Marnell Management LLC Invests $952,000 in Olin Corporation $OLN

Marnell Management LLC acquired a new position in shares of Olin Corporation (NYSE:OLN) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 45,700 shares of the specialty chemicals company’s stock, valued at approximately $952,000.

A number of other large investors also recently modified their holdings of OLN. Royal Bank of Canada boosted its stake in shares of Olin by 20.2% during the 1st quarter. Royal Bank of Canada now owns 85,198 shares of the specialty chemicals company’s stock worth $2,066,000 after buying an additional 14,344 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Olin in the 1st quarter valued at about $32,000. Jones Financial Companies Lllp raised its holdings in shares of Olin by 467.9% in the 1st quarter. Jones Financial Companies Lllp now owns 13,805 shares of the specialty chemicals company’s stock valued at $335,000 after purchasing an additional 11,374 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Olin by 57.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 588,602 shares of the specialty chemicals company’s stock valued at $14,268,000 after purchasing an additional 215,235 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Olin by 6.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 317,472 shares of the specialty chemicals company’s stock valued at $7,696,000 after purchasing an additional 20,047 shares during the period. 88.67% of the stock is currently owned by institutional investors and hedge funds.

Olin Stock Down 0.1%

Shares of OLN opened at $25.10 on Monday. The company has a current ratio of 1.36, a quick ratio of 0.82 and a debt-to-equity ratio of 1.73. Olin Corporation has a 12 month low of $18.08 and a 12 month high of $30.46. The firm’s 50 day moving average is $26.93 and its 200-day moving average is $24.65. The stock has a market capitalization of $2.86 billion, a PE ratio of -22.41 and a beta of 1.17.

Olin Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Thursday, May 14th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Thursday, May 14th. Olin’s payout ratio is presently -71.43%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on OLN shares. Citigroup upped their target price on shares of Olin from $26.00 to $30.00 and gave the company a “neutral” rating in a report on Thursday, April 16th. UBS Group upped their target price on shares of Olin from $29.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, May 13th. The Goldman Sachs Group upped their target price on shares of Olin from $22.00 to $31.00 and gave the company a “neutral” rating in a report on Tuesday, May 12th. Truist Financial upped their target price on shares of Olin from $20.00 to $26.00 and gave the company a “hold” rating in a report on Monday, May 11th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Olin in a report on Friday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Olin has a consensus rating of “Hold” and an average target price of $28.08.

Olin 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.