Tidal Investments LLC Purchases 27,704 Shares of Olin Co. (NYSE:OLN)

Tidal Investments LLC raised its stake in Olin Co. (NYSE:OLN) by 510.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 33,132 shares of the specialty chemicals company’s stock after acquiring an additional 27,704 shares during the period. Tidal Investments LLC’s holdings in Olin were worth $1,948,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. B. Riley Wealth Advisors Inc. increased its holdings in Olin by 31.8% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 42,880 shares of the specialty chemicals company’s stock valued at $2,521,000 after acquiring an additional 10,335 shares during the last quarter. Dynasty Wealth Management LLC purchased a new position in shares of Olin in the 1st quarter worth $326,000. Bayesian Capital Management LP grew its stake in shares of Olin by 57.1% in the 1st quarter. Bayesian Capital Management LP now owns 20,900 shares of the specialty chemicals company’s stock worth $1,229,000 after buying an additional 7,600 shares in the last quarter. Hyperion Capital Advisors LP purchased a new position in shares of Olin in the 1st quarter worth $260,000. Finally, LRI Investments LLC purchased a new position in shares of Olin in the 1st quarter worth $28,000. 88.67% of the stock is currently owned by institutional investors.

Olin Trading Down 3.4 %

NYSE:OLN traded down $1.52 during trading hours on Friday, hitting $42.92. The company had a trading volume of 195,583 shares, compared to its average volume of 1,101,635. The company has a current ratio of 1.43, a quick ratio of 0.82 and a debt-to-equity ratio of 1.29. The company has a 50-day moving average of $48.86 and a 200 day moving average of $52.52. The company has a market cap of $5.04 billion, a P/E ratio of 15.99, a P/E/G ratio of 0.85 and a beta of 1.44. Olin Co. has a 1 year low of $41.71 and a 1 year high of $60.60.

Olin (NYSE:OLN) last issued its earnings results 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 company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the previous year, the company earned $1.13 earnings per share. The firm’s quarterly revenue was down 3.5% compared to the same quarter last year. Sell-side analysts expect that Olin Co. will post 1.87 earnings per share for the current year.

Olin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Thursday, August 8th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.86%. The ex-dividend date of this dividend is Thursday, August 8th. Olin’s payout ratio is 28.78%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on OLN. UBS Group dropped their price objective on shares of Olin from $59.00 to $51.00 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Olin from $57.00 to $48.00 and set a “hold” rating for the company in a research note on Monday. JPMorgan Chase & Co. raised shares of Olin from a “neutral” rating to an “overweight” rating and set a $55.00 price target for the company in a research note on Monday. Bank of America cut 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. Finally, Stifel Nicolaus boosted their price objective on shares of Olin from $68.00 to $69.00 and gave the company a “buy” rating in a research report on Monday, April 29th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $53.86.

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.