Lodge Hill Capital LLC Has $23.10 Million Holdings in Olin Co. (NYSE:OLN)

Lodge Hill Capital LLC lessened its holdings in shares of Olin Co. (NYSE:OLN) by 3.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 490,000 shares of the specialty chemicals company’s stock after selling 20,000 shares during the quarter. Olin makes up approximately 6.2% of Lodge Hill Capital LLC’s portfolio, making the stock its 5th largest holding. Lodge Hill Capital LLC owned 0.41% of Olin worth $23,104,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in OLN. Hotchkis & Wiley Capital Management LLC boosted its stake in shares of Olin by 3.2% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 6,602,331 shares of the specialty chemicals company’s stock worth $356,196,000 after acquiring an additional 203,260 shares in the last quarter. Boston Partners lifted its holdings in Olin by 7.7% in the 1st quarter. Boston Partners now owns 5,414,265 shares of the specialty chemicals company’s stock worth $317,897,000 after purchasing an additional 384,888 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Olin by 5.5% during the second quarter. Dimensional Fund Advisors LP now owns 3,741,007 shares of the specialty chemicals company’s stock worth $176,396,000 after purchasing an additional 194,755 shares during the period. Balyasny Asset Management L.P. grew its holdings in Olin by 218.6% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,649,273 shares of the specialty chemicals company’s stock valued at $88,978,000 after purchasing an additional 1,131,674 shares during the last quarter. Finally, Norges Bank acquired a new position in Olin during the fourth quarter valued at approximately $76,125,000. 88.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

OLN has been the subject of several recent analyst reports. Wells Fargo & Company decreased their price objective on shares of Olin from $50.00 to $48.00 and set an “equal weight” rating for the company in a report on Monday, July 29th. Mizuho initiated coverage on shares of Olin in a research report on Thursday, August 8th. They set a “neutral” rating and a $45.00 target price on the stock. KeyCorp reduced their price target on shares of Olin from $69.00 to $62.00 and set an “overweight” rating for the company in a report on Monday, July 29th. BMO Capital Markets started coverage on shares of Olin in a research report on Tuesday, September 3rd. They set a “market perform” rating and a $50.00 price objective for the company. Finally, Royal Bank of Canada reduced their target price on shares of Olin from $61.00 to $52.00 and set an “outperform” rating for the company in a research note 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $52.73.

Olin Price Performance

NYSE:OLN opened at $44.10 on Friday. The firm has a market cap of $5.18 billion, a PE ratio of 15.86, a price-to-earnings-growth ratio of 0.94 and a beta of 1.41. The company’s 50-day moving average price is $43.84 and its two-hundred day moving average price is $50.11. The company has a quick ratio of 0.82, a current ratio of 1.43 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 issued its quarterly earnings data on Thursday, July 25th. The specialty chemicals company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.08). Olin had a net margin of 4.26% and a return on equity of 11.73%. The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter in the previous year, the firm posted $1.13 EPS. The company’s revenue for the quarter was down 3.5% compared to the same quarter last year. On average, equities analysts anticipate that Olin Co. will post 1.61 EPS for the current fiscal year.

Olin Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Thursday, August 8th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.81%. The ex-dividend date was Thursday, August 8th. Olin’s payout ratio is presently 28.78%.

Olin Profile

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.