XTX Topco Ltd Acquires New Stake in Olin Co. (NYSE:OLN)

XTX Topco Ltd acquired a new stake in Olin Co. (NYSE:OLN) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 20,400 shares of the specialty chemicals company’s stock, valued at approximately $962,000.

Several other hedge funds have also recently added to or reduced their stakes in OLN. LRI Investments LLC acquired a new position in Olin in the 1st quarter valued at $28,000. EverSource Wealth Advisors LLC raised its stake in Olin by 4,375.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 537 shares of the specialty chemicals company’s stock valued at $32,000 after purchasing an additional 525 shares during the last quarter. nVerses Capital LLC acquired a new position in Olin in the 2nd quarter valued at $33,000. Quarry LP acquired a new position in Olin in the 4th quarter valued at $50,000. Finally, Denver PWM LLC acquired a new position in Olin in the 2nd quarter valued at $59,000. 88.67% of the stock is owned by institutional investors and hedge funds.

Olin Stock Performance

Shares of Olin stock opened at $44.10 on Friday. The business has a 50-day moving average of $43.84 and a 200 day moving average of $50.08. Olin Co. has a 12 month low of $39.47 and a 12 month high of $60.60. The stock has a market capitalization of $5.18 billion, a price-to-earnings ratio of 15.86, a price-to-earnings-growth ratio of 0.94 and a beta of 1.41. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.43 and a quick ratio of 0.82.

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

Olin Dividend Announcement

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

Analyst Ratings Changes

OLN has been the subject of a number of recent research reports. Barclays cut their target price on Olin from $59.00 to $49.00 and set an “equal weight” rating for the company in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft cut their target price on Olin from $57.00 to $48.00 and set a “hold” rating for the company in a research note on Monday, July 29th. KeyCorp cut their target price on Olin from $69.00 to $62.00 and set an “overweight” rating for the company in a research note on Monday, July 29th. Royal Bank of Canada cut their target price on Olin from $61.00 to $52.00 and set an “outperform” rating for the company in a research note on Monday, July 29th. Finally, The Goldman Sachs Group cut their target price on Olin from $55.00 to $49.00 and set a “neutral” 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 issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $52.73.

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.