GAMMA Investing LLC lifted its holdings in Olin Corporation (NYSE:OLN - Free Report) by 2,268.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,834 shares of the specialty chemicals company's stock after purchasing an additional 25,701 shares during the quarter. GAMMA Investing LLC's holdings in Olin were worth $650,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also recently modified their holdings of OLN. Covestor Ltd raised 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 during the last quarter. CoreFirst Bank & Trust purchased a new position in shares of Olin in the fourth quarter worth $66,000. Jones Financial Companies Lllp raised its stake 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 worth $82,000 after purchasing an additional 911 shares during the last quarter. Headlands Technologies LLC purchased a new stake in Olin during the fourth quarter valued at $127,000. Finally, Connable Office Inc. increased its position in Olin by 9.3% during the fourth quarter. Connable Office Inc. now owns 6,207 shares of the specialty chemicals company's stock valued at $210,000 after acquiring an additional 527 shares during the last quarter. Hedge funds and other institutional investors own 88.67% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms recently commented on OLN. Wall Street Zen upgraded Olin from a "sell" rating to a "hold" rating in a research report on Saturday, June 14th. Royal Bank Of Canada reduced their price objective on Olin from $28.00 to $25.00 and set a "sector perform" rating for the company in a research report on Monday, May 5th. Citigroup reduced their price objective on Olin from $34.00 to $30.00 and set a "buy" rating for the company in a research report on Thursday, March 27th. Piper Sandler reduced their price objective on Olin from $33.00 to $26.00 and set a "neutral" rating for the company in a research report on Monday, April 7th. Finally, KeyCorp reduced their price objective on Olin from $40.00 to $34.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $27.80.
Read Our Latest Stock Analysis on Olin
Olin Stock Performance
NYSE:OLN traded down $0.12 during mid-day trading on Friday, hitting $19.31. 3,114,677 shares of the company traded hands, compared to its average volume of 1,685,862. The stock's fifty day moving average price is $20.74 and its 200-day moving average price is $26.04. Olin Corporation has a one year low of $17.66 and a one year high of $50.75. The company has a quick ratio of 0.96, a current ratio of 1.56 and a debt-to-equity ratio of 1.48. The firm has a market cap of $2.22 billion, a price-to-earnings ratio of 37.87 and a beta of 1.54.
Olin (NYSE:OLN - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The specialty chemicals company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.14. The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.58 billion. Olin had a return on equity of 3.13% and a net margin of 0.94%. Olin's revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.40 earnings per share. Research analysts anticipate that Olin Corporation will post 1.38 earnings per share for the current fiscal year.
Olin Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Thursday, May 15th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.14%. The ex-dividend date was Thursday, May 15th. Olin's dividend payout ratio (DPR) is 156.86%.
Olin Company Profile
(
Free Report)
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.
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