Jump Financial LLC Raises Stake in Olin Corporation $OLN

Key Points

• Jump Financial LLC significantly increased its ownership in Olin Corporation by 300.3%, acquiring an additional 254,601 shares, bringing its total holdings to 339,392 shares worth approximately $8.23 million.
• Olin Corporation reported earnings per share (EPS) of $0.05 for the last quarter, falling short of analysts' expectations of $0.09, despite a revenue increase of 7% year-over-year.
• The company announced a quarterly dividend of $0.20, translating to an annualized dividend of 3.5% yield, with the next payment scheduled for September 12th.

Jump Financial LLC increased its holdings in shares of Olin Corporation (NYSE:OLN - Free Report) by 300.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 339,392 shares of the specialty chemicals company's stock after buying an additional 254,601 shares during the quarter. Jump Financial LLC owned 0.29% of Olin worth $8,227,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in OLN. MetLife Investment Management LLC grew its stake in shares of Olin by 8.3% during the fourth quarter. MetLife Investment Management LLC now owns 65,737 shares of the specialty chemicals company's stock worth $2,222,000 after acquiring an additional 5,012 shares during the last quarter. Pinebridge Investments L.P. boosted its stake in Olin by 16.6% in the 4th quarter. Pinebridge Investments L.P. now owns 72,236 shares of the specialty chemicals company's stock worth $2,442,000 after purchasing an additional 10,276 shares in the last quarter. Oxford Asset Management LLP acquired a new stake in Olin in the 4th quarter worth approximately $411,000. Aquatic Capital Management LLC grew its position in Olin by 70,769.5% during the 4th quarter. Aquatic Capital Management LLC now owns 141,739 shares of the specialty chemicals company's stock worth $4,791,000 after purchasing an additional 141,539 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of Olin by 16.5% in the 4th quarter. Northern Trust Corp now owns 1,126,237 shares of the specialty chemicals company's stock valued at $38,067,000 after acquiring an additional 159,667 shares during the period. 88.67% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently weighed in on OLN. KeyCorp cut their price target on shares of Olin from $32.00 to $31.00 and set an "overweight" rating on the stock in a report on Wednesday, July 30th. Barclays dropped their target price on Olin from $28.00 to $24.00 and set an "equal weight" rating on the stock in a report on Wednesday, May 28th. Citigroup decreased their price target on Olin from $26.00 to $25.00 and set a "buy" rating for the company in a report on Tuesday, July 8th. Royal Bank Of Canada lowered their price objective on Olin from $25.00 to $23.00 and set a "sector perform" rating on the stock in a research report on Thursday, July 3rd. Finally, UBS Group cut their target price on shares of Olin from $23.00 to $22.00 and set a "neutral" rating for the company in a report on Tuesday, July 29th. Three equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Olin presently has a consensus rating of "Hold" and a consensus target price of $25.57.

Insider Buying and Selling at Olin

In related news, VP Teresa M. Vermillion sold 6,000 shares of the business's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $21.11, for a total transaction of $126,660.00. Following the transaction, the vice president directly owned 17,199 shares in the company, valued at approximately $363,070.89. The trade was a 25.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.60% of the company's stock.

Olin Price Performance

Shares of Olin stock traded down $0.46 during mid-day trading on Thursday, reaching $22.84. 1,719,943 shares of the stock traded hands, compared to its average volume of 2,089,157. The company has a quick ratio of 0.88, a current ratio of 1.48 and a debt-to-equity ratio of 1.50. The business has a 50-day moving average of $20.80 and a 200 day moving average of $22.02. The stock has a market capitalization of $2.62 billion, a PE ratio of -190.29 and a beta of 1.55. Olin Corporation has a fifty-two week low of $17.66 and a fifty-two week high of $49.60.

Olin (NYSE:OLN - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The specialty chemicals company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.04). Olin had a negative return on equity of 0.13% and a negative net margin of 0.21%.The firm had revenue of $1.76 billion for the quarter, compared to analysts' expectations of $1.68 billion. During the same quarter in the previous year, the firm posted $0.62 earnings per share. The firm's revenue for the quarter was up 7.0% compared to the same quarter last year. On average, analysts predict that Olin Corporation will post 1.38 EPS for the current year.

Olin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Thursday, August 28th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Thursday, August 28th. Olin's dividend payout ratio (DPR) is currently -666.67%.

About Olin

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.