Edgestream Partners L.P. Acquires New Holdings in Olin Corporation $OLN

Key Points

• Edgestream Partners L.P. acquired 231,874 shares of Olin Corporation in the first quarter, worth approximately $6.9 million and representing about 0.20% of the company.
• Several major institutions increased their Olin positions, including Goldman Sachs, Royal Bank of Canada and UBS; institutional investors collectively own 88.67% of the stock.
• Analysts maintain a predominantly cautious view, with an overall “Hold” consensus and an average price target of $26.46. Olin shares opened at $22.11, down 0.4%, with a 52-week range of $18.08 to $30.46.

Edgestream Partners L.P. bought a new stake in Olin Corporation (NYSE:OLN - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 231,874 shares of the specialty chemicals company's stock, valued at approximately $6,894,000. Edgestream Partners L.P. owned about 0.20% of Olin at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Royal Bank of Canada boosted its holdings in shares of Olin by 20.2% in the 1st quarter. Royal Bank of Canada now owns 85,198 shares of the specialty chemicals company's stock valued at $2,066,000 after buying an additional 14,344 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Olin during the 1st quarter worth approximately $32,000. Jones Financial Companies Lllp lifted its position in Olin by 467.9% during the first quarter. Jones Financial Companies Lllp now owns 13,805 shares of the specialty chemicals company's stock valued at $335,000 after acquiring an additional 11,374 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Olin by 57.6% in the first quarter. Goldman Sachs Group Inc. now owns 588,602 shares of the specialty chemicals company's stock valued at $14,268,000 after acquiring an additional 215,235 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Olin by 6.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 317,472 shares of the specialty chemicals company's stock valued at $7,696,000 after acquiring an additional 20,047 shares in the last quarter. 88.67% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on OLN shares. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Olin in a research report on Friday, May 22nd. UBS Group raised their price objective on Olin from $29.00 to $31.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 13th. Mizuho dropped their target price on Olin from $26.00 to $23.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 1st. Morgan Stanley upped their target price on Olin from $18.00 to $22.00 and gave the company an "underweight" rating in a research report on Monday, May 11th. Finally, Royal Bank Of Canada set a $30.00 price target on Olin and gave the company a "sector perform" rating in a research note on Friday, April 10th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, nine have assigned a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $26.46.

Olin Trading Down 0.4%

Shares of NYSE:OLN opened at $22.11 on Friday. Olin Corporation has a 52-week low of $18.08 and a 52-week high of $30.46. The stock has a market cap of $2.52 billion, a price-to-earnings ratio of -19.74 and a beta of 1.21. The company has a quick ratio of 0.82, a current ratio of 1.36 and a debt-to-equity ratio of 1.73. The business has a 50-day moving average price of $22.87 and a 200-day moving average price of $24.79.

Olin Profile

Olin Corporation is a diversified manufacturer specializing in chemical products and ammunition. The company's core business activities encompass the production and distribution of chlor-alkali products, epoxy resins and derivatives, and small-caliber ammunition under the Winchester brand. Olin's chemical operations supply chlorine, caustic soda and related co-products to a wide range of end markets, including water treatment, pulp and paper, pharmaceuticals and general industrial applications.

In its Chlor Alkali Products & Vinyls segment, Olin operates multiple manufacturing facilities that produce chlorine and sodium hydroxide, along with vinyl chloride monomer and polyvinyl chloride (PVC) compounds.

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