CenterBook Partners LP Has $10.17 Million Holdings in Olin Corporation $OLN

CenterBook Partners LP lifted its holdings in Olin Corporation (NYSE:OLN) by 348.0% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 488,330 shares of the specialty chemicals company’s stock after acquiring an additional 379,337 shares during the period. CenterBook Partners LP’s holdings in Olin were worth $10,172,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of OLN. Millennium Management LLC grew its stake in shares of 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 acquiring an additional 2,272,877 shares in the last quarter. Semper Augustus Investments Group LLC grew its stake in shares of Olin by 141.3% in the third quarter. Semper Augustus Investments Group LLC now owns 1,924,245 shares of the specialty chemicals company’s stock valued at $48,087,000 after acquiring an additional 1,126,809 shares in the last quarter. Amundi acquired a new position in shares of Olin in the third quarter valued at about $24,418,000. AQR Capital Management LLC grew its stake 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 acquiring an additional 807,846 shares in the last quarter. Finally, Qube Research & Technologies Ltd acquired a new position in shares of Olin in the second quarter valued at about $15,510,000. 88.67% of the stock is currently owned by institutional investors and hedge funds.

Olin Stock Performance

NYSE OLN opened at $24.50 on Monday. 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 capitalization of $2.79 billion, a price-to-earnings ratio of -21.87 and a beta of 1.17. The firm’s 50 day simple moving average is $27.40 and its 200 day simple moving average is $24.47. Olin Corporation has a 1 year low of $18.08 and a 1 year high of $30.46.

Olin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Thursday, May 14th will be given a dividend of $0.20 per share. The ex-dividend date is Thursday, May 14th. This represents a $0.80 annualized dividend and a dividend yield of 3.3%. Olin’s dividend payout ratio (DPR) is currently -71.43%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on OLN shares. Wells Fargo & Company restated an “overweight” rating and issued a $37.00 price target on shares of Olin in a research note on Sunday, May 10th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $26.00 price target on shares of Olin in a research note on Tuesday, February 10th. Zacks Research upgraded shares of Olin from a “strong sell” rating to a “hold” rating in a research note on Monday, April 13th. The Goldman Sachs Group upped their price objective on shares of Olin from $22.00 to $31.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 12th. Finally, UBS Group raised their target price on shares of Olin from $29.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $28.08.

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.