Marnell Management LLC Acquires New Position in Olin Corporation $OLN

Marnell Management LLC acquired a new stake in Olin Corporation (NYSE:OLN) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 45,700 shares of the specialty chemicals company’s stock, valued at approximately $952,000.

Other hedge funds have also added to or reduced their stakes in the company. Strategic Advocates LLC bought a new position in Olin in the third quarter valued at approximately $25,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Olin during the first quarter worth about $32,000. Bessemer Group Inc. lifted its holdings in shares of Olin by 712.7% in the third quarter. Bessemer Group Inc. now owns 1,341 shares of the specialty chemicals company’s stock worth $34,000 after acquiring an additional 1,176 shares during the last quarter. Allworth Financial LP boosted its stake in shares of Olin by 114.0% in the 3rd quarter. Allworth Financial LP now owns 1,740 shares of the specialty chemicals company’s stock valued at $43,000 after purchasing an additional 927 shares in the last quarter. Finally, UMB Bank n.a. boosted its stake in shares of Olin by 34.0% in the 4th quarter. UMB Bank n.a. now owns 2,597 shares of the specialty chemicals company’s stock valued at $54,000 after purchasing an additional 659 shares in the last quarter. 88.67% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Truist Financial raised their target price on shares of Olin from $20.00 to $26.00 and gave the company a “hold” rating in a research report on Monday, May 11th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Olin in a research note on Friday, May 22nd. The Goldman Sachs Group boosted their target price on shares of Olin from $22.00 to $31.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 12th. Royal Bank Of Canada set a $30.00 target price on shares of Olin and gave the stock a “sector perform” rating in a research note on Friday, April 10th. Finally, UBS Group boosted their target price on shares of Olin from $29.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $28.08.

Olin Price Performance

OLN stock opened at $25.10 on Monday. The firm has a market cap of $2.86 billion, a price-to-earnings ratio of -22.41 and a beta of 1.17. The company has a quick ratio of 0.82, a current ratio of 1.36 and a debt-to-equity ratio of 1.73. Olin Corporation has a 12-month low of $18.08 and a 12-month high of $30.46. The company’s fifty day simple moving average is $26.93 and its 200 day simple moving average is $24.65.

Olin Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Thursday, May 14th were issued a $0.20 dividend. The ex-dividend date was Thursday, May 14th. This represents a $0.80 annualized dividend and a yield of 3.2%. Olin’s payout ratio is presently -71.43%.

Olin Profile

Olin Corporation is a diversified manufacturer specializing in chemical products and ammunition. The company’s core business activities encompass the production and distribution of chlor-alkali products, epoxy resins and derivatives, and small-caliber ammunition under the Winchester brand. Olin’s chemical operations supply chlorine, caustic soda and related co-products to a wide range of end markets, including water treatment, pulp and paper, pharmaceuticals and general industrial applications.

In its Chlor Alkali Products & Vinyls segment, Olin operates multiple manufacturing facilities that produce chlorine and sodium hydroxide, along with vinyl chloride monomer and polyvinyl chloride (PVC) compounds.