Unison Advisors LLC Takes $745,000 Position in Olin Corporation $OLN

Unison Advisors LLC acquired a new position in Olin Corporation (NYSE:OLN) during the 4th quarter, HoldingsChannel.com reports. The firm acquired 35,751 shares of the specialty chemicals company’s stock, valued at approximately $745,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Choreo LLC bought a new position in Olin during the 3rd quarter worth approximately $726,000. Thrivent Financial for Lutherans increased its stake in Olin by 6.9% in the 3rd quarter. Thrivent Financial for Lutherans now owns 1,639,624 shares of the specialty chemicals company’s stock worth $40,974,000 after purchasing an additional 105,484 shares during the period. V. M. Manning & CO. Inc. bought a new stake in Olin in the second quarter valued at approximately $989,000. Invenomic Capital Management LP purchased a new stake in shares of Olin during the third quarter valued at approximately $5,761,000. Finally, SG Americas Securities LLC boosted its stake in shares of Olin by 142.0% during the fourth quarter. SG Americas Securities LLC now owns 455,757 shares of the specialty chemicals company’s stock valued at $9,493,000 after purchasing an additional 267,458 shares during the period. Institutional investors own 88.67% of the company’s stock.

Olin Stock Performance

Shares of OLN stock opened at $28.54 on Monday. The firm has a market capitalization of $3.25 billion, a price-to-earnings ratio of -75.11 and a beta of 1.37. The stock has a fifty day moving average of $25.15 and a 200 day moving average of $23.13. Olin Corporation has a 52 week low of $17.66 and a 52 week high of $30.46. The company has a quick ratio of 0.73, a current ratio of 1.21 and a debt-to-equity ratio of 1.45.

Olin (NYSE:OLN) last issued its quarterly earnings data on Thursday, January 29th. The specialty chemicals company reported ($0.58) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.58). Olin had a negative net margin of 0.63% and a negative return on equity of 0.48%. The business had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same period in the previous year, the firm earned $0.09 EPS. The company’s quarterly revenue was down .4% compared to the same quarter last year. As a group, research analysts expect that Olin Corporation will post 1.38 earnings per share for the current year.

Olin Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Tuesday, March 3rd were given a dividend of $0.20 per share. The ex-dividend date was Tuesday, March 3rd. This represents a $0.80 annualized dividend and a dividend yield of 2.8%. Olin’s payout ratio is currently -210.53%.

Insider Buying and Selling

In other Olin news, VP Angela M. Castle sold 2,379 shares of Olin stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $24.25, for a total transaction of $57,690.75. Following the sale, the vice president directly owned 1,528 shares of the company’s stock, valued at approximately $37,054. The trade was a 60.89% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Todd A. Slater sold 92,250 shares of the company’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $22.48, for a total value of $2,073,780.00. Following the transaction, the chief financial officer owned 44,291 shares in the company, valued at $995,661.68. This trade represents a 67.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 99,379 shares of company stock valued at $2,238,298 over the last three months. Corporate insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

OLN has been the topic of several recent analyst reports. Citigroup raised their target price on shares of Olin from $21.00 to $26.00 and gave the stock a “neutral” rating in a report on Thursday, March 12th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $26.00 price target on shares of Olin in a research report on Tuesday, February 10th. Zacks Research lowered shares of Olin from a “hold” rating to a “strong sell” rating in a report on Thursday, January 29th. BMO Capital Markets decreased their price objective on shares of Olin from $25.00 to $24.00 and set a “market perform” rating on the stock in a research report on Tuesday, February 3rd. Finally, Mizuho upped their price objective on shares of Olin from $24.00 to $26.00 and gave the company a “neutral” rating in a research note on Tuesday, March 31st. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Olin presently has an average rating of “Hold” and a consensus price target of $23.87.

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.