Aristides Capital LLC Buys Shares of 4,677 Olin Co. (NYSE:OLN)

Aristides Capital LLC purchased a new position 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 institutional investor purchased 4,677 shares of the specialty chemicals company’s stock, valued at approximately $221,000.

Several other hedge funds have also recently modified their holdings of OLN. Harbor Capital Advisors Inc. raised its position in Olin by 344.3% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 40,760 shares of the specialty chemicals company’s stock worth $1,922,000 after buying an additional 31,587 shares during the last quarter. CastleKnight Management LP purchased a new position in Olin during the fourth quarter worth about $1,014,000. Bridgewater Associates LP lifted 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 valued at $17,366,000 after purchasing an additional 86,214 shares during the period. SG Americas Securities LLC boosted its holdings in 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 purchasing an additional 46,260 shares in the last quarter. Finally, Clearbridge Investments LLC increased its position in Olin by 4.8% during the 1st quarter. Clearbridge Investments LLC now owns 777,658 shares of the specialty chemicals company’s stock worth $45,726,000 after purchasing an additional 35,637 shares during the period. 88.67% of the stock is owned by institutional investors and hedge funds.

Olin Price Performance

NYSE:OLN opened at $47.62 on Wednesday. The firm has a market cap of $5.60 billion, a price-to-earnings ratio of 17.13, a price-to-earnings-growth ratio of 1.00 and a beta of 1.41. Olin Co. has a 12-month low of $39.47 and a 12-month high of $60.60. The company has a current ratio of 1.43, a quick ratio of 0.82 and a debt-to-equity ratio of 1.29. The company’s 50-day moving average is $43.58 and its two-hundred day moving average is $49.60.

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

Olin Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Thursday, August 8th were paid a $0.20 dividend. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $0.80 annualized dividend and a yield of 1.68%. Olin’s payout ratio is currently 28.78%.

Analyst Ratings Changes

OLN has been the topic of a number of analyst reports. Royal Bank of Canada decreased their price target on Olin from $61.00 to $52.00 and set an “outperform” rating on the stock in a research note on Monday, July 29th. The Goldman Sachs Group lowered their price target 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. BMO Capital Markets assumed coverage on shares of Olin in a report on Tuesday, September 3rd. They issued a “market perform” rating and a $50.00 price target for the company. Mizuho started coverage on shares of Olin in a report on Thursday, August 8th. They set a “neutral” rating and a $45.00 price objective on the stock. Finally, UBS Group dropped their target price on shares of Olin from $59.00 to $51.00 and set a “neutral” rating for the company in a report on Tuesday, July 9th. 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target 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.