Resolute Capital Asset Partners LLC Invests $1.41 Million in Olin Co. (NYSE:OLN)

Resolute Capital Asset Partners LLC acquired a new stake in Olin Co. (NYSE:OLN) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 30,000 shares of the specialty chemicals company’s stock, valued at approximately $1,414,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Olin in the fourth quarter valued at approximately $3,350,000. Harbor Capital Advisors Inc. increased its stake in Olin by 344.3% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 40,760 shares of the specialty chemicals company’s stock valued at $1,922,000 after buying an additional 31,587 shares during the last quarter. CastleKnight Management LP bought a new stake in Olin during the 4th quarter worth about $1,014,000. Bridgewater Associates LP boosted its stake in shares of Olin by 36.6% during the 4th quarter. Bridgewater Associates LP now owns 321,891 shares of the specialty chemicals company’s stock worth $17,366,000 after buying an additional 86,214 shares during the last quarter. Finally, SG Americas Securities LLC grew its holdings in shares of Olin by 1,220.6% in the 2nd quarter. SG Americas Securities LLC now owns 50,050 shares of the specialty chemicals company’s stock valued at $2,360,000 after acquiring an additional 46,260 shares in the last quarter. Institutional investors and hedge funds own 88.67% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on OLN shares. Royal Bank of Canada dropped their target price on Olin from $61.00 to $52.00 and set an “outperform” rating on the stock in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Olin from $57.00 to $48.00 and set a “hold” rating for the company in a research note on Monday, July 29th. Wells Fargo & Company dropped their price target on shares of Olin from $50.00 to $48.00 and set an “equal weight” rating on the stock in a research report on Monday, July 29th. The Goldman Sachs Group lowered their price objective on shares of Olin from $55.00 to $49.00 and set a “neutral” rating on the stock in a research note on Monday, July 29th. Finally, JPMorgan Chase & Co. raised shares of Olin from a “neutral” rating to an “overweight” rating and set a $55.00 target price on the stock in a report on Monday, July 29th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Olin presently has an average rating of “Hold” and an average target price of $52.73.

Olin Price Performance

Olin stock opened at $43.07 on Thursday. The company has a market capitalization of $5.14 billion, a price-to-earnings ratio of 15.49, a PEG ratio of 0.91 and a beta of 1.41. The stock’s 50 day moving average is $43.98 and its 200-day moving average is $50.23. 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 Co. has a 12 month low of $39.47 and a 12 month high of $60.60.

Olin (NYSE:OLN) last posted its quarterly earnings data on Thursday, July 25th. The specialty chemicals company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.08). Olin had a return on equity of 11.73% and a net margin of 4.26%. The firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter in the previous year, the business earned $1.13 EPS. The firm’s quarterly revenue was down 3.5% on a year-over-year basis. Equities research analysts expect that Olin Co. will post 1.61 EPS for the current year.

Olin Announces Dividend

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