Centiva Capital LP Takes Position in Olin Co. (NYSE:OLN)

Centiva Capital LP purchased a new stake in Olin Co. (NYSE:OLN) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 15,763 shares of the specialty chemicals company’s stock, valued at approximately $533,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of OLN. Covestor Ltd boosted its position in shares of Olin by 45.8% during the 4th quarter. Covestor Ltd now owns 1,334 shares of the specialty chemicals company’s stock worth $45,000 after purchasing an additional 419 shares in the last quarter. Wilmington Savings Fund Society FSB grew its position in Olin by 9.4% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 5,833 shares of the specialty chemicals company’s stock worth $197,000 after buying an additional 500 shares during the period. Connable Office Inc. increased its holdings in Olin by 9.3% in the fourth quarter. Connable Office Inc. now owns 6,207 shares of the specialty chemicals company’s stock valued at $210,000 after buying an additional 527 shares in the last quarter. First Citizens Bank & Trust Co. increased its holdings in Olin by 8.5% in the fourth quarter. First Citizens Bank & Trust Co. now owns 6,930 shares of the specialty chemicals company’s stock valued at $234,000 after buying an additional 542 shares in the last quarter. Finally, Blue Trust Inc. boosted its stake in shares of Olin by 34.3% during the 4th quarter. Blue Trust Inc. now owns 2,887 shares of the specialty chemicals company’s stock worth $98,000 after acquiring an additional 738 shares in the last quarter. Institutional investors and hedge funds own 88.67% of the company’s stock.

Olin Price Performance

OLN opened at $21.32 on Friday. Olin Co. has a 1 year low of $17.66 and a 1 year high of $57.10. The company’s 50 day simple moving average is $22.47 and its 200 day simple moving average is $30.81. The stock has a market capitalization of $2.45 billion, a PE ratio of 23.69 and a beta of 1.56. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.77 and a current ratio of 1.27.

Olin (NYSE:OLN) last announced its quarterly earnings results on Thursday, May 1st. The specialty chemicals company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.14. The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.58 billion. Olin had a net margin of 1.66% and a return on equity of 5.10%. Olin’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter last year, the business earned $0.40 EPS. As a group, sell-side analysts expect that Olin Co. will post 1.38 EPS for the current year.

Olin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Thursday, May 15th will be issued a $0.20 dividend. The ex-dividend date is Thursday, May 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.75%. Olin’s dividend payout ratio (DPR) is 156.86%.

Analyst Ratings Changes

OLN has been the subject of several research reports. Piper Sandler reduced their price objective on Olin from $33.00 to $26.00 and set a “neutral” rating for the company in a report on Monday, April 7th. The Goldman Sachs Group cut their price target on Olin from $33.00 to $25.00 and set a “neutral” rating for the company in a research note on Tuesday. Barclays lowered their price objective on shares of Olin from $34.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 1st. Mizuho set a $23.00 price target on shares of Olin in a report on Tuesday, April 15th. Finally, UBS Group raised their price objective on shares of Olin from $21.00 to $22.00 and gave the stock a “neutral” rating in a research note on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Olin presently has a consensus rating of “Hold” and a consensus target price of $28.60.

About Olin

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.