Y Intercept Hong Kong Ltd Increases Stock Holdings in Olin Corporation $OLN

Y Intercept Hong Kong Ltd boosted its stake in shares of Olin Corporation (NYSE:OLN) by 38.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 102,554 shares of the specialty chemicals company’s stock after buying an additional 28,247 shares during the period. Y Intercept Hong Kong Ltd owned approximately 0.09% of Olin worth $3,049,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of OLN. Strategic Advocates LLC bought a new position in Olin during the third quarter valued at $25,000. Rockefeller Capital Management L.P. lifted its holdings in shares of Olin by 115.2% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,231 shares of the specialty chemicals company’s stock worth $26,000 after acquiring an additional 659 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Olin during the 1st quarter worth about $32,000. Allworth Financial LP grew its holdings in Olin by 114.0% during 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 during the last quarter. Finally, NewEdge Advisors LLC raised its position in Olin by 45.0% in the 3rd quarter. NewEdge Advisors LLC now owns 2,323 shares of the specialty chemicals company’s stock worth $58,000 after purchasing an additional 721 shares during the period. 88.67% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on OLN shares. UBS Group upped their target price on Olin from $29.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, May 13th. Truist Financial upped their price target on shares of Olin from $20.00 to $26.00 and gave the stock a “hold” rating in a report on Monday, May 11th. Weiss Ratings restated a “sell (d)” rating on shares of Olin in a research note on Friday, May 22nd. Wells Fargo & Company reissued an “overweight” rating and issued a $37.00 price objective on shares of Olin in a research note on Sunday, May 10th. Finally, JPMorgan Chase & Co. cut their price target on Olin from $26.00 to $25.00 and set a “neutral” rating on the stock in a research note on Thursday, June 18th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have issued a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $27.15.

Olin Stock Up 1.7%

OLN traded up $0.34 during trading on Tuesday, hitting $20.09. The stock had a trading volume of 561,032 shares, compared to its average volume of 2,934,813. The stock has a 50 day simple moving average of $24.80 and a two-hundred day simple moving average of $24.69. The company has a market capitalization of $2.29 billion, a PE ratio of -17.93 and a beta of 1.21. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.82 and a current ratio of 1.36. Olin Corporation has a twelve month low of $18.08 and a twelve month high of $30.46.

Olin Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Thursday, May 14th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend was Thursday, May 14th. Olin’s dividend payout ratio (DPR) is currently -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.