Algert Global LLC Grows Position in Olin Corporation $OLN

Algert Global LLC grew its holdings in Olin Corporation (NYSE:OLN) by 613.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 395,138 shares of the specialty chemicals company’s stock after buying an additional 339,788 shares during the period. Algert Global LLC owned 0.35% of Olin worth $9,874,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Creative Planning lifted its position in Olin by 20.9% during the third quarter. Creative Planning now owns 44,350 shares of the specialty chemicals company’s stock worth $1,108,000 after buying an additional 7,669 shares in the last quarter. AQR Capital Management LLC boosted its stake in Olin by 80.5% during the third quarter. AQR Capital Management LLC now owns 1,811,533 shares of the specialty chemicals company’s stock worth $44,564,000 after buying an additional 807,846 shares during the period. Raymond James Financial Inc. boosted its position in shares of Olin by 6.2% during the 3rd quarter. Raymond James Financial Inc. now owns 186,689 shares of the specialty chemicals company’s stock worth $4,665,000 after purchasing an additional 10,835 shares during the period. Amundi purchased a new position in shares of Olin during the 3rd quarter worth approximately $24,418,000. Finally, Appian Way Asset Management LP acquired a new stake in Olin in the 3rd quarter valued at approximately $4,290,000. 88.67% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Olin

In other news, CFO Todd A. Slater sold 92,250 shares of Olin stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $22.48, for a total value of $2,073,780.00. Following the completion of the transaction, the chief financial officer owned 44,291 shares in the company, valued at approximately $995,661.68. This trade represents a 67.56% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP R Nichole Sumner sold 4,750 shares of the business’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $22.49, for a total value of $106,827.50. Following the transaction, the vice president directly owned 24,771 shares of the company’s stock, valued at approximately $557,099.79. This represents a 16.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 99,379 shares of company stock valued at $2,238,298 in the last quarter. Corporate insiders own 1.70% of the company’s stock.

Olin Stock Performance

Shares of OLN stock opened at $24.73 on Monday. The firm has a 50 day moving average of $23.91 and a two-hundred day moving average of $22.86. The stock has a market capitalization of $2.81 billion, a PE ratio of -65.07 and a beta of 1.56. The company has a quick ratio of 0.73, a current ratio of 1.21 and a debt-to-equity ratio of 1.45. Olin Corporation has a 52 week low of $17.66 and a 52 week high of $27.35.

Olin (NYSE:OLN) last announced its quarterly earnings data on Thursday, January 29th. The specialty chemicals company reported ($0.58) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.58). The business had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.61 billion. Olin had a negative return on equity of 0.48% and a negative net margin of 0.63%.The company’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period last year, the firm earned $0.09 earnings per share. On average, research analysts predict that Olin Corporation will post 1.38 EPS for the current fiscal year.

Olin Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Tuesday, March 3rd were issued a dividend of $0.20 per share. The ex-dividend date was Tuesday, March 3rd. This represents a $0.80 annualized dividend and a yield of 3.2%. Olin’s dividend payout ratio is -210.53%.

Analysts Set New Price Targets

OLN has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $26.00 target price on shares of Olin in a research report on Tuesday, February 10th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Olin in a research note on Thursday, January 22nd. Citigroup boosted their price objective on Olin from $21.00 to $26.00 and gave the company a “neutral” rating in a report on Thursday. Zacks Research lowered Olin from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 29th. Finally, KeyCorp lowered their target price on Olin from $29.00 to $26.00 and set an “overweight” rating for the company in a report on Monday, February 2nd. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $23.73.

About Olin

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.