UBS Group AG raised its stake in Olin Corporation (NYSE:OLN - Free Report) by 52.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,098,312 shares of the specialty chemicals company's stock after purchasing an additional 376,543 shares during the period. UBS Group AG owned approximately 0.96% of Olin worth $22,878,000 as of its most recent SEC filing.
A number of other hedge funds have also recently bought and sold shares of the stock. ARGA Investment Management LP boosted its holdings in Olin by 0.9% in the 3rd quarter. ARGA Investment Management LP now owns 60,359 shares of the specialty chemicals company's stock valued at $1,508,000 after purchasing an additional 546 shares during the period. Wilmington Savings Fund Society FSB boosted its holdings in Olin by 9.9% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 6,412 shares of the specialty chemicals company's stock valued at $160,000 after purchasing an additional 579 shares during the period. FORA Capital LLC boosted its holdings in Olin by 2.6% in the 2nd quarter. FORA Capital LLC now owns 24,453 shares of the specialty chemicals company's stock valued at $491,000 after purchasing an additional 625 shares during the period. NewEdge Advisors LLC boosted its holdings in Olin by 45.0% in the 3rd quarter. NewEdge Advisors LLC now owns 2,323 shares of the specialty chemicals company's stock valued at $58,000 after purchasing an additional 721 shares during the period. Finally, Treasurer of the State of North Carolina boosted its holdings in Olin by 1.5% in the 2nd quarter. Treasurer of the State of North Carolina now owns 53,636 shares of the specialty chemicals company's stock valued at $1,078,000 after purchasing an additional 793 shares during the period. 88.67% of the stock is owned by institutional investors.
Insiders Place Their Bets
In related news, VP Angela M. Castle sold 2,379 shares of the company's stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $24.25, for a total transaction of $57,690.75. Following the completion of the sale, the vice president owned 1,528 shares of the company's stock, valued at $37,054. This represents a 60.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.60% of the stock is owned by corporate insiders.
Olin News Summary
Here are the key news stories impacting Olin this week:
Olin Stock Performance
Shares of OLN opened at $26.84 on Monday. 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 twelve month low of $18.08 and a twelve month high of $30.46. The firm's 50 day moving average price is $26.79 and its two-hundred day moving average price is $23.68. The firm has a market cap of $3.06 billion, a P/E ratio of -23.96 and a beta of 1.21.
Olin Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Thursday, May 14th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, May 14th. This represents a $0.80 annualized dividend and a yield of 3.0%. Olin's dividend payout ratio is currently -71.43%.
Wall Street Analysts Forecast Growth
A number of brokerages have weighed in on OLN. Mizuho increased their price target on shares of Olin from $24.00 to $26.00 and gave the company a "neutral" rating in a report on Tuesday, March 31st. Citigroup raised their price objective on shares of Olin from $26.00 to $30.00 and gave the stock a "neutral" rating in a report on Thursday, April 16th. Wall Street Zen raised shares of Olin from a "sell" rating to a "hold" rating in a report on Saturday, April 11th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $26.00 price objective on shares of Olin in a report on Tuesday, February 10th. Finally, Royal Bank Of Canada set a $30.00 price objective on shares of Olin and gave the stock a "sector perform" rating in a report on Friday, April 10th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, Olin currently has a consensus rating of "Hold" and a consensus target price of $26.67.
Get Our Latest Stock Report on Olin
Olin Profile
(
Free Report)
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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