Stevens Capital Management LP increased its holdings in shares of Olin Co. (NYSE:OLN) by 78.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,905 shares of the specialty chemicals company’s stock after buying an additional 16,269 shares during the quarter. Stevens Capital Management LP’s holdings in Olin were worth $948,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also modified their holdings of OLN. Balter Liquid Alternatives LLC purchased a new position in shares of Olin during the second quarter valued at $154,000. Baird Financial Group Inc. purchased a new position in Olin in the second quarter valued at about $204,000. MML Investors Services LLC purchased a new position in Olin in the third quarter valued at about $210,000. Acadian Asset Management LLC purchased a new position in Olin in the third quarter valued at about $236,000. Finally, MAI Capital Management purchased a new position in Olin in the second quarter valued at about $240,000. Institutional investors and hedge funds own 86.95% of the company’s stock.
In related news, Director Scott Mcdougald Sutton purchased 15,000 shares of Olin stock in a transaction on Thursday, November 1st. The stock was bought at an average price of $21.62 per share, with a total value of $324,300.00. Following the completion of the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at $324,300. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP John Maurice Sampson purchased 5,000 shares of Olin stock in a transaction on Tuesday, November 20th. The stock was bought at an average cost of $19.84 per share, with a total value of $99,200.00. The disclosure for this purchase can be found here. Insiders acquired 21,800 shares of company stock valued at $460,844 in the last ninety days. Insiders own 1.70% of the company’s stock.
OLN has been the topic of a number of recent research reports. Morgan Stanley set a $38.00 target price on Olin and gave the company a “buy” rating in a research note on Wednesday, September 26th. Standpoint Research initiated coverage on Olin in a research note on Tuesday, August 28th. They issued a “buy” rating and a $20.00 target price on the stock. Citigroup lowered their target price on Olin from $33.00 to $26.00 and set a “buy” rating on the stock in a research note on Thursday, November 1st. TheStreet downgraded Olin from a “b-” rating to a “c+” rating in a research note on Monday, November 12th. Finally, Barclays initiated coverage on Olin in a research note on Monday, October 8th. They issued an “equal weight” rating and a $29.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $31.91.
Shares of NYSE:OLN opened at $20.18 on Friday. Olin Co. has a fifty-two week low of $18.49 and a fifty-two week high of $38.84. The stock has a market capitalization of $3.34 billion, a price-to-earnings ratio of 24.91, a P/E/G ratio of 0.31 and a beta of 1.73. The company has a quick ratio of 1.13, a current ratio of 1.81 and a debt-to-equity ratio of 1.14.
Olin (NYSE:OLN) last announced its quarterly earnings results on Monday, October 29th. The specialty chemicals company reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.09). Olin had a return on equity of 10.70% and a net margin of 11.02%. The company had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same period in the prior year, the firm earned $0.31 EPS. Olin’s quarterly revenue was up 20.4% on a year-over-year basis. As a group, analysts predict that Olin Co. will post 1.91 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Friday, November 9th will be given a $0.20 dividend. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.96%. Olin’s dividend payout ratio is currently 98.77%.
Olin Company Profile
Olin Corporation manufactures and distributes chemical products in the United States and internationally. 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, trichloroethylene and vinylidene chloride, hydrochloric acid, hydrogen, bleach products, and potassium hydroxide.
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