SG Americas Securities LLC Grows Stock Position in Olin Corporation $OLN

SG Americas Securities LLC raised its position in Olin Corporation (NYSE:OLN) by 142.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 455,757 shares of the specialty chemicals company’s stock after acquiring an additional 267,458 shares during the quarter. SG Americas Securities LLC owned 0.40% of Olin worth $9,493,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC lifted its position in shares of Olin by 86.6% during the fourth quarter. GAMMA Investing LLC now owns 5,886 shares of the specialty chemicals company’s stock worth $123,000 after purchasing an additional 2,731 shares in the last quarter. Hudson Bay Capital Management LP acquired a new stake in Olin during the 3rd quarter valued at $4,166,000. Allworth Financial LP increased its stake in Olin by 114.0% during the 3rd quarter. Allworth Financial LP now owns 1,740 shares of the specialty chemicals company’s stock worth $43,000 after buying an additional 927 shares during the period. Strategic Advocates LLC purchased a new stake in Olin during the 3rd quarter worth $25,000. Finally, CIBC Bancorp USA Inc. acquired a new position in Olin in the 3rd quarter worth $5,673,000. Hedge funds and other institutional investors own 88.67% of the company’s stock.

Analyst Upgrades and Downgrades

OLN has been the subject of a number of analyst reports. Wells Fargo & Company upped their price objective on shares of Olin from $21.00 to $25.00 and gave the company an “equal weight” rating in a research report on Friday, March 13th. BMO Capital Markets dropped their target price on Olin from $25.00 to $24.00 and set a “market perform” rating on the stock in a research report on Tuesday, February 3rd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $26.00 price target on shares of Olin in a research note on Tuesday, February 10th. Wall Street Zen downgraded Olin from a “hold” rating to a “sell” rating in a report on Saturday, January 10th. Finally, UBS Group set a $21.00 price objective on Olin in a research note on Monday, February 2nd. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $23.73.

Olin Trading Down 0.0%

NYSE OLN opened at $29.00 on Monday. The company has a market capitalization of $3.30 billion, a price-to-earnings ratio of -76.32 and a beta of 1.56. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.21 and a quick ratio of 0.73. Olin Corporation has a 12 month low of $17.66 and a 12 month high of $29.19. The company’s fifty day moving average price is $24.61 and its two-hundred day moving average price is $23.02.

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

Olin Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Tuesday, March 3rd were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Tuesday, March 3rd. Olin’s payout ratio is currently -210.53%.

Insider Buying and Selling at Olin

In other Olin news, VP R Nichole Sumner sold 4,750 shares of the company’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $22.49, for a total transaction of $106,827.50. Following the sale, the vice president owned 24,771 shares in the company, valued at $557,099.79. This represents a 16.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Angela M. Castle sold 2,379 shares of the stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $24.25, for a total value of $57,690.75. Following the transaction, the vice president directly owned 1,528 shares in the company, valued at approximately $37,054. This represents a 60.89% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 99,379 shares of company stock worth $2,238,298 over the last quarter. 1.60% of the stock is owned by corporate insiders.

Olin Company Profile

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.