Raymond James & Associates Increases Holdings in Olin Co. (NYSE:OLN)

VaselineAugust 28, 2024

0 3 minutes read

Raymond James & Associates raised its stake in Olin Co. (NYSE:OLN – Free Report) by 11.4% during the 2nd quarter, HoldingsChannel reports. The firm owned 174,220 shares of the specialty chemicals company’s stock after acquiring an additional 17,801 shares during the quarter. Raymond James & Associates’ holdings in Olin were worth $8,214,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. LRI Investments LLC acquired a new stake in shares of Olin in the 1st quarter valued at approximately $28,000. EverSource Wealth Advisors LLC grew 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 valued at $32,000 after acquiring an additional 525 shares in the last quarter. Fifth Third Bancorp boosted its stake in Olin by 30.0% in the first quarter. Fifth Third Bancorp now owns 858 shares of the specialty chemicals company’s stock valued at $50,000 after buying an additional 198 shares during the period. Quarry LP acquired a new stake in shares of Olin during the fourth quarter valued at approximately $50,000. Finally, Headlands Technologies LLC purchased a new position in shares of Olin in the first quarter worth $69,000. Institutional investors and hedge funds own 88.67% of the company’s shares.

The Wall Street analyst weighs in

A number of research firms recently weighed in on OLN. Deutsche Bank Aktiengesellschaft cut their price target on shares of Olin from $57.00 to $48.00 and set a “hold” rating for the company in a report on Monday, July 29th. Goldman Sachs Group dropped their target price on Olin from $55.00 to $49.00 and set a “neutral” rating on the stock in a research report on Monday, July 29th. Wells Fargo & Company decreased their target price on Olin from $50.00 to $48.00 and set an “equal weight” rating for the company in a report on Monday, July 29th. JPMorgan Chase & Co. upgraded Olin from a “neutral” rating to an “overweight” rating and set a $55.00 price objective on the stock in a report on Monday, July 29th. Finally, KeyCorp cut their price target on Olin from $69.00 to $62.00 and set an “overweight” rating for the company in a research note on Monday, July 29th. One analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. Olin presently has an average rating of “Hold” and a consensus price target of $53.27, based on data from MarketBeat.

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Read the latest stock report on Olin

Olin stock fell 0.2%

Shares of OLN stock opened at $44.37 on Tuesday. Olin Co. has a 1 year low of $40.26 and a 1 year high of $60.60. The firm has a fifty day moving average price of $45.62 and a two hundred day moving average price of $51.38. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.43, and a quick ratio of 0.82. The firm has a market cap of $5.30 billion, a price-to-earnings ratio of 15.96, a PEG ratio of 0.92 and a beta of 1.44.

Olin (NYSE:OLN – Get Your Free Report ) last issued its earnings results on Thursday, July 25th. The specialty chemicals company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.08). The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.71 billion. Olin had a net margin of 4.26% and a return on equity of 11.73%. The company’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period last year, the company posted earnings of $1.13 per share. Research analysts predict that Olin Co. will post 1.61 EPS for the current year.

Olin announces dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Thursday, August 8th will be given a $0.20 dividend. This represents an annualized dividend of $0.80 and a yield of 1.80%. The ex-dividend date is Thursday, August 8. Olin’s dividend payout ratio is currently 28.78%.

About Olin

(Free Report)

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 Alkaline Products and Vinyls segment offers chlorine and caustic soda, ethylene dichloride and vinyl chloride monomers, methyl chloride, methylene chloride, chloroform, carbon tetrachloride, perchlorethylene, hydrochloric acid, hydrogen, bleaching products, hydroxide of potassium and organic intermediates and chlorinated solvents. .