Huber Capital Management LLC Boosts Stock Position in Olin Corporation $OLN

Key Points

• Huber Capital Management LLC increased its position in Olin Corporation by 114.6%, acquiring 214,000 additional shares during the first quarter, making OLN 1.8% of its portfolio.
• Several institutional investors have adjusted their stakes in Olin, with 88.67% of the stock currently owned by such investors, indicating strong institutional interest in the company.
• Olin reported a loss in EPS for the last quarter, missing estimates and showing a negative return on equity, despite a 7% increase in revenue year-over-year.

Huber Capital Management LLC lifted its stake in shares of Olin Corporation (NYSE:OLN - Free Report) by 114.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 400,754 shares of the specialty chemicals company's stock after purchasing an additional 214,000 shares during the period. Olin accounts for 1.8% of Huber Capital Management LLC's investment portfolio, making the stock its 20th biggest holding. Huber Capital Management LLC owned approximately 0.35% of Olin worth $9,714,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Fuller & Thaler Asset Management Inc. raised its stake in shares of Olin by 40.5% in the first 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 buying an additional 1,840,900 shares during the period. Hotchkis & Wiley Capital Management LLC raised its stake in shares of Olin by 11.5% in the first 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 buying an additional 1,259,795 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Olin by 14.3% in the first quarter. Dimensional Fund Advisors LP now owns 4,546,352 shares of the specialty chemicals company's stock valued at $110,204,000 after buying an additional 569,483 shares during the period. Two Sigma Investments LP raised its stake in shares of Olin by 890.4% in the fourth quarter. Two Sigma Investments LP now owns 451,020 shares of the specialty chemicals company's stock valued at $15,244,000 after buying an additional 405,480 shares during the period. Finally, Millennium Management LLC raised its stake in shares of Olin by 9.1% in the fourth quarter. Millennium Management LLC now owns 3,201,233 shares of the specialty chemicals company's stock valued at $108,202,000 after buying an additional 265,745 shares during the period. Hedge funds and other institutional investors own 88.67% of the company's stock.

Insider Activity

In other news, VP Teresa M. Vermillion sold 6,000 shares of the company's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $21.11, for a total value of $126,660.00. Following the completion of the transaction, the vice president directly owned 17,199 shares in the company, valued at approximately $363,070.89. This represents a 25.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.60% of the company's stock.

Olin Price Performance

Olin stock traded up $0.81 during midday trading on Friday, hitting $23.67. 1,714,787 shares of the company's stock were exchanged, compared to its average volume of 2,504,984. Olin Corporation has a 52-week low of $17.66 and a 52-week high of $49.60. The stock has a 50-day moving average price of $20.96 and a two-hundred day moving average price of $21.90. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.88 and a current ratio of 1.48. The company has a market cap of $2.71 billion, a P/E ratio of -197.23 and a beta of 1.55.

Olin (NYSE:OLN - Get Free Report) last posted its 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 business 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 earned $0.62 earnings per share. Olin's quarterly revenue was up 7.0% compared to the same quarter last year. On average, equities research analysts forecast that Olin Corporation will post 1.38 earnings per share for the current year.

Olin Announces Dividend

The firm 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 yield of 3.4%. The ex-dividend date is Thursday, August 28th. Olin's payout ratio is presently -666.67%.

Analysts Set New Price Targets

OLN has been the topic of several research reports. Mizuho lowered their target price on Olin from $24.00 to $23.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 29th. Truist Financial lowered their target price on Olin from $25.00 to $24.00 and set a "hold" rating on the stock in a research note on Monday, May 5th. Royal Bank Of Canada reduced their price target on Olin from $25.00 to $23.00 and set a "sector perform" rating for the company in a research report on Thursday, July 3rd. Citigroup reduced their price target on Olin from $26.00 to $25.00 and set a "buy" rating for the company in a research report on Tuesday, July 8th. Finally, KeyCorp reduced their price target on Olin from $32.00 to $31.00 and set an "overweight" rating for the company in a research report on Wednesday, July 30th. Three equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $25.57.

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.