7,354 Shares in Olin Co. (NYSE:OLN) Purchased by Dark Forest Capital Management LP

Dark Forest Capital Management LP purchased a new stake in shares of Olin Co. (NYSE:OLN) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 7,354 shares of the specialty chemicals company’s stock, valued at approximately $347,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in OLN. LRI Investments LLC bought a new position in shares of Olin in the first quarter valued at approximately $28,000. EverSource Wealth Advisors LLC raised its position 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 second quarter worth $33,000. Quarry LP bought a new stake in shares of Olin during the fourth quarter worth $50,000. Finally, Denver PWM LLC acquired a new stake in shares of Olin in the second quarter valued at $59,000. 88.67% of the stock is currently owned by institutional investors and hedge funds.

Olin Stock Up 0.9 %

Olin stock opened at $48.97 on Friday. The firm has a market capitalization of $5.76 billion, a price-to-earnings ratio of 17.62, a PEG ratio of 1.00 and a beta of 1.41. The company’s 50 day simple moving average is $43.58 and its 200 day simple moving average is $49.78. 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 Co. has a fifty-two week low of $39.47 and a fifty-two week high of $60.60.

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

Olin Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Thursday, August 8th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.63%. The ex-dividend date was Thursday, August 8th. Olin’s dividend payout ratio (DPR) is presently 28.78%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on OLN. JPMorgan Chase & Co. upgraded shares of Olin from a “neutral” rating to an “overweight” rating and set a $55.00 price target on the stock in a research report on Monday, July 29th. Royal Bank of Canada lowered their price target on shares of Olin from $61.00 to $52.00 and set an “outperform” rating for the company in a report on Monday, July 29th. KeyCorp reduced their price objective on Olin from $69.00 to $62.00 and set an “overweight” rating on the stock in a report on Monday, July 29th. UBS Group lowered their target price on Olin from $59.00 to $51.00 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. Finally, Barclays cut their price target on Olin from $59.00 to $49.00 and set an “equal weight” 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 assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Olin currently has an average rating of “Hold” and an average 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.