Olin Corporation $OLN Shares Purchased by Inceptionr LLC

Inceptionr LLC raised its stake in Olin Corporation (NYSE:OLN) by 66.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,509 shares of the specialty chemicals company’s stock after buying an additional 10,978 shares during the quarter. Inceptionr LLC’s holdings in Olin were worth $553,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Vestcor Inc raised its stake in shares of Olin by 4.6% in the 1st quarter. Vestcor Inc now owns 12,630 shares of the specialty chemicals company’s stock valued at $306,000 after acquiring an additional 558 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in shares of Olin by 13.0% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 6,778 shares of the specialty chemicals company’s stock worth $164,000 after purchasing an additional 778 shares during the period. Blue Trust Inc. increased its holdings in Olin by 22.0% in the 2nd quarter. Blue Trust Inc. now owns 4,979 shares of the specialty chemicals company’s stock valued at $100,000 after purchasing an additional 899 shares during the last quarter. HHM Wealth Advisors LLC raised its position in Olin by 30.5% in the second quarter. HHM Wealth Advisors LLC now owns 4,126 shares of the specialty chemicals company’s stock valued at $83,000 after purchasing an additional 965 shares during the period. Finally, UMB Bank n.a. lifted its stake in Olin by 134.9% during the second quarter. UMB Bank n.a. now owns 1,736 shares of the specialty chemicals company’s stock worth $35,000 after purchasing an additional 997 shares in the last quarter. Hedge funds and other institutional investors own 88.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on OLN shares. Citigroup reaffirmed a “neutral” rating on shares of Olin in a research note on Wednesday, October 29th. UBS Group dropped their target price on Olin from $24.00 to $22.00 and set a “neutral” rating for the company in a research report on Wednesday, October 29th. Wells Fargo & Company reduced their price target on shares of Olin from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 29th. Bank of America raised their price objective on shares of Olin from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, October 14th. Finally, Truist Financial cut their target price on shares of Olin from $22.00 to $21.00 and set a “hold” rating on the stock in a research note on Tuesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Olin has a consensus rating of “Hold” and an average target price of $25.00.

Olin Trading Up 2.5%

Shares of NYSE:OLN opened at $20.81 on Friday. Olin Corporation has a 52 week low of $17.66 and a 52 week high of $43.76. The company’s 50 day moving average is $22.20 and its two-hundred day moving average is $21.67. The company has a market cap of $2.37 billion, a PE ratio of 45.23, a P/E/G ratio of 6.82 and a beta of 1.79. The company has a current ratio of 1.56, a quick ratio of 0.89 and a debt-to-equity ratio of 1.49.

Olin (NYSE:OLN) last released its quarterly earnings data on Monday, October 27th. The specialty chemicals company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.31. The business had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.74 billion. Olin had a net margin of 0.79% and a return on equity of 3.36%. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the previous year, the company earned ($0.21) EPS. Equities analysts predict that Olin Corporation will post 1.38 earnings per share for the current fiscal year.

Olin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 28th will be issued a $0.20 dividend. The ex-dividend date is Friday, November 28th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.8%. Olin’s dividend payout ratio is presently 173.91%.

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.