Headlands Technologies LLC Increases Stock Position in Olin Co. (NYSE:OLN)

Headlands Technologies LLC grew its stake in shares of Olin Co. (NYSE:OLN) by 493.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,993 shares of the specialty chemicals company’s stock after acquiring an additional 5,815 shares during the quarter. Headlands Technologies LLC’s holdings in Olin were worth $330,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. BNP Paribas Financial Markets lifted its stake in shares of Olin by 34.6% in the 4th quarter. BNP Paribas Financial Markets now owns 188,973 shares of the specialty chemicals company’s stock worth $10,195,000 after purchasing an additional 48,625 shares during the period. Campbell & CO Investment Adviser LLC bought a new stake in shares of Olin during the fourth quarter valued at approximately $3,350,000. Harbor Capital Advisors Inc. grew its holdings in shares of Olin by 344.3% in the second quarter. Harbor Capital Advisors Inc. now owns 40,760 shares of the specialty chemicals company’s stock valued at $1,922,000 after purchasing an additional 31,587 shares in the last quarter. CastleKnight Management LP bought a new stake in Olin in the fourth quarter worth $1,014,000. Finally, Bridgewater Associates LP increased its position in Olin by 36.6% in the fourth quarter. Bridgewater Associates LP now owns 321,891 shares of the specialty chemicals company’s stock worth $17,366,000 after purchasing an additional 86,214 shares during the last quarter. Hedge funds and other institutional investors own 88.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. BMO Capital Markets assumed coverage on shares of Olin in a research report on Tuesday, September 3rd. They issued a “market perform” rating and a $50.00 price target on the stock. Royal Bank of Canada reduced their price target on shares of Olin from $61.00 to $52.00 and set an “outperform” rating on the stock in a research report on Monday, July 29th. Mizuho assumed coverage on shares of Olin in a research report on Thursday, August 8th. They issued a “neutral” rating and a $45.00 price target on the stock. The Goldman Sachs Group reduced their price target on shares of Olin from $55.00 to $49.00 and set a “neutral” rating on the stock in a research report on Monday, July 29th. Finally, Bank of America cut shares of Olin from a “buy” rating to a “neutral” rating and cut their price objective for the company from $62.00 to $51.00 in a research report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Olin presently has a consensus rating of “Hold” and a consensus price target of $52.73.

Olin Trading Up 2.7 %

Shares of Olin stock opened at $42.96 on Friday. The firm has a market capitalization of $5.13 billion, a PE ratio of 15.45, a P/E/G ratio of 0.89 and a beta of 1.41. Olin Co. has a twelve month low of $39.47 and a twelve month high of $60.60. The firm’s 50-day moving average price is $44.15 and its 200 day moving average price is $50.46. The company has a current ratio of 1.43, a quick ratio of 0.82 and a debt-to-equity ratio of 1.29.

Olin (NYSE:OLN) last released its earnings results on Thursday, July 25th. The specialty chemicals company reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.08). The business had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.71 billion. Olin had a return on equity of 11.73% and a net margin of 4.26%. The company’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period last year, the business earned $1.13 earnings per share. On average, sell-side analysts predict that Olin Co. will post 1.61 EPS for the current fiscal year.

Olin Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Thursday, August 8th were given a $0.20 dividend. The ex-dividend date was Thursday, August 8th. This represents a $0.80 annualized dividend and a yield of 1.86%. Olin’s dividend payout ratio is presently 28.78%.

About Olin

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.