Metropolitan Life Insurance Co. NY Has $8.54 Million Stake in Olin Corporation (OLN)

Metropolitan Life Insurance Co. NY lowered its stake in Olin Corporation (NYSE:OLN) by 0.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 259,830 shares of the specialty chemicals company’s stock after selling 1,931 shares during the period. Metropolitan Life Insurance Co. NY owned approximately 0.16% of Olin Corporation worth $8,541,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of OLN. Bollard Group LLC boosted its position in Olin Corporation by 0.6% in the first quarter. Bollard Group LLC now owns 3,180 shares of the specialty chemicals company’s stock valued at $105,000 after buying an additional 19 shares in the last quarter. Meadow Creek Investment Management LLC boosted its position in Olin Corporation by 6.9% in the first quarter. Meadow Creek Investment Management LLC now owns 4,464 shares of the specialty chemicals company’s stock valued at $147,000 after buying an additional 288 shares in the last quarter. Tyers Asset Management LLC purchased a new position in Olin Corporation during the fourth quarter valued at about $187,000. Banced Corp purchased a new position in Olin Corporation during the first quarter valued at about $201,000. Finally, Neuburgh Advisers LLC boosted its position in Olin Corporation by 6.9% in the first quarter. Neuburgh Advisers LLC now owns 6,138 shares of the specialty chemicals company’s stock valued at $202,000 after buying an additional 396 shares in the last quarter. 94.17% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Olin Corporation (NYSE:OLN)

Shares of Olin Corporation (OLN) traded up 1.31% on Tuesday, reaching $30.16. 3,180,484 shares of the company’s stock were exchanged. The stock’s 50-day moving average price is $30.29 and its 200-day moving average price is $29.72. Olin Corporation has a 1-year low of $18.24 and a 1-year high of $33.88. The company has a market capitalization of $5.00 billion, a P/E ratio of 105.09 and a beta of 1.47.

Olin Corporation (NYSE:OLN) last posted its earnings results on Tuesday, May 2nd. The specialty chemicals company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by $0.10. The firm had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.44 billion. Olin Corporation had a net margin of 0.82% and a return on equity of 7.40%. Analysts anticipate that Olin Corporation will post $1.32 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, June 9th. Shareholders of record on Wednesday, May 10th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date was Monday, May 8th. Olin Corporation’s payout ratio is 285.71%.

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Several research analysts recently issued reports on the stock. Zacks Investment Research cut shares of Olin Corporation from a “buy” rating to a “sell” rating in a report on Tuesday, March 14th. Bank of America Corporation assumed coverage on shares of Olin Corporation in a report on Monday, May 8th. They set a “buy” rating and a $40.00 price target for the company. Royal Bank Of Canada reissued a “buy” rating and set a $35.00 price target on shares of Olin Corporation in a report on Tuesday. Tudor Pickering assumed coverage on shares of Olin Corporation in a report on Friday, May 12th. They set a “buy” rating and a $37.00 price target for the company. Finally, BidaskClub raised shares of Olin Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, June 14th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $32.86.

About Olin Corporation

Olin Corporation is a manufacturer and distributor of chemical products, and ammunition. The Company operates through three segments: Chlor Alkali Products and Vinyls, Epoxy and Winchester. The Chlor Alkali Products and Vinyls segment manufactures and sells chlorine and caustic soda, ethylene dichloride and vinyl chloride monomer, methyl chloride, methylene chloride, chloroform, carbon tetrachloride, perchloroethylene, trichloroethylene and vinylidene chloride, hydrochloric acid, hydrogen, bleach products and potassium hydroxide.

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