Centiva Capital LP Acquires New Holdings in Olin Co. (NYSE:OLN)

Centiva Capital LP purchased a new position in shares of Olin Co. (NYSE:OLN - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 15,763 shares of the specialty chemicals company's stock, valued at approximately $533,000.

Several other large investors also recently added to or reduced their stakes in OLN. Covestor Ltd increased its stake in shares of Olin by 45.8% in the fourth quarter. Covestor Ltd now owns 1,334 shares of the specialty chemicals company's stock worth $45,000 after purchasing an additional 419 shares in the last quarter. Spire Wealth Management lifted its position in shares of Olin by 246.8% during the fourth quarter. Spire Wealth Management now owns 1,616 shares of the specialty chemicals company's stock worth $55,000 after acquiring an additional 1,150 shares in the last quarter. CoreFirst Bank & Trust bought a new position in shares of Olin in the fourth quarter worth $66,000. Jones Financial Companies Lllp grew its position in shares of Olin by 59.9% in the fourth quarter. Jones Financial Companies Lllp now owns 2,431 shares of the specialty chemicals company's stock valued at $82,000 after purchasing an additional 911 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings in Olin by 34.3% during the 4th quarter. Blue Trust Inc. now owns 2,887 shares of the specialty chemicals company's stock worth $98,000 after purchasing an additional 738 shares in the last quarter. Hedge funds and other institutional investors own 88.67% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company increased their price target on shares of Olin from $19.00 to $22.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 6th. KeyCorp reduced their price target on shares of Olin from $40.00 to $34.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. JPMorgan Chase & Co. lowered their price objective on Olin from $28.00 to $20.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 6th. Morgan Stanley reduced their target price on Olin from $28.00 to $20.00 and set an "underweight" rating for the company in a research report on Monday. Finally, Piper Sandler lowered their price target on Olin from $33.00 to $26.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $28.07.

Olin Trading Up 7.2%

Shares of OLN stock traded up $1.54 during mid-day trading on Monday, reaching $22.87. The stock had a trading volume of 1,922,184 shares, compared to its average volume of 1,587,821. The firm has a market capitalization of $2.63 billion, a PE ratio of 25.41 and a beta of 1.56. The stock's 50-day moving average price is $22.42 and its two-hundred day moving average price is $30.48. The company has a current ratio of 1.27, a quick ratio of 0.77 and a debt-to-equity ratio of 1.32. Olin Co. has a 52-week low of $17.66 and a 52-week high of $57.10.

Olin (NYSE:OLN - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The specialty chemicals company reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.14. The business had revenue of $1.64 billion during the quarter, compared to analysts' expectations of $1.58 billion. Olin had a return on equity of 5.10% and a net margin of 1.66%. The business's revenue was up 1.2% on a year-over-year basis. During the same quarter last year, the business posted $0.40 EPS. Equities analysts expect that Olin Co. will post 1.38 earnings per share for the current fiscal year.

Olin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Thursday, May 15th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date of this dividend is Thursday, May 15th. Olin's payout ratio is currently 156.86%.

Olin 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.