SG Americas Securities LLC Trims Stock Holdings in Olin Corporation $OLN

SG Americas Securities LLC reduced its position in Olin Corporation (NYSE:OLN) by 22.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 353,924 shares of the specialty chemicals company’s stock after selling 101,833 shares during the quarter. SG Americas Securities LLC owned about 0.31% of Olin worth $10,522,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Orbis Allan Gray Ltd raised its position in Olin by 448.9% in the 4th quarter. Orbis Allan Gray Ltd now owns 3,804,561 shares of the specialty chemicals company’s stock valued at $79,249,000 after purchasing an additional 3,111,393 shares during the last quarter. Millennium Management LLC grew its position in Olin by 1,063.0% during the 3rd quarter. Millennium Management LLC now owns 2,486,702 shares of the specialty chemicals company’s stock worth $62,143,000 after purchasing an additional 2,272,877 shares during the last quarter. Semper Augustus Investments Group LLC grew its position in Olin by 141.3% during the 3rd quarter. Semper Augustus Investments Group LLC now owns 1,924,245 shares of the specialty chemicals company’s stock worth $48,087,000 after purchasing an additional 1,126,809 shares during the last quarter. Amundi acquired a new position in Olin in the third quarter valued at $24,418,000. Finally, AQR Capital Management LLC raised its holdings in shares of Olin by 80.5% in the third quarter. AQR Capital Management LLC now owns 1,811,533 shares of the specialty chemicals company’s stock valued at $44,564,000 after buying an additional 807,846 shares during the last quarter. 88.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on OLN. Weiss Ratings reissued a “sell (d)” rating on shares of Olin in a report on Friday, May 22nd. Morgan Stanley increased their price objective on Olin from $18.00 to $22.00 and gave the stock an “underweight” rating in a research report on Monday, May 11th. Truist Financial lifted their target price on Olin from $20.00 to $26.00 and gave the company a “hold” rating in a research note on Monday, May 11th. Wells Fargo & Company reissued an “overweight” rating and issued a $37.00 target price on shares of Olin in a report on Sunday, May 10th. Finally, The Goldman Sachs Group upped their price target on Olin from $22.00 to $31.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $28.00.

Olin Stock Up 1.3%

OLN opened at $21.66 on Friday. The company has a market cap of $2.47 billion, a price-to-earnings ratio of -19.34 and a beta of 1.17. Olin Corporation has a one year low of $18.08 and a one year high of $30.46. The business’s fifty day moving average is $25.62 and its two-hundred day moving average is $24.72. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.82 and a current ratio of 1.36.

Olin Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Thursday, May 14th were paid a $0.20 dividend. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $0.80 annualized dividend and a yield of 3.7%. Olin’s payout ratio is presently -71.43%.

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.