Merrion Investment Management Co LLC Invests $579,000 in Olin Co. (NYSE:OLN)

Merrion Investment Management Co LLC purchased a new position in Olin Co. (NYSE:OLN - Free Report) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 12,070 shares of the specialty chemicals company's stock, valued at approximately $579,000.

Several other hedge funds have also recently bought and sold shares of OLN. OLD National Bancorp IN lifted its holdings in shares of Olin by 4.2% in the second quarter. OLD National Bancorp IN now owns 6,343 shares of the specialty chemicals company's stock valued at $299,000 after purchasing an additional 253 shares in the last quarter. Scott & Selber Inc. raised its position in shares of Olin by 1.7% during the 2nd quarter. Scott & Selber Inc. now owns 19,206 shares of the specialty chemicals company's stock worth $906,000 after purchasing an additional 326 shares during the last quarter. LRI Investments LLC purchased a new stake in Olin in the 1st quarter valued at approximately $28,000. EverSource Wealth Advisors LLC grew its holdings in 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 buying an additional 525 shares during the last quarter. Finally, M3 Advisory Group LLC increased its position in Olin by 2.6% during the second quarter. M3 Advisory Group LLC now owns 21,477 shares of the specialty chemicals company's stock worth $1,013,000 after buying an additional 544 shares in the last quarter. 88.67% of the stock is owned by hedge funds and other institutional investors.

Olin Stock Up 0.6 %

Shares of NYSE:OLN traded up $0.29 during mid-day trading on Friday, hitting $47.41. 891,227 shares of the company traded hands, compared to its average volume of 1,142,566. The firm has a market cap of $5.57 billion, a P/E ratio of 20.89, a PEG ratio of 1.02 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 firm's 50 day simple moving average is $43.78 and its 200 day simple moving average is $49.17. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.82 and a current ratio of 1.43.

Olin (NYSE:OLN - Get Free Report) 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). The firm had revenue of $1.64 billion for the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.13 EPS. On average, equities analysts anticipate that Olin Co. will post 1.61 EPS for the current year.

Olin Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Thursday, August 8th were given a $0.20 dividend. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $0.80 dividend on an annualized basis and a yield of 1.69%. Olin's payout ratio is currently 35.24%.

Analyst Ratings Changes

Several brokerages recently weighed in on OLN. Wells Fargo & Company cut their target price on shares of Olin from $50.00 to $48.00 and set an "equal weight" rating for the company in a research note on Monday, July 29th. BMO Capital Markets initiated coverage on Olin in a research note on Tuesday, September 3rd. They issued a "market perform" rating and a $50.00 target price for the company. Deutsche Bank Aktiengesellschaft decreased their price target on Olin from $57.00 to $48.00 and set a "hold" rating on the stock in a research note on Monday, July 29th. The Goldman Sachs Group dropped 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. Finally, Barclays decreased their target price on shares of Olin from $59.00 to $49.00 and set an "equal weight" rating on the stock in a research report on Monday, July 29th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, Olin has an average rating of "Hold" and an average price target of $52.40.

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.