Magnetar Financial LLC Takes Position in Olin Co. (NYSE:OLN)

Magnetar Financial LLC acquired a new stake in shares of Olin Co. (NYSE:OLN) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 49,840 shares of the specialty chemicals company’s stock, valued at approximately $2,350,000.

Several other institutional investors have also bought and sold shares of the stock. LRI Investments LLC purchased a new position in Olin in the first quarter worth $28,000. EverSource Wealth Advisors LLC lifted its position in shares of Olin by 4,375.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 537 shares of the specialty chemicals company’s stock valued at $32,000 after buying an additional 525 shares during the last quarter. nVerses Capital LLC purchased a new position in shares of Olin during the 2nd quarter valued at $33,000. Quarry LP purchased a new position in shares of Olin during the 4th quarter valued at $50,000. Finally, Denver PWM LLC purchased a new position in shares of Olin during the 2nd quarter valued at $59,000. Institutional investors own 88.67% of the company’s stock.

Olin Trading Up 0.9 %

NYSE OLN opened at $44.51 on Tuesday. Olin Co. has a fifty-two week low of $39.47 and a fifty-two week high of $60.60. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.82 and a current ratio of 1.43. The stock has a 50 day simple moving average of $43.77 and a two-hundred day simple moving average of $49.95. The stock has a market cap of $5.32 billion, a P/E ratio of 16.01, a price-to-earnings-growth ratio of 0.94 and a beta of 1.41.

Olin (NYSE:OLN) last released 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). The firm had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.71 billion. Olin had a net margin of 4.26% and a return on equity of 11.73%. The company’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.13 EPS. On average, 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. Investors of record on Thursday, August 8th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date was Thursday, August 8th. Olin’s dividend payout ratio (DPR) is presently 28.78%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on OLN. BMO Capital Markets began coverage on Olin in a report on Tuesday, September 3rd. They set a “market perform” rating and a $50.00 price objective on the stock. Bank of America cut Olin from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $62.00 to $51.00 in a report on Monday, July 29th. JPMorgan Chase & Co. upgraded Olin from a “neutral” rating to an “overweight” rating and set a $55.00 target price on the stock in a research note on Monday, July 29th. Wells Fargo & Company decreased their target price on Olin from $50.00 to $48.00 and set an “equal weight” rating on the stock in a research note on Monday, July 29th. Finally, KeyCorp decreased their target price on Olin from $69.00 to $62.00 and set an “overweight” rating on the stock in a research note on Monday, July 29th. One research analyst has rated the stock with a sell rating, nine have issued 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 an average price target of $52.73.

Olin Company 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.