Jade Capital Advisors LLC Makes New $1.20 Million Investment in Olin Co. (NYSE:OLN)

Jade Capital Advisors LLC acquired a new stake in Olin Co. (NYSE:OLN) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 25,000 shares of the specialty chemicals company’s stock, valued at approximately $1,200,000.

A number of other institutional investors also recently modified their holdings of OLN. Goldman Sachs Group Inc. grew its stake in shares of Olin by 12.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 468,175 shares of the specialty chemicals company’s stock valued at $25,258,000 after purchasing an additional 50,167 shares during the last quarter. Visionary Horizons LLC lifted its holdings in Olin by 20.7% during the 1st quarter. Visionary Horizons LLC now owns 8,735 shares of the specialty chemicals company’s stock worth $476,000 after buying an additional 1,499 shares in the last quarter. Signet Financial Management LLC boosted its position in Olin by 2.0% in the 1st quarter. Signet Financial Management LLC now owns 33,357 shares of the specialty chemicals company’s stock valued at $1,961,000 after buying an additional 644 shares during the last quarter. Oak Thistle LLC acquired a new stake in shares of Olin in the 1st quarter valued at $547,000. Finally, Principal Financial Group Inc. increased its stake in shares of Olin by 0.6% in the 1st quarter. Principal Financial Group Inc. now owns 452,760 shares of the specialty chemicals company’s stock valued at $26,622,000 after buying an additional 2,816 shares during the period. 88.67% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on OLN. Deutsche Bank Aktiengesellschaft decreased their price target on Olin from $57.00 to $48.00 and set a “hold” rating on the stock in a report on Monday, July 29th. Piper Sandler lowered their price target on shares of Olin from $75.00 to $57.00 and set an “overweight” rating for the company in a research report on Tuesday, July 30th. Bank of America downgraded shares of Olin from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $62.00 to $51.00 in a research note on Monday, July 29th. UBS Group lowered their target price on shares of Olin from $59.00 to $51.00 and set a “neutral” rating for the company in a report on Tuesday, July 9th. Finally, Wells Fargo & Company cut their price target on Olin from $50.00 to $48.00 and set an “equal weight” rating on the stock in a research note on Monday, July 29th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Olin has a consensus rating of “Hold” and a consensus price target of $52.40.

Olin Stock Performance

OLN stock opened at $45.73 on Tuesday. Olin Co. has a 1-year low of $39.47 and a 1-year high of $60.60. The business’s 50-day moving average price is $44.57 and its two-hundred day moving average price is $48.46. The firm has a market cap of $5.46 billion, a PE ratio of 16.45, a P/E/G ratio of 1.03 and a beta of 1.41. The company has a current ratio of 1.43, a quick ratio of 0.82 and a debt-to-equity ratio of 1.29.

Olin (NYSE:OLN) last issued its quarterly earnings data on Thursday, July 25th. The specialty chemicals company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.08). Olin had a net margin of 4.26% and a return on equity of 11.73%. The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same quarter in the prior year, the firm posted $1.13 earnings per share. Olin’s revenue for the quarter was down 3.5% compared to the same quarter last year. As a group, research analysts forecast that Olin Co. will post 1.61 earnings per share for the current year.

Olin Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Thursday, August 8th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.75%. The ex-dividend date of this dividend was Thursday, August 8th. Olin’s dividend payout ratio is 28.78%.

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.