Graham Capital Management L.P. Makes New $511,000 Investment in Olin Co. (NYSE:OLN)

Graham Capital Management L.P. purchased a new position in shares of Olin Co. (NYSE:OLN) in the fourth quarter, HoldingsChannel reports. The fund purchased 15,126 shares of the specialty chemicals company’s stock, valued at approximately $511,000.

A number of other institutional investors have also modified their holdings of OLN. Covestor Ltd boosted 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 acquiring an additional 419 shares during the last quarter. Spire Wealth Management raised its holdings in Olin by 246.8% in the 4th quarter. Spire Wealth Management now owns 1,616 shares of the specialty chemicals company’s stock valued at $55,000 after acquiring an additional 1,150 shares during the last quarter. CoreFirst Bank & Trust purchased a new position in shares of Olin during the 4th quarter worth $66,000. Jones Financial Companies Lllp boosted its holdings in shares of 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 purchasing an additional 911 shares during the last quarter. Finally, Blue Trust Inc. boosted its holdings in shares of Olin by 34.3% during the fourth quarter. Blue Trust Inc. now owns 2,887 shares of the specialty chemicals company’s stock worth $98,000 after purchasing an additional 738 shares during the last quarter. Institutional investors and hedge funds own 88.67% of the company’s stock.

Analyst Upgrades and Downgrades

OLN has been the topic of several recent analyst reports. Citigroup reduced their target price on Olin from $34.00 to $30.00 and set a “buy” rating on the stock in a research report on Thursday, March 27th. Barclays cut their price objective on shares of Olin from $34.00 to $28.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 1st. BMO Capital Markets lowered their target price on shares of Olin from $44.00 to $34.00 and set a “market perform” rating for the company in a report on Wednesday, February 5th. JPMorgan Chase & Co. cut their price target on shares of Olin from $28.00 to $20.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 6th. Finally, UBS Group lifted their price target on shares of Olin from $21.00 to $22.00 and gave the company a “neutral” rating in a report on Friday, May 2nd. One analyst has rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $28.07.

Olin Trading Down 4.4%

NYSE:OLN opened at $21.08 on Friday. The business’s 50-day moving average is $22.27 and its two-hundred day moving average is $30.22. The firm has a market capitalization of $2.43 billion, a PE ratio of 23.42 and a beta of 1.56. Olin Co. has a 12 month low of $17.66 and a 12 month high of $56.98. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.27 and a quick ratio of 0.77.

Olin (NYSE:OLN) last announced its earnings results on Thursday, May 1st. The specialty chemicals company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.10) by $0.14. The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.58 billion. Olin had a return on equity of 5.10% and a net margin of 1.66%. The company’s revenue was up 1.2% on a year-over-year basis. During the same period last year, the business posted $0.40 EPS. Research analysts predict that Olin Co. will post 1.38 earnings per share for the current fiscal year.

Olin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Thursday, May 15th will be paid a $0.20 dividend. The ex-dividend date is Thursday, May 15th. This represents a $0.80 annualized dividend and a dividend yield of 3.80%. Olin’s dividend payout ratio (DPR) is presently 156.86%.

Olin Profile

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.