Empowered Funds LLC Acquires 414,309 Shares of Olin Corporation $OLN

Empowered Funds LLC increased its stake in Olin Corporation (NYSE:OLN) by 1,946.0% in the 1st quarter, HoldingsChannel reports. The fund owned 435,599 shares of the specialty chemicals company’s stock after acquiring an additional 414,309 shares during the period. Empowered Funds LLC’s holdings in Olin were worth $12,950,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Values First Advisors Inc. raised its position in Olin by 3.4% during the first quarter. Values First Advisors Inc. now owns 12,909 shares of the specialty chemicals company’s stock valued at $384,000 after purchasing an additional 425 shares during the period. Covestor Ltd boosted its holdings in shares of Olin by 10.6% in the 4th quarter. Covestor Ltd now owns 5,189 shares of the specialty chemicals company’s stock worth $108,000 after purchasing an additional 497 shares during the period. Oregon Public Employees Retirement Fund increased its position in shares of Olin by 2.2% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 23,302 shares of the specialty chemicals company’s stock valued at $693,000 after purchasing an additional 500 shares during the last quarter. Madison Asset Management LLC increased its position in shares of Olin by 0.6% during the 4th quarter. Madison Asset Management LLC now owns 97,616 shares of the specialty chemicals company’s stock valued at $2,033,000 after purchasing an additional 555 shares during the last quarter. Finally, First Citizens Bank & Trust Co. raised its holdings in Olin by 2.0% during the 1st quarter. First Citizens Bank & Trust Co. now owns 31,230 shares of the specialty chemicals company’s stock valued at $928,000 after buying an additional 609 shares during the period. 88.67% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

OLN has been the subject of a number of analyst reports. UBS Group raised their price target on Olin from $29.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 13th. Wall Street Zen lowered shares of Olin from a “hold” rating to a “sell” rating in a report on Saturday, June 27th. JPMorgan Chase & Co. cut their price target on shares of Olin from $26.00 to $25.00 and set a “neutral” rating on the stock in a report on Thursday, June 18th. The Goldman Sachs Group decreased their price objective on shares of Olin from $31.00 to $24.00 and set a “neutral” rating for the company in a research note on Thursday, July 16th. Finally, Zacks Research upgraded Olin from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have issued a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $26.46.

Olin Stock Performance

Shares of Olin stock opened at $22.19 on Thursday. The company has a current ratio of 1.36, a quick ratio of 0.82 and a debt-to-equity ratio of 1.73. The firm has a market cap of $2.53 billion, a P/E ratio of -19.82 and a beta of 1.21. The stock’s fifty day moving average price is $22.95 and its 200-day moving average price is $24.80. Olin Corporation has a 12 month low of $18.08 and a 12 month high of $30.46.

Olin Company 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.