 50-day moving average price is $43.84 and its 200-day moving average price is $50.11. The company has a current ratio of 1.43, a quick ratio of 0.82 and a debt-to-equity ratio of 1.29. The stock has a market cap of $5.18 billion, a price-to-earnings ratio of 15.86, a PEG ratio of 0.94 and a beta of 1.41. Olin Co. has a twelve month low of $39.47 and a twelve month high of $60.60.

Olin (NYSE:OLN) last announced its quarterly earnings results 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 firm had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.71 billion. Olin had a net margin of 4.26% and a return on equity of 11.73%. The company’s revenue was down 3.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.13 EPS. As a group, equities analysts predict that Olin Co. will post 1.61 earnings per share for the current year.

Olin Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Thursday, August 8th were given a dividend of $0.20 per share. The ex-dividend date was Thursday, August 8th. This represents a $0.80 annualized dividend and a dividend yield of 1.81%. Olin’s payout ratio is 28.78%.

Analyst Ratings Changes

Several equities research analysts recently commented on OLN shares. JPMorgan Chase & Co. raised shares of Olin from a “neutral” rating to an “overweight” rating and set a $55.00 price target for the company in a report on Monday, July 29th. The Goldman Sachs Group cut their price target on shares of Olin from $55.00 to $49.00 and set a “neutral” rating for the company in a report on Monday, July 29th. BMO Capital Markets started coverage on shares of Olin in a report on Tuesday, September 3rd. They issued a “market perform” rating and a $50.00 price target for the company. Piper Sandler cut their price target on shares of Olin from $75.00 to $57.00 and set an “overweight” rating for the company in a report on Tuesday, July 30th. Finally, KeyCorp cut their price target on shares of Olin from $69.00 to $62.00 and set an “overweight” rating for the company in a report on Monday, July 29th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Olin currently has a consensus rating of “Hold” and an average price target of $52.73.

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.