Empowered Funds LLC raised its holdings in shares of Olin Corporation (NYSE:OLN - Free Report) by 1,946.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 435,599 shares of the specialty chemicals company's stock after acquiring an additional 414,309 shares during the quarter. Empowered Funds LLC owned approximately 0.38% of Olin worth $12,950,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in the business. Values First Advisors Inc. raised its stake in Olin by 3.4% during the 1st quarter. Values First Advisors Inc. now owns 12,909 shares of the specialty chemicals company's stock valued at $384,000 after purchasing an additional 425 shares during the period. Covestor Ltd boosted its stake in Olin by 10.6% in the 4th quarter. Covestor Ltd now owns 5,189 shares of the specialty chemicals company's stock worth $108,000 after purchasing an additional 497 shares during the period. Oregon Public Employees Retirement Fund boosted its stake in Olin by 2.2% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 23,302 shares of the specialty chemicals company's stock worth $693,000 after purchasing an additional 500 shares during the period. Madison Asset Management LLC grew its holdings in Olin by 0.6% during the 4th quarter. Madison Asset Management LLC now owns 97,616 shares of the specialty chemicals company's stock valued at $2,033,000 after buying an additional 555 shares in the last quarter. Finally, First Citizens Bank & Trust Co. grew its holdings in Olin by 2.0% during the 1st quarter. First Citizens Bank & Trust Co. now owns 31,230 shares of the specialty chemicals company's stock valued at $928,000 after buying an additional 609 shares in the last quarter. 88.67% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several equities analysts have recently commented on OLN shares. Wall Street Zen downgraded shares of Olin from a "hold" rating to a "sell" rating in a report on Saturday, June 27th. JPMorgan Chase & Co. cut their target price on shares of Olin from $26.00 to $25.00 and set a "neutral" rating for the company in a research note on Thursday, June 18th. Weiss Ratings reiterated a "sell (d)" rating on shares of Olin in a report on Friday, May 22nd. Citigroup cut shares of Olin from a "neutral" rating to an "underperform" rating in a research note on Tuesday, June 30th. Finally, Royal Bank Of Canada set a $30.00 price objective on shares of Olin and gave the company a "sector perform" rating in a report on Friday, April 10th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, nine have given a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $26.46.
Get Our Latest Research Report on OLN
Olin Stock Up 3.9%
NYSE OLN opened at $22.19 on Thursday. The stock has a 50 day moving average price of $22.95 and a 200-day moving average price of $24.80. Olin Corporation has a one year low of $18.08 and a one year high of $30.46. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.82 and a current ratio of 1.36. The company has a market capitalization of $2.53 billion, a P/E ratio of -19.82 and a beta of 1.21.
Olin Profile
(
Free Report)
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.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Olin, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Olin wasn't on the list.
While Olin currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
