Game Creek Capital LP reduced its stake in shares of Olin Co. (NYSE:OLN) by 47.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 79,250 shares of the specialty chemicals company’s stock after selling 71,250 shares during the period. Game Creek Capital LP’s holdings in Olin were worth $1,594,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in OLN. Russell Investments Group Ltd. lifted its holdings in shares of Olin by 74.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 46,977 shares of the specialty chemicals company’s stock worth $1,209,000 after acquiring an additional 20,026 shares during the period. Acadian Asset Management LLC purchased a new position in shares of Olin during the 3rd quarter worth about $236,000. Victory Capital Management Inc. purchased a new position in shares of Olin during the 3rd quarter worth about $9,256,000. American Century Companies Inc. purchased a new position in shares of Olin during the 3rd quarter worth about $3,188,000. Finally, SG Americas Securities LLC lifted its holdings in shares of Olin by 122.1% during the 3rd quarter. SG Americas Securities LLC now owns 141,684 shares of the specialty chemicals company’s stock worth $3,638,000 after acquiring an additional 77,894 shares during the period. Institutional investors and hedge funds own 86.20% of the company’s stock.
In other Olin news, VP Brett A. Flaugher sold 12,500 shares of the stock in a transaction that occurred on Friday, February 22nd. The shares were sold at an average price of $26.53, for a total value of $331,625.00. Following the completion of the sale, the vice president now owns 40,629 shares of the company’s stock, valued at $1,077,887.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.90% of the stock is owned by company insiders.
Olin (NYSE:OLN) last issued its quarterly earnings data on Monday, February 4th. The specialty chemicals company reported $0.32 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.02). Olin had a net margin of 4.72% and a return on equity of 10.42%. The firm had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.70 billion. During the same period last year, the business earned $2.89 EPS. The firm’s revenue was up .9% compared to the same quarter last year. On average, analysts anticipate that Olin Co. will post 1.87 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Monday, February 11th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.38%. The ex-dividend date of this dividend was Friday, February 8th. Olin’s dividend payout ratio (DPR) is 45.71%.
Several research analysts have recently weighed in on the stock. KeyCorp assumed coverage on shares of Olin in a report on Monday, January 28th. They set an “overweight” rating and a $30.00 price objective on the stock. Zacks Investment Research upgraded shares of Olin from a “sell” rating to a “hold” rating in a report on Friday, January 4th. ValuEngine upgraded shares of Olin from a “sell” rating to a “hold” rating in a report on Wednesday, February 13th. Cowen restated an “outperform” rating and issued a $32.00 price target on shares of Olin in a report on Wednesday, February 6th. Finally, Nomura lowered shares of Olin from a “neutral” rating to a “reduce” rating and cut their price target for the company from $23.00 to $22.00 in a report on Wednesday, January 30th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the stock. Olin currently has a consensus rating of “Hold” and an average price target of $29.27.
Olin Company Profile
Olin Corporation manufactures and distributes chemical products in the United States and internationally. 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, trichloroethylene and vinylidene chloride, hydrochloric acid, hydrogen, bleach products, and potassium hydroxide.
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