Wealth management firm 180 Wealth Advisors LLC has recently disclosed a reduction in its holdings of shares of Olin Co. The company reported a decrease of 12.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm now owns 15,441 shares of the specialty chemicals company’s stock, having sold 2,157 shares during the quarter. As of its most recent SEC filing, these holdings are valued at $809,000.
Olin Co., listed on the New York Stock Exchange under the ticker symbol OLN, is a prominent player in the specialty chemicals industry. The company produces various products including chlorine, caustic soda, epoxy resins, and industrial bleach. These products find applications across sectors such as pharmaceuticals, textiles, pulp and paper production, water treatment systems, and others.
In addition to this development on its stockholding reduction by 180 Wealth Advisors LLC, Olin Co. also recently made an announcement regarding its quarterly dividend payment. The dividend was paid on Friday, September 8th to shareholders as recorded on Thursday, August 10th. Shareholders received a dividend of $0.20 per share. Considering this payout rate on an annual basis establishes a dividend amounting to $0.80 per share and reflects a dividend yield of approximately 1.61%. It is noteworthy that Wednesday, August 9th marked the ex-dividend date for this payment.
As investors evaluate potential investment options within the chemicals sector or consider their existing portfolio allocation strategy in light of these developments surrounding Olin Co., it may be worth noting the current dividend payout ratio (DPR). At present, Olin Co.’s DPR stands at 13.56%. This ratio indicates how much money a company distributes to shareholders relative to its net income.
Although it is prudent to exercise caution and conduct thorough research before making any investment decisions or adjusting one’s portfolio, this disclosure by 180 Wealth Advisors LLC and the dividend announcement provide valuable insights into the current status of Olin Co. and its financial performance in recent times. Investors may choose to evaluate these developments alongside other fundamental and technical indicators to inform their investment strategies.
In conclusion, as of its most recent Form 13F filing with the SEC, 180 Wealth Advisors LLC has reduced its holdings in Olin Co. by 12.3%. Simultaneously, Olin Co. has paid out a quarterly dividend of $0.20 per share, resulting in an annualized dividend of $0.80 and a yield of approximately 1.61%. These updates shed light on the company’s financial health and may be of interest to investors seeking opportunities within the specialty chemicals sector.
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Analysis and Insights: Olin Corporation Attracting Attention from Hedge Funds and Institutional Investors
In recent times, Olin Corporation (NYSE:OLN) has garnered the attention of several hedge funds and institutional investors. Notable among them is Salem Investment Counselors Inc., which acquired a new stake in Olin during the first quarter with an investment worth $26,000. Additionally, Ten Capital Wealth Advisors LLC also took this opportunity to buy a stake in the company, investing around $28,000 during the same period. Furthermore, Industrial Alliance Investment Management Inc. made its own move by purchasing a new position in Olin valued at approximately $31,000.
Another significant player in this sector is Quarry LP. This hedge fund grew its position in shares of Olin by a staggering 508.6% during the first quarter alone. With an additional 590 shares under their belt, Quarry now owns a total of 706 shares of this specialty chemicals company’s stock valued at $39,000.
Money Concepts Capital Corp joined the fray as well, increasing its stake in Olin by 74.5% during the fourth quarter.The firm now holds 991 shares worth $52,000 after acquiring an additional 423 shares.
These recent investments indicate that hedge funds and other institutional investors currently own an impressive 85.69% of the company’s stock.
Although purchasing stakes in different companies can be seen as a strategic financial move, it is imperative to consider expert analysis before making any investment decision. Equities analysts have shared insights on OLN shares that shed light on potential prospects for investors.
For instance, Wells Fargo & Company adjusted their price target on Olin from $60.00 to $65.00 and gave the company an “overweight” rating in their report released on July 31st. Meanwhile, Bank of America reduced their target price from $78.00 to $69.00 on June 22nd.
On a positive note, Royal Bank of Canada raised its price objective on Olin, setting it at $67.00, up from $63.00 in their report published on July 31st.
However, Morgan Stanley maintained their “underweight” rating with a price objective of $50.00 on August 1st.
Additionally, Barclays lowered their target price to $60.00 from $64.00 while maintaining an “overweight” rating on September 5th.
Overall, analysts have provided diverse perspectives on the stock, with two rating it as sell, five stating hold, and six giving a buy recommendation. Bloomberg.com reports that the average rating for Olin is “Hold,” with an average target price of $62.38.
On September 19th, shares of NYSE OLN opened at $49.83. The stock currently boasts a market capitalization of $6.27 billion and carries a price-to-earnings ratio of 8.45, making it an intriguing option for investors.
Moreover, Olin has exhibited volatility in the past year with a one-year low of $41.33 and a one-year high of $64.70. Meanwhile, the company’s debt-to-equity ratio stands at 1.10.
When examining its financial health in more detail, this specialty chemicals company possesses a current ratio of 1.58 and a quick ratio of 0.80.The firm’s fifty-day simple moving average equates to $55.22 while its two-hundred-day simple moving average amounts to $53.93.
Olin last announced its earnings results on Friday, July 28th.Throughout this period,the specialty chemicals company reported earnings per share (EPS) amounting to $1.13 for the quarter—a significant achievement compared to the consensus estimate of $1 .04.Analysts had earlier estimated quarterly revenue reaching approximately$1 .86 billion; however,the actual revenue ended up being$1 .70 billion. Despite a dip in quarterly revenue by 34.9% compared to the same period last year,Olin achieved a net margin of 10.39% and a return on equity of 32.28%.Notably, during the corresponding quarter in the preceding fiscal year, the firm earned $2 .76 EPS.
With these financial indicators and expert predictions taken into account, analysts anticipate Olin Co. to achieve an EPS of4.16 for the current fiscal year.
Understanding the intricacies of investments can be perplexing, especially when faced with a vast array of information from hedge funds and institutional investors. Nevertheless,it is crucial for prospective investors to delve deep into reliable sources like analyst reports before making any decisions.
By staying informed, investors are better equipped to navigate through the bustling world of finances with confidence and clarity.
