Rokos Capital Management LLP Purchases Shares of 229,817 Olin Corporation $OLN

Key Points

• Rokos Capital Management acquired 229,817 shares of Olin Corporation in the first quarter, valued at approximately $6.8 million and representing a 0.20% stake.
• Institutional ownership remains high at 88.67%, with several funds—including Orbis Allan Gray, Millennium Management and Dimensional Fund Advisors—significantly increasing their positions.
• Analyst sentiment is mixed but leans toward caution: Olin has a consensus “Hold” rating and an average price target of $26.46. The company also pays a quarterly dividend of $0.20 per share, yielding about 3.7%.

Rokos Capital Management LLP acquired a new position in shares of Olin Corporation (NYSE:OLN - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 229,817 shares of the specialty chemicals company's stock, valued at approximately $6,834,000. Rokos Capital Management LLP owned 0.20% of Olin as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Orbis Allan Gray Ltd increased its stake in shares of Olin by 448.9% during the fourth quarter. Orbis Allan Gray Ltd now owns 3,804,561 shares of the specialty chemicals company's stock worth $79,249,000 after purchasing an additional 3,111,393 shares during the period. Millennium Management LLC boosted its stake in Olin by 1,063.0% in the 3rd quarter. Millennium Management LLC now owns 2,486,702 shares of the specialty chemicals company's stock valued at $62,143,000 after purchasing an additional 2,272,877 shares during the period. Semper Augustus Investments Group LLC grew its holdings in Olin by 141.3% in the 3rd quarter. Semper Augustus Investments Group LLC now owns 1,924,245 shares of the specialty chemicals company's stock valued at $48,087,000 after buying an additional 1,126,809 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Olin by 22.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,627,997 shares of the specialty chemicals company's stock valued at $167,311,000 after buying an additional 1,031,498 shares in the last quarter. Finally, Amundi bought a new position in Olin during the 3rd quarter worth $24,418,000. Institutional investors and hedge funds own 88.67% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on OLN shares. Citigroup downgraded Olin from a "neutral" rating to an "underperform" rating in a report on Tuesday, June 30th. Wells Fargo & Company restated an "overweight" rating and issued a $37.00 price target on shares of Olin in a research note on Sunday, May 10th. Royal Bank Of Canada set a $30.00 price target on shares of Olin and gave the stock a "sector perform" rating in a research report on Friday, April 10th. Wall Street Zen cut shares of Olin from a "hold" rating to a "sell" rating in a research note on Saturday, June 27th. Finally, Morgan Stanley boosted their price objective on shares of Olin from $18.00 to $22.00 and gave the company an "underweight" rating in a report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $26.46.

Olin Stock Performance

NYSE:OLN opened at $21.82 on Tuesday. The stock has a fifty day moving average price of $23.12 and a 200-day moving average price of $24.81. The company has a market cap of $2.49 billion, a price-to-earnings ratio of -19.48 and a beta of 1.21. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.82 and a current ratio of 1.36. Olin Corporation has a fifty-two week low of $18.08 and a fifty-two week high of $30.46.

Olin Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Thursday, May 14th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $0.80 annualized dividend and a yield of 3.7%. Olin's dividend payout ratio is currently -71.43%.

Olin Profile

Olin Corporation is a diversified manufacturer specializing in chemical products and ammunition. The company's core business activities encompass the production and distribution of chlor-alkali products, epoxy resins and derivatives, and small-caliber ammunition under the Winchester brand. Olin's chemical operations supply chlorine, caustic soda and related co-products to a wide range of end markets, including water treatment, pulp and paper, pharmaceuticals and general industrial applications.

In its Chlor Alkali Products & Vinyls segment, Olin operates multiple manufacturing facilities that produce chlorine and sodium hydroxide, along with vinyl chloride monomer and polyvinyl chloride (PVC) compounds.

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