GAMMA Investing LLC Boosts Stock Position in Olin Corporation (NYSE:OLN)

GAMMA Investing LLC grew its stake in shares of Olin Corporation (NYSE:OLN - Free Report) by 2,268.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,834 shares of the specialty chemicals company's stock after acquiring an additional 25,701 shares during the quarter. GAMMA Investing LLC's holdings in Olin were worth $650,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Vontobel Holding Ltd. bought a new position in Olin in the 4th quarter valued at approximately $328,000. Rhumbline Advisers raised its stake in shares of Olin by 1.6% in the fourth quarter. Rhumbline Advisers now owns 324,696 shares of the specialty chemicals company's stock worth $10,975,000 after purchasing an additional 5,093 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its holdings in shares of Olin by 14.8% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 51,312 shares of the specialty chemicals company's stock valued at $1,734,000 after purchasing an additional 6,617 shares in the last quarter. Alberta Investment Management Corp purchased a new stake in shares of Olin during the fourth quarter valued at $660,000. Finally, Ieq Capital LLC purchased a new stake in shares of Olin during the fourth quarter valued at $824,000. Hedge funds and other institutional investors own 88.67% of the company's stock.

Olin Stock Performance

NYSE OLN traded down $0.34 on Thursday, hitting $19.40. 1,626,532 shares of the company traded hands, compared to its average volume of 1,685,002. The business's 50 day moving average price is $20.77 and its 200-day moving average price is $26.58. Olin Corporation has a 52-week low of $17.66 and a 52-week high of $50.75. The company has a current ratio of 1.56, a quick ratio of 0.96 and a debt-to-equity ratio of 1.48. The company has a market capitalization of $2.23 billion, a price-to-earnings ratio of 38.04 and a beta of 1.53.

Olin (NYSE:OLN - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The specialty chemicals company reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.14. Olin had a net margin of 0.94% and a return on equity of 3.13%. The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter in the previous year, the firm earned $0.40 earnings per share. The company's revenue for the quarter was up 1.2% on a year-over-year basis. Equities analysts expect that Olin Corporation will post 1.38 earnings per share for the current year.

Olin Announces Dividend

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 4.12%. The ex-dividend date of this dividend was Thursday, May 15th. Olin's dividend payout ratio (DPR) is 156.86%.

Analyst Upgrades and Downgrades

OLN has been the subject of a number of recent analyst reports. Wall Street Zen raised Olin from a "sell" rating to a "hold" rating in a research report on Saturday, June 14th. Piper Sandler decreased their price objective on shares of Olin from $33.00 to $26.00 and set a "neutral" rating for the company in a report on Monday, April 7th. Citigroup dropped their target price on shares of Olin from $34.00 to $30.00 and set a "buy" rating on the stock in a report on Thursday, March 27th. KeyCorp decreased their target price on shares of Olin from $40.00 to $34.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Finally, Morgan Stanley lowered their price target on Olin from $28.00 to $20.00 and set an "underweight" rating on the stock in a report on Monday, May 12th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, Olin presently has a consensus rating of "Hold" and an average target price of $27.80.

Olin 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.