Hudson Bay Capital Management LP Buys New Shares in Olin Corporation $OLN

Hudson Bay Capital Management LP purchased a new stake in Olin Corporation (NYSE:OLN) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 166,701 shares of the specialty chemicals company’s stock, valued at approximately $4,166,000. Hudson Bay Capital Management LP owned about 0.15% of Olin at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Strategic Advocates LLC bought a new position in shares of Olin in the 3rd quarter valued at about $25,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Olin during the first quarter worth about $32,000. Bessemer Group Inc. boosted its position in Olin by 712.7% during the third quarter. Bessemer Group Inc. now owns 1,341 shares of the specialty chemicals company’s stock valued at $34,000 after purchasing an additional 1,176 shares during the last quarter. Evelyn Partners Investment Management LLP boosted its position in Olin by 6,360.0% during the second quarter. Evelyn Partners Investment Management LLP now owns 1,615 shares of the specialty chemicals company’s stock valued at $32,000 after purchasing an additional 1,590 shares during the last quarter. Finally, Allworth Financial LP grew its stake in Olin by 114.0% in the third quarter. Allworth Financial LP now owns 1,740 shares of the specialty chemicals company’s stock valued at $43,000 after purchasing an additional 927 shares in the last quarter. 88.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Morgan Stanley lowered their price target on Olin from $20.00 to $18.00 and set an “underweight” rating on the stock in a research report on Monday, February 2nd. UBS Group set a $21.00 target price on shares of Olin in a research note on Monday, February 2nd. Weiss Ratings restated a “sell (d+)” rating on shares of Olin in a report on Thursday, January 22nd. Mizuho upped their price target on shares of Olin from $22.00 to $24.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 17th. Finally, KeyCorp cut their price target on shares of Olin from $29.00 to $26.00 and set an “overweight” rating for the company in a research note on Monday, February 2nd. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $23.73.

Olin Stock Performance

Shares of NYSE OLN opened at $23.71 on Friday. The company has a current ratio of 1.21, a quick ratio of 0.73 and a debt-to-equity ratio of 1.45. Olin Corporation has a 12 month low of $17.66 and a 12 month high of $27.35. The stock has a 50 day moving average of $24.19 and a 200-day moving average of $22.93. The company has a market capitalization of $2.69 billion, a P/E ratio of -62.40 and a beta of 1.56.

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

Olin Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Tuesday, March 3rd were given a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, March 3rd. This represents a $0.80 annualized dividend and a dividend yield of 3.4%. Olin’s dividend payout ratio is presently -210.53%.

Insider Transactions at Olin

In other news, VP R Nichole Sumner sold 4,750 shares of the firm’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $22.49, for a total transaction of $106,827.50. Following the completion of the sale, the vice president owned 24,771 shares in the company, valued at approximately $557,099.79. This trade represents a 16.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 transaction of $2,073,780.00. Following the sale, the chief financial officer directly owned 44,291 shares of the company’s stock, valued at $995,661.68. The trade was a 67.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 99,379 shares of company stock worth $2,238,298. 1.60% of the stock is owned by insiders.

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.