GAMMA Investing LLC Acquires Shares of 1,853 Olin Co. (NYSE:OLN)

GAMMA Investing LLC bought a new position in shares of Olin Co. (NYSE:OLN) in the fourth quarter, Holdings Channel.com reports. The fund bought 1,853 shares of the specialty chemicals company’s stock, valued at approximately $96,000.

A number of other hedge funds have also modified their holdings of the business. Pzena Investment Management LLC boosted its position in Olin by 15.6% during the third quarter. Pzena Investment Management LLC now owns 2,940,658 shares of the specialty chemicals company’s stock worth $146,974,000 after acquiring an additional 397,050 shares during the last quarter. Luminus Management LLC grew its position in shares of Olin by 119.6% in the third quarter. Luminus Management LLC now owns 524,753 shares of the specialty chemicals company’s stock valued at $26,227,000 after purchasing an additional 285,789 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Olin by 21.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,179,543 shares of the specialty chemicals company’s stock valued at $58,954,000 after purchasing an additional 206,398 shares during the last quarter. Hsbc Holdings PLC lifted its position in Olin by 139.4% during the third quarter. Hsbc Holdings PLC now owns 259,923 shares of the specialty chemicals company’s stock worth $12,947,000 after buying an additional 151,342 shares in the last quarter. Finally, Rovida Advisors Inc. acquired a new position in Olin during the third quarter worth $4,998,000. 88.67% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, VP Brett A. Flaugher sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $52.46, for a total transaction of $786,900.00. Following the sale, the vice president now directly owns 8,782 shares in the company, valued at $460,703.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Olin news, VP Brett A. Flaugher sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $52.46, for a total transaction of $786,900.00. Following the completion of the transaction, the vice president now owns 8,782 shares in the company, valued at approximately $460,703.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Scott Mcdougald Sutton sold 539,328 shares of the firm’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $53.96, for a total transaction of $29,102,138.88. Following the completion of the sale, the chief executive officer now owns 47,620 shares in the company, valued at $2,569,575.20. The disclosure for this sale can be found here. Insiders have sold a total of 753,274 shares of company stock worth $40,434,124 in the last quarter. 1.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

OLN has been the subject of a number of recent research reports. Barclays raised their target price on Olin from $57.00 to $59.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 4th. Royal Bank of Canada lifted their target price on shares of Olin from $64.00 to $69.00 and gave the stock an “outperform” rating in a research note on Friday, April 19th. Citigroup boosted their target price on shares of Olin from $63.00 to $67.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. KeyCorp raised their price target on shares of Olin from $66.00 to $78.00 and gave the stock an “overweight” rating in a report on Tuesday, April 9th. Finally, UBS Group lifted their price target on shares of Olin from $56.00 to $58.00 and gave the company a “neutral” rating in a research report on Friday, January 26th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $59.33.

Olin Stock Performance

NYSE OLN opened at $53.48 on Monday. The company has a market cap of $6.40 billion, a P/E ratio of 19.24, a P/E/G ratio of 0.29 and a beta of 1.44. Olin Co. has a 1-year low of $41.71 and a 1-year high of $60.60. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.38 and a quick ratio of 0.80. The stock has a 50-day moving average of $55.63 and a two-hundred day moving average of $51.67.

Olin (NYSE:OLN) last announced its earnings results on Friday, April 26th. The specialty chemicals company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.04. The firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.65 billion. Olin had a net margin of 5.32% and a return on equity of 14.47%. The firm’s revenue for the quarter was down 11.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.16 EPS. As a group, analysts anticipate that Olin Co. will post 3.73 EPS for the current year.

Olin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Thursday, May 9th will be paid a dividend of $0.20 per share. The ex-dividend date is Wednesday, May 8th. This represents a $0.80 annualized dividend and a yield of 1.50%. Olin’s payout ratio is 28.78%.

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.