Y Intercept Hong Kong Ltd Increases Position in Olin Corporation $OLN

Y Intercept Hong Kong Ltd increased its position in Olin Corporation (NYSE:OLN) by 38.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 102,554 shares of the specialty chemicals company’s stock after acquiring an additional 28,247 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Olin were worth $3,049,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in OLN. Orbis Allan Gray Ltd grew its stake in Olin by 448.9% during 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 boosted its position in Olin by 1,063.0% in the third quarter. Millennium Management LLC now owns 2,486,702 shares of the specialty chemicals company’s stock valued at $62,143,000 after buying an additional 2,272,877 shares during the last quarter. Semper Augustus Investments Group LLC increased its holdings in Olin by 141.3% in 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 buying an additional 1,126,809 shares during the period. Amundi purchased a new position in Olin during the 3rd quarter worth approximately $24,418,000. Finally, AQR Capital Management LLC lifted its stake in Olin by 80.5% during the 3rd quarter. AQR Capital Management LLC now owns 1,811,533 shares of the specialty chemicals company’s stock valued at $44,564,000 after acquiring an additional 807,846 shares during the period. Institutional investors and hedge funds own 88.67% of the company’s stock.

Olin Price Performance

Shares of OLN stock traded up $0.34 during mid-day trading on Tuesday, hitting $20.09. 561,032 shares of the stock were exchanged, compared to its average volume of 2,934,813. The company has a quick ratio of 0.82, a current ratio of 1.36 and a debt-to-equity ratio of 1.73. Olin Corporation has a 52-week low of $18.08 and a 52-week high of $30.46. The firm has a fifty day moving average of $24.80 and a 200 day moving average of $24.69. The company has a market cap of $2.29 billion, a PE ratio of -17.93 and a beta of 1.21.

Olin Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Thursday, May 14th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 4.0%. The ex-dividend date was Thursday, May 14th. Olin’s dividend payout ratio is -71.43%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on OLN. Truist Financial upped their price objective on shares of Olin from $20.00 to $26.00 and gave the company a “hold” rating in a report on Monday, May 11th. The Goldman Sachs Group boosted their target price on shares of Olin from $22.00 to $31.00 and gave the company a “neutral” rating in a research report on Tuesday, May 12th. Citigroup lowered shares of Olin from a “neutral” rating to an “underperform” rating in a report on Tuesday, June 30th. Morgan Stanley upped their target price on Olin from $18.00 to $22.00 and gave the stock an “underweight” rating in a research note on Monday, May 11th. Finally, Zacks Research raised Olin from a “strong sell” rating to a “hold” rating in a report on Monday, April 13th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have assigned a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Olin has an average rating of “Hold” and an average price target of $27.15.

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.