Kraematon Investment Advisors Inc. Sells 666 Shares of Olin Co. (NYSE:OLN)

Kraematon Investment Advisors Inc. lessened its holdings in Olin Co. (NYSE:OLN) by 2.1% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 30,977 shares of the specialty chemicals company’s stock after selling 666 shares during the period. Olin comprises approximately 1.5% of Kraematon Investment Advisors Inc.’s holdings, making the stock its 23rd biggest position. Kraematon Investment Advisors Inc.’s holdings in Olin were worth $1,461,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. LRI Investments LLC purchased a new position in Olin during the first quarter valued at $28,000. EverSource Wealth Advisors LLC grew its stake in shares of Olin by 4,375.0% during the 1st 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 during the period. Sandy Spring Bank increased its holdings in Olin by 145.6% in the 4th quarter. Sandy Spring Bank now owns 614 shares of the specialty chemicals company’s stock worth $33,000 after acquiring an additional 364 shares in the last quarter. Fifth Third Bancorp raised its stake in Olin by 30.0% during the 1st quarter. Fifth Third Bancorp now owns 858 shares of the specialty chemicals company’s stock worth $50,000 after acquiring an additional 198 shares during the period. Finally, Quarry LP purchased a new position in Olin during the fourth quarter valued at approximately $50,000. Hedge funds and other institutional investors own 88.67% of the company’s stock.

Olin Trading Down 0.9 %

Shares of NYSE:OLN traded down $0.38 during trading hours on Friday, hitting $40.65. 917,307 shares of the company’s stock traded hands, compared to its average volume of 1,121,260. The firm has a market capitalization of $4.85 billion, a P/E ratio of 14.62, a price-to-earnings-growth ratio of 0.96 and a beta of 1.44. The business has a fifty day moving average price of $47.39 and a 200-day moving average price of $52.12. Olin Co. has a 1 year low of $40.37 and a 1 year high of $60.60. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.43 and a quick ratio of 0.82.

Olin (NYSE:OLN) last posted its quarterly earnings data on Thursday, July 25th. The specialty chemicals company reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.08). Olin had a net margin of 4.26% and a return on equity of 11.73%. The business had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the previous year, the firm earned $1.13 EPS. Olin’s revenue was down 3.5% compared to the same quarter last year. Equities analysts expect that Olin Co. will post 1.61 earnings per share for the current year.

Olin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Thursday, August 8th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, August 8th. This represents a $0.80 dividend on an annualized basis and a yield of 1.97%. Olin’s payout ratio is 28.78%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Bank of America downgraded shares of Olin from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $62.00 to $51.00 in a research report on Monday, July 29th. KeyCorp dropped their price objective on Olin from $69.00 to $62.00 and set an “overweight” rating for the company in a research note on Monday, July 29th. Stifel Nicolaus lifted their target price on Olin from $68.00 to $69.00 and gave the company a “buy” rating in a research note on Monday, April 29th. The Goldman Sachs Group dropped their price target on Olin from $55.00 to $49.00 and set a “neutral” rating for the company in a research note on Monday, July 29th. Finally, Piper Sandler reduced their price objective on shares of Olin from $75.00 to $57.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 30th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $53.27.

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.