Olin Corporation (NYSE:OLN) Position Increased by GAMMA Investing LLC

GAMMA Investing LLC increased its position in shares of Olin Corporation (NYSE:OLN) by 2,268.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,834 shares of the specialty chemicals company’s stock after acquiring an additional 25,701 shares during the period. GAMMA Investing LLC’s holdings in Olin were worth $650,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of OLN. Covestor Ltd increased its position in Olin by 45.8% during the fourth quarter. Covestor Ltd now owns 1,334 shares of the specialty chemicals company’s stock worth $45,000 after buying an additional 419 shares during the last quarter. CoreFirst Bank & Trust acquired a new position in Olin during the fourth quarter worth $66,000. Jones Financial Companies Lllp increased its position in Olin by 59.9% during the fourth quarter. Jones Financial Companies Lllp now owns 2,431 shares of the specialty chemicals company’s stock worth $82,000 after buying an additional 911 shares during the last quarter. Headlands Technologies LLC acquired a new position in Olin during the fourth quarter worth $127,000. Finally, Connable Office Inc. increased its position in Olin by 9.3% during the fourth quarter. Connable Office Inc. now owns 6,207 shares of the specialty chemicals company’s stock worth $210,000 after buying an additional 527 shares during the last quarter. 88.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

OLN has been the topic of several analyst reports. UBS Group increased their target price on shares of Olin from $21.00 to $22.00 and gave the stock a “neutral” rating in a research report on Friday, May 2nd. Citigroup lowered their price target on Olin from $34.00 to $30.00 and set a “buy” rating on the stock in a research report on Thursday, March 27th. Piper Sandler lowered their price target on Olin from $33.00 to $26.00 and set a “neutral” rating on the stock in a research report on Monday, April 7th. Morgan Stanley lowered their price target on Olin from $28.00 to $20.00 and set an “underweight” rating on the stock in a research report on Monday, May 12th. Finally, Royal Bank Of Canada decreased their target price on Olin from $28.00 to $25.00 and set a “sector perform” rating on the stock in a research report on Monday, May 5th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $27.80.

Olin Stock Performance

OLN stock opened at $19.40 on Thursday. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.56 and a quick ratio of 0.96. 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 fifty-two week low of $17.66 and a fifty-two week high of $50.75. The stock has a market capitalization of $2.23 billion, a PE ratio of 38.04 and a beta of 1.53.

Olin (NYSE:OLN) last posted its quarterly earnings data on Thursday, May 1st. The specialty chemicals company reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.14. Olin had a net margin of 0.94% and a return on equity of 3.13%. The firm had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.58 billion. During the same quarter in the previous year, the company posted $0.40 EPS. Olin’s revenue was up 1.2% on a year-over-year basis. Analysts forecast that Olin Corporation will post 1.38 EPS for the current year.

Olin Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Thursday, May 15th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 4.12%. The ex-dividend date was 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.