Qsemble Capital Management LP Takes $1.32 Million Position in Olin Co. (NYSE:OLN)

Qsemble Capital Management LP purchased a new stake in Olin Co. (NYSE:OLN) in the first quarter, Holdings Channel reports. The firm purchased 22,364 shares of the specialty chemicals company’s stock, valued at approximately $1,315,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of OLN. Sandy Spring Bank lifted its position in shares of Olin by 145.6% in the 4th quarter. Sandy Spring Bank now owns 614 shares of the specialty chemicals company’s stock worth $33,000 after purchasing an additional 364 shares during the period. Fifth Third Bancorp lifted its holdings in Olin by 30.0% during the first quarter. Fifth Third Bancorp now owns 858 shares of the specialty chemicals company’s stock worth $50,000 after buying an additional 198 shares during the period. Quarry LP bought a new stake in Olin during the 4th quarter valued at $50,000. ORG Partners LLC boosted its position in Olin by 1,100.0% during the 4th quarter. ORG Partners LLC now owns 960 shares of the specialty chemicals company’s stock valued at $52,000 after acquiring an additional 880 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new position in shares of Olin in the 1st quarter valued at $69,000. Institutional investors own 88.67% of the company’s stock.

Analyst Ratings Changes

OLN has been the topic of a number of recent research reports. Bank of America dropped their price objective on Olin from $74.00 to $72.00 and set a “buy” rating on the stock in a research report on Monday, April 29th. Wells Fargo & Company boosted their price objective on shares of Olin from $56.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 3rd. Barclays raised their target price on shares of Olin from $57.00 to $59.00 and gave the company an “equal weight” rating in a research note on Thursday, April 4th. Royal Bank of Canada cut their price target on shares of Olin from $69.00 to $63.00 and set an “outperform” rating on the stock in a report on Monday, April 29th. Finally, UBS Group decreased their price objective on Olin from $59.00 to $51.00 and set a “neutral” rating for the company in a report on Tuesday, July 9th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $59.27.

Olin Stock Performance

NYSE:OLN traded up $1.80 during midday trading on Tuesday, hitting $50.21. The company’s stock had a trading volume of 1,068,523 shares, compared to its average volume of 1,048,125. Olin Co. has a fifty-two week low of $41.71 and a fifty-two week high of $60.60. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.38 and a quick ratio of 0.80. The firm has a market cap of $6.00 billion, a P/E ratio of 17.73, a P/E/G ratio of 0.31 and a beta of 1.44. The firm’s 50 day moving average is $51.19 and its 200-day moving average is $53.07.

Olin (NYSE:OLN) last released its quarterly earnings data on Friday, April 26th. The specialty chemicals company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.02. Olin had a net margin of 5.32% and a return on equity of 14.47%. The firm had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the prior year, the business earned $1.16 earnings per share. The business’s quarterly revenue was down 11.3% compared to the same quarter last year. Equities analysts anticipate that Olin Co. will post 3.49 earnings per share for the current fiscal year.

Olin Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Thursday, May 9th were paid a $0.20 dividend. The ex-dividend date of this dividend was Wednesday, May 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.59%. Olin’s payout ratio is 28.78%.

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.