Oarsman Capital Inc. Has $1.38 Million Stake in Olin Corporation $OLN

Key Points

• Oarsman Capital Inc. increased its stake in Olin Corporation by 53.4% during the 1st quarter, acquiring an additional 19,762 shares for a total ownership of 56,802 shares valued at approximately $1.38 million.
• Other institutional investors such as Fuller & Thaler Asset Management and Hotchkis & Wiley Capital Management have also significantly increased their holdings in Olin, reflecting strong interest from large investors.
• Olin Corporation reported a net loss of $0.04 per share for the last quarter, missing analysts' estimates, despite having a revenue of $1.76 billion which slightly exceeded expectations.

Oarsman Capital Inc. increased its stake in shares of Olin Corporation (NYSE:OLN - Free Report) by 53.4% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 56,802 shares of the specialty chemicals company's stock after acquiring an additional 19,762 shares during the period. Oarsman Capital Inc.'s holdings in Olin were worth $1,377,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in OLN. Fuller & Thaler Asset Management Inc. increased its holdings in shares of Olin by 40.5% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 6,384,744 shares of the specialty chemicals company's stock valued at $154,766,000 after acquiring an additional 1,840,900 shares during the last quarter. Hotchkis & Wiley Capital Management LLC increased its holdings in shares of Olin by 11.5% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 12,191,163 shares of the specialty chemicals company's stock valued at $295,514,000 after acquiring an additional 1,259,795 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Olin by 14.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,546,352 shares of the specialty chemicals company's stock valued at $110,204,000 after purchasing an additional 569,483 shares during the period. Two Sigma Investments LP boosted its stake in Olin by 890.4% during the 4th quarter. Two Sigma Investments LP now owns 451,020 shares of the specialty chemicals company's stock valued at $15,244,000 after purchasing an additional 405,480 shares during the period. Finally, Millennium Management LLC boosted its stake in Olin by 9.1% during the 4th quarter. Millennium Management LLC now owns 3,201,233 shares of the specialty chemicals company's stock valued at $108,202,000 after purchasing an additional 265,745 shares during the period. Institutional investors and hedge funds own 88.67% of the company's stock.

Olin Stock Performance

Shares of OLN stock traded up $0.81 during mid-day trading on Monday, reaching $23.67. The stock had a trading volume of 1,714,787 shares, compared to its average volume of 2,406,160. The firm's 50 day simple moving average is $20.96 and its 200 day simple moving average is $21.86. The company has a quick ratio of 0.88, a current ratio of 1.48 and a debt-to-equity ratio of 1.50. Olin Corporation has a one year low of $17.66 and a one year high of $49.60. The firm has a market cap of $2.71 billion, a PE ratio of -197.23 and a beta of 1.61.

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

Olin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Thursday, August 28th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Thursday, August 28th. Olin's dividend payout ratio (DPR) is -666.67%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on OLN shares. UBS Group decreased their target price on Olin from $23.00 to $22.00 and set a "neutral" rating for the company in a research note on Tuesday, July 29th. Barclays decreased their target price on Olin from $28.00 to $24.00 and set an "equal weight" rating for the company in a research note on Wednesday, May 28th. Truist Financial decreased their target price on Olin from $25.00 to $24.00 and set a "hold" rating for the company in a research note on Monday, May 5th. Citigroup decreased their target price on Olin from $26.00 to $25.00 and set a "buy" rating for the company in a research note on Tuesday, July 8th. Finally, Mizuho decreased their target price on Olin from $24.00 to $23.00 and set a "neutral" rating for the company in a research note on Tuesday, July 29th. Three analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Olin has an average rating of "Hold" and a consensus target price of $25.57.

Insider Activity at Olin

In related news, VP Teresa M. Vermillion sold 6,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $21.11, for a total transaction of $126,660.00. Following the completion of the transaction, the vice president owned 17,199 shares in the company, valued at $363,070.89. This trade represents a 25.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.60% of the stock is owned by company insiders.

Olin Company 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.