Graham Capital Management L.P. Acquires Shares of 15,126 Olin Co. (NYSE:OLN)

Graham Capital Management L.P. bought a new position in shares of Olin Co. (NYSE:OLN) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 15,126 shares of the specialty chemicals company’s stock, valued at approximately $511,000.

Other hedge funds have also modified their holdings of the company. Covestor Ltd grew its stake in shares of Olin by 45.8% in the 4th quarter. Covestor Ltd now owns 1,334 shares of the specialty chemicals company’s stock valued at $45,000 after purchasing an additional 419 shares during the last quarter. Spire Wealth Management lifted its holdings in shares of Olin by 246.8% during the fourth quarter. Spire Wealth Management now owns 1,616 shares of the specialty chemicals company’s stock worth $55,000 after purchasing an additional 1,150 shares during the period. CoreFirst Bank & Trust purchased a new position in Olin in the 4th quarter valued at $66,000. Jones Financial Companies Lllp increased its stake in Olin by 59.9% in the 4th quarter. Jones Financial Companies Lllp now owns 2,431 shares of the specialty chemicals company’s stock valued at $82,000 after buying an additional 911 shares during the period. Finally, Blue Trust Inc. raised its position in Olin by 34.3% during the 4th quarter. Blue Trust Inc. now owns 2,887 shares of the specialty chemicals company’s stock worth $98,000 after buying an additional 738 shares during the last quarter. 88.67% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on OLN. JPMorgan Chase & Co. lowered their target price on shares of Olin from $28.00 to $20.00 and set a “neutral” rating on the stock in a report on Tuesday, May 6th. Barclays lowered their price objective on Olin from $34.00 to $28.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 1st. Truist Financial cut their target price on Olin from $25.00 to $24.00 and set a “hold” rating for the company in a research note on Monday, May 5th. The Goldman Sachs Group decreased their price target on Olin from $33.00 to $25.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 6th. Finally, KeyCorp cut their price objective on Olin from $40.00 to $34.00 and set an “overweight” rating for the company in a research report on Monday, April 14th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Olin presently has an average rating of “Hold” and an average price target of $28.07.

Olin Price Performance

Olin stock opened at $21.08 on Friday. The firm has a market capitalization of $2.43 billion, a PE ratio of 23.42 and a beta of 1.56. Olin Co. has a 52 week low of $17.66 and a 52 week high of $56.98. The firm’s 50-day simple moving average is $22.27 and its 200 day simple moving average is $30.22. The company has a quick ratio of 0.77, a current ratio of 1.27 and a debt-to-equity ratio of 1.32.

Olin (NYSE:OLN) last announced its earnings results on Thursday, May 1st. The specialty chemicals company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.14. The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.58 billion. Olin had a net margin of 1.66% and a return on equity of 5.10%. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.40 earnings per share. On average, equities research analysts predict that Olin Co. will post 1.38 EPS for the current fiscal year.

Olin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Thursday, May 15th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date is Thursday, May 15th. Olin’s dividend payout ratio (DPR) is presently 156.86%.

About Olin

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.