Gabelli Funds LLC Has $4.15 Million Holdings in Olin Corporation $OLN

Gabelli Funds LLC lifted its stake in shares of Olin Corporation (NYSE:OLN) by 104.5% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 206,552 shares of the specialty chemicals company’s stock after buying an additional 105,552 shares during the period. Gabelli Funds LLC’s holdings in Olin were worth $4,150,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of OLN. Evelyn Partners Investment Management LLP lifted its position in shares of Olin by 6,360.0% during the 2nd quarter. Evelyn Partners Investment Management LLP now owns 1,615 shares of the specialty chemicals company’s stock valued at $32,000 after acquiring an additional 1,590 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Olin in the first quarter worth $32,000. UMB Bank n.a. increased its stake in Olin by 134.9% in the second quarter. UMB Bank n.a. now owns 1,736 shares of the specialty chemicals company’s stock valued at $35,000 after purchasing an additional 997 shares in the last quarter. Quarry LP acquired a new position in shares of Olin during the first quarter valued at about $45,000. Finally, GAMMA Investing LLC raised its holdings in shares of Olin by 274.5% during the second quarter. GAMMA Investing LLC now owns 4,146 shares of the specialty chemicals company’s stock valued at $83,000 after purchasing an additional 3,039 shares during the period. Institutional investors own 88.67% of the company’s stock.

Insider Activity at Olin

In related news, VP Teresa M. Vermillion sold 4,500 shares of the firm’s stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $20.86, for a total transaction of $93,870.00. Following the transaction, the vice president directly owned 17,199 shares of the company’s stock, valued at $358,771.14. This trade represents a 20.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.60% of the stock is currently owned by corporate insiders.

Olin Stock Up 5.9%

OLN stock opened at $21.56 on Thursday. The firm has a market capitalization of $2.46 billion, a PE ratio of 46.86, a P/E/G ratio of 6.68 and a beta of 1.66. The company has a quick ratio of 0.89, a current ratio of 1.56 and a debt-to-equity ratio of 1.49. Olin Corporation has a twelve month low of $17.66 and a twelve month high of $39.44. The stock’s 50 day moving average is $21.66 and its 200-day moving average is $21.67.

Olin (NYSE:OLN) last announced its quarterly earnings results 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 the consensus estimate of $1.74 billion. Olin had a return on equity of 3.36% and a net margin of 0.79%.Olin’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.21) earnings per share. Sell-side analysts expect that Olin Corporation will post 1.38 EPS for the current fiscal year.

Olin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 28th will be paid a $0.20 dividend. The ex-dividend date is Friday, November 28th. This represents a $0.80 annualized dividend and a dividend yield of 3.7%. Olin’s dividend payout ratio is presently 173.91%.

Analysts Set New Price Targets

Several analysts have recently commented on OLN shares. UBS Group reduced their target price on Olin from $24.00 to $22.00 and set a “neutral” rating for the company in a research note on Wednesday, October 29th. Citigroup reiterated a “neutral” rating on shares of Olin in a report on Wednesday, October 29th. Wells Fargo & Company reduced their price objective on Olin from $25.00 to $22.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 29th. Truist Financial decreased their price objective on Olin from $22.00 to $21.00 and set a “hold” rating for the company in a report on Tuesday, October 28th. Finally, Royal Bank Of Canada set a $26.00 price target on shares of Olin and gave the company a “sector perform” rating in a research report on Tuesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Olin has an average rating of “Hold” and a consensus target price of $25.00.

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.