SG Americas Securities LLC Grows Stake in Olin Corporation (NYSE:OLN)

SG Americas Securities LLC lifted its position in Olin Corporation (NYSE:OLN - Free Report) by 2,166.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 106,992 shares of the specialty chemicals company's stock after buying an additional 102,272 shares during the period. SG Americas Securities LLC owned approximately 0.09% of Olin worth $2,593,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. Harbor Capital Advisors Inc. grew its stake in shares of Olin by 73.7% during the 1st quarter. Harbor Capital Advisors Inc. now owns 248,466 shares of the specialty chemicals company's stock valued at $6,023,000 after purchasing an additional 105,404 shares during the period. Farther Finance Advisors LLC boosted its holdings in shares of Olin by 183.8% in the first quarter. Farther Finance Advisors LLC now owns 2,645 shares of the specialty chemicals company's stock worth $63,000 after buying an additional 1,713 shares during the last quarter. First Citizens Bank & Trust Co. boosted its holdings in shares of Olin by 48.3% in the first quarter. First Citizens Bank & Trust Co. now owns 10,278 shares of the specialty chemicals company's stock worth $249,000 after buying an additional 3,348 shares during the last quarter. Wedge Capital Management L L P NC grew its position in Olin by 36.8% during the first quarter. Wedge Capital Management L L P NC now owns 80,901 shares of the specialty chemicals company's stock valued at $1,961,000 after buying an additional 21,767 shares during the period. Finally, NBC Securities Inc. increased its holdings in Olin by 108,185.7% during the first quarter. NBC Securities Inc. now owns 7,580 shares of the specialty chemicals company's stock valued at $183,000 after buying an additional 7,573 shares during the last quarter. Institutional investors own 88.67% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. The Goldman Sachs Group dropped their price target on shares of Olin from $33.00 to $25.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 6th. KeyCorp decreased their target price on Olin from $40.00 to $34.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Wall Street Zen upgraded Olin from a "sell" rating to a "hold" rating in a research report on Saturday. Barclays reduced their price target on Olin from $28.00 to $24.00 and set an "equal weight" rating for the company in a research report on Wednesday, May 28th. Finally, Truist Financial decreased their price objective on Olin from $25.00 to $24.00 and set a "hold" rating on the stock in a research note on Monday, May 5th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Olin presently has an average rating of "Hold" and an average target price of $27.80.

Olin Price Performance

OLN stock traded down $0.19 during mid-day trading on Wednesday, hitting $19.55. The company had a trading volume of 716,669 shares, compared to its average volume of 1,678,806. The company has a 50-day moving average price of $20.82 and a 200 day moving average price of $26.63. Olin Corporation has a 12-month low of $17.66 and a 12-month high of $50.75. The company has a market capitalization of $2.25 billion, a price-to-earnings ratio of 38.29 and a beta of 1.53. The company has a quick ratio of 0.96, a current ratio of 1.56 and a debt-to-equity ratio of 1.48.

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

Olin Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Thursday, May 15th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date of this dividend was Thursday, May 15th. Olin's dividend payout ratio (DPR) is presently 156.86%.

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.