Jump Financial LLC Reduces Holdings in Olin Co. (NYSE:OLN)

Jump Financial LLC lowered its stake in shares of Olin Co. (NYSE:OLN) by 20.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 84,791 shares of the specialty chemicals company’s stock after selling 22,282 shares during the quarter. Jump Financial LLC’s holdings in Olin were worth $2,866,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Covestor Ltd increased its stake in Olin by 45.8% during the 4th quarter. Covestor Ltd now owns 1,334 shares of the specialty chemicals company’s stock valued at $45,000 after purchasing an additional 419 shares in the last quarter. Spire Wealth Management increased its position in shares of Olin by 246.8% in the 4th quarter. Spire Wealth Management now owns 1,616 shares of the specialty chemicals company’s stock valued at $55,000 after acquiring an additional 1,150 shares during the period. CoreFirst Bank & Trust purchased a new position in Olin in the 4th quarter worth $66,000. Jones Financial Companies Lllp lifted its position in Olin by 59.9% during the 4th quarter. Jones Financial Companies Lllp now owns 2,431 shares of the specialty chemicals company’s stock worth $82,000 after acquiring an additional 911 shares during the period. Finally, Blue Trust Inc. grew its stake in Olin by 34.3% during the 4th quarter. Blue Trust Inc. now owns 2,887 shares of the specialty chemicals company’s stock valued at $98,000 after purchasing an additional 738 shares during the last quarter. 88.67% of the stock is currently owned by institutional investors and hedge funds.

Olin Stock Performance

NYSE OLN opened at $20.83 on Friday. The stock has a market capitalization of $2.40 billion, a price-to-earnings ratio of 23.14 and a beta of 1.50. The stock has a 50-day moving average of $24.17 and a 200 day moving average of $33.63. The company has a current ratio of 1.27, a quick ratio of 0.77 and a debt-to-equity ratio of 1.32. Olin Co. has a twelve month low of $17.66 and a twelve month high of $57.10.

Olin (NYSE:OLN) last announced its earnings results on Thursday, January 30th. The specialty chemicals company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.10. Olin had a return on equity of 5.10% and a net margin of 1.66%. Sell-side analysts anticipate that Olin Co. will post 1.38 EPS for the current fiscal year.

Olin Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, March 6th were given a $0.20 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $0.80 annualized dividend and a dividend yield of 3.84%. Olin’s dividend payout ratio (DPR) is 88.89%.

Analyst Upgrades and Downgrades

OLN has been the subject of several research analyst reports. UBS Group reduced their price objective on Olin from $34.00 to $21.00 and set a “neutral” rating for the company in a research note on Monday, April 7th. Mizuho set a $23.00 price target on shares of Olin in a research report on Tuesday. Truist Financial dropped their price objective on shares of Olin from $32.00 to $25.00 and set a “hold” rating on the stock in a report on Monday. Barclays reduced their target price on shares of Olin from $34.00 to $28.00 and set an “equal weight” rating for the company in a report on Tuesday, April 1st. Finally, KeyCorp lowered their price target on shares of Olin from $40.00 to $34.00 and set an “overweight” rating on the stock in a report on Monday. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Olin has a consensus rating of “Hold” and an average target price of $33.25.

Insider Transactions at Olin

In other news, CEO Kenneth Todd Lane acquired 7,250 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were bought at an average cost of $28.06 per share, for a total transaction of $203,435.00. Following the acquisition, the chief executive officer now owns 7,250 shares in the company, valued at approximately $203,435. This represents a ? increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.60% of the company’s stock.

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.