180 Wealth Advisors LLC Has $581,000 Stake in Olin Co. (NYSE:OLN)

180 Wealth Advisors LLC reduced its stake in shares of Olin Co. (NYSE:OLN) by 19.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,204 shares of the specialty chemicals company’s stock after selling 2,860 shares during the period. 180 Wealth Advisors LLC’s holdings in Olin were worth $581,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in OLN. Envestnet Portfolio Solutions Inc. acquired a new stake in Olin during the 2nd quarter valued at approximately $211,000. Wealth Enhancement Advisory Services LLC lifted its holdings in Olin by 20.5% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 8,466 shares of the specialty chemicals company’s stock valued at $399,000 after buying an additional 1,440 shares during the period. SG Americas Securities LLC boosted its position in Olin by 1,220.6% during the second quarter. SG Americas Securities LLC now owns 50,050 shares of the specialty chemicals company’s stock valued at $2,360,000 after acquiring an additional 46,260 shares during the last quarter. OLD National Bancorp IN grew its holdings in Olin by 4.2% during the 2nd quarter. OLD National Bancorp IN now owns 6,343 shares of the specialty chemicals company’s stock worth $299,000 after acquiring an additional 253 shares during the period. Finally, CWM LLC grew its holdings in Olin by 277.8% during the 2nd quarter. CWM LLC now owns 7,344 shares of the specialty chemicals company’s stock worth $346,000 after acquiring an additional 5,400 shares during the period. Institutional investors and hedge funds own 88.67% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. KeyCorp cut their target price on Olin from $69.00 to $62.00 and set an “overweight” rating on the stock in a research report on Monday, July 29th. Royal Bank of Canada cut their price target on Olin from $61.00 to $52.00 and set an “outperform” rating on the stock in a report on Monday, July 29th. The Goldman Sachs Group lowered their price objective on shares of Olin from $55.00 to $49.00 and set a “neutral” rating for the company in a research note on Monday, July 29th. Piper Sandler cut their target price on shares of Olin from $75.00 to $57.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 30th. Finally, Bank of America downgraded shares of Olin from a “buy” rating to a “neutral” rating and decreased their price target for the company from $62.00 to $51.00 in a research note on Monday, July 29th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Olin presently has a consensus rating of “Hold” and an average price target of $53.27.

Olin Stock Performance

Shares of Olin stock traded up $1.32 during trading hours on Thursday, reaching $42.04. The company had a trading volume of 943,326 shares, compared to its average volume of 1,122,888. 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 Co. has a one year low of $40.26 and a one year high of $60.60. The firm has a market cap of $5.02 billion, a PE ratio of 15.05, a price-to-earnings-growth ratio of 0.96 and a beta of 1.44. The business has a fifty day simple moving average of $46.77 and a 200 day simple moving average of $51.87.

Olin (NYSE:OLN) last issued its quarterly earnings data 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). Olin had a net margin of 4.26% and a return on equity of 11.73%. The firm had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same period in the prior year, the firm posted $1.13 EPS. Olin’s revenue was down 3.5% on a year-over-year basis. On average, analysts anticipate that Olin Co. will post 1.61 earnings per share for the current fiscal year.

Olin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Thursday, August 8th will be issued a $0.20 dividend. The ex-dividend date is Thursday, August 8th. This represents a $0.80 annualized dividend and a dividend yield of 1.90%. Olin’s payout ratio is currently 28.78%.

Olin Company 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.