M3 Advisory Group LLC Makes New Investment in Olin Co. (NYSE:OLN)

M3 Advisory Group LLC bought a new position in Olin Co. (NYSE:OLNFree Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 20,097 shares of the specialty chemicals company’s stock, valued at approximately $1,084,000. Olin makes up approximately 1.3% of M3 Advisory Group LLC’s investment portfolio, making the stock its 20th biggest position.

Other large investors have also added to or reduced their stakes in the company. Covestor Ltd raised its holdings in Olin by 76.7% in the third quarter. Covestor Ltd now owns 659 shares of the specialty chemicals company’s stock worth $33,000 after purchasing an additional 286 shares in the last quarter. Sandy Spring Bank increased its holdings in shares of Olin by 145.6% during the fourth quarter. Sandy Spring Bank now owns 614 shares of the specialty chemicals company’s stock valued at $33,000 after acquiring an additional 364 shares in the last quarter. Quarry LP acquired a new position in shares of Olin during the fourth quarter valued at about $50,000. ORG Partners LLC increased its holdings in shares of Olin by 1,100.0% during the fourth quarter. ORG Partners LLC now owns 960 shares of the specialty chemicals company’s stock valued at $52,000 after acquiring an additional 880 shares in the last quarter. Finally, GAMMA Investing LLC acquired a new position in shares of Olin during the fourth quarter valued at about $96,000. 88.67% of the stock is currently owned by institutional investors.

Olin Trading Down 0.6 %

Shares of OLN traded down $0.28 during midday trading on Monday, reaching $49.69. The company had a trading volume of 1,063,531 shares, compared to its average volume of 988,341. Olin Co. has a 1-year low of $41.71 and a 1-year high of $60.60. The stock has a market cap of $5.93 billion, a PE ratio of 17.87, a price-to-earnings-growth ratio of 0.29 and a beta of 1.47. The firm has a 50 day simple moving average of $53.65 and a 200-day simple moving average of $53.61. The company has a quick ratio of 0.80, a current ratio of 1.38 and a debt-to-equity ratio of 1.22.

Olin (NYSE:OLNGet Free Report) last issued its earnings results on Friday, April 26th. The specialty chemicals company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.02. Olin had a return on equity of 14.47% and a net margin of 5.32%. The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same period last year, the company earned $1.16 EPS. The company’s revenue for the quarter was down 11.3% on a year-over-year basis. Research analysts forecast that Olin Co. will post 3.66 EPS for the current fiscal year.

Olin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Thursday, May 9th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date was Wednesday, May 8th. Olin’s payout ratio is 28.78%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on OLN. Barclays increased their price target on shares of Olin from $57.00 to $59.00 and gave the stock an “equal weight” rating in a report on Thursday, April 4th. Royal Bank of Canada cut their price target on shares of Olin from $69.00 to $63.00 and set an “outperform” rating on the stock in a report on Monday, April 29th. Wells Fargo & Company increased their price target on shares of Olin from $56.00 to $60.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 3rd. Piper Sandler increased their price target on shares of Olin from $72.00 to $75.00 and gave the stock an “overweight” rating in a report on Monday, April 29th. Finally, Citigroup increased their price target on shares of Olin from $63.00 to $67.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $60.00.

Read Our Latest Research Report on OLN

Olin Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Olin (NYSE:OLN)

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