Shares last traded at $36.53 which is just a bit higher than the 50 day moving average which is $34.73 and which is significantly higher than the 200 day moving average of $31.62. The 50 day moving average went up $1.80 or +5.18% and the 200 day average went up $4.91 or +15.54%. Trading was heavy with 3,383K shares changing hands in the last trading session. Volume was up 105.93% over the stocks average daily volume.
Investors are a little more bullish on shares of Olin Corporation recently at least if you consider the decrease in short interest. The company realized a fall in short interest between September 29, 2017 and October 13, 2017 of -25.31%. Short shares fell from 6,130,506 to 4,578,602 over that timeframe. The days to cover decreased to 3.0 and the short interest percentage is 0.03% as of October 13.
A few notable investment firms have updated their holdings. As of quarter end Raymond James Financial Services Advisors, Inc. had disposed of a total of 2,748 shares trimming its holdings by 12.6%. The value of the investment in (OLN) decreased from $661,000 to $653,000 a change of 1.2% for the reporting period. Aperio Group, LLC downsized its position by selling 6,636 shares a decrease of 17.5%. Aperio Group, LLC controls 31,326 shares worth $1,073,000. The total value of its holdings decreased 6.6%.
As of the end of the quarter Bollard Group LLC had bought 21 shares growing its position 0.7%. The value of the total investment in Olin Corporation went from $97,000 to $110,000 increasing 13.4% since the last quarter. As of the end of the quarter Affinity Investment Advisors, LLC had sold a total of 1,550 shares trimming its stake by 15.7%. The value of the investment in OLN went from $299,000 to $286,000 a change of $13,000 quarter over quarter.
Citigroup began coverage of the stock with a rating of “Buy”.
The company is so far trading up from yesterday’s close of $36.53. Olin Corporation also announced a dividend for shareholders that will be paid on Mon Dec 11, 2017. The dividend payment will be $0.200 per share for the quarter which is $0.80 annualized. This dividend amount will represent a yield of $2.26. The ex-dividend date is Tuesday the 8th of August 2017.
The company currently has a P/E ratio of 142.14 and the market cap is 6.07B. As of the latest earnings report the EPS was $0.26 and is projected to be $1.00 for the current year with 166,258,000 shares now outstanding. Next quarter’s EPS is forecasted at $0.49 with next year’s EPS anticipated to be $2.21.
Olin Corporation, launched on August 13, 1892, 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. The Epoxy segment produces and sells a range of epoxy materials, including allyl chloride, epichlorohydrin, liquid epoxy resins and downstream products, such as converted epoxy resins and additives. The Winchester segment produces and sells sporting ammunition, reloading components, small caliber military ammunition and components, and industrial cartridges..