Edgestream Partners L.P. Takes $732,000 Position in Olin Co. (NYSE:OLN)

Edgestream Partners L.P. acquired a new stake in shares of Olin Co. (NYSE:OLN) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 15,521 shares of the specialty chemicals company’s stock, valued at approximately $732,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC purchased a new position in shares of Olin in the 4th quarter worth $1,204,000. Norges Bank bought a new stake in shares of Olin during the 4th quarter valued at about $76,125,000. Assetmark Inc. increased its position in shares of Olin by 20.6% during the 4th quarter. Assetmark Inc. now owns 66,490 shares of the specialty chemicals company’s stock valued at $3,587,000 after purchasing an additional 11,363 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of Olin by 67.6% in the 4th quarter. Franklin Resources Inc. now owns 663,202 shares of the specialty chemicals company’s stock worth $35,780,000 after purchasing an additional 267,460 shares during the period. Finally, US Bancorp DE boosted its holdings in shares of Olin by 4.5% in the fourth quarter. US Bancorp DE now owns 11,703 shares of the specialty chemicals company’s stock worth $631,000 after buying an additional 507 shares during the last quarter. Institutional investors own 88.67% of the company’s stock.

Olin Stock Performance

Shares of NYSE OLN opened at $44.10 on Friday. The company has a market cap of $5.18 billion, a P/E ratio of 15.86, a P/E/G ratio of 0.94 and a beta of 1.41. Olin Co. has a 52-week low of $39.47 and a 52-week high of $60.60. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.82 and a current ratio of 1.43. The firm’s fifty day moving average is $43.84 and its two-hundred day moving average is $50.08.

Olin (NYSE:OLN) last posted its earnings results 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 firm had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the prior year, the firm posted $1.13 earnings per share. Olin’s quarterly revenue was down 3.5% on a year-over-year basis. As a group, analysts anticipate 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. Investors of record on Thursday, August 8th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date was Thursday, August 8th. Olin’s dividend payout ratio (DPR) is presently 28.78%.

Analysts Set New Price Targets

Several research analysts have weighed in on OLN shares. Royal Bank of Canada decreased their price target on shares of Olin from $61.00 to $52.00 and set an “outperform” rating on the stock in a research report on Monday, July 29th. Barclays lowered their target price on Olin from $59.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Monday, July 29th. Mizuho assumed coverage on Olin in a research report on Thursday, August 8th. They issued a “neutral” rating and a $45.00 price target for the company. KeyCorp lowered their price objective on Olin from $69.00 to $62.00 and set an “overweight” rating on the stock in a research report on Monday, July 29th. Finally, The Goldman Sachs Group reduced their target price 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. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $52.73.

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.