Robotti Robert Reduces Stock Position in Olin Corporation $OLN

Robotti Robert lowered its holdings in Olin Corporation (NYSE:OLN) by 68.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 35,718 shares of the specialty chemicals company’s stock after selling 77,674 shares during the quarter. Robotti Robert’s holdings in Olin were worth $893,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Olin in the first quarter worth about $32,000. Bessemer Group Inc. raised its stake in Olin by 712.7% in the 3rd quarter. Bessemer Group Inc. now owns 1,341 shares of the specialty chemicals company’s stock valued at $34,000 after purchasing an additional 1,176 shares during the last quarter. Evelyn Partners Investment Management LLP raised its position in shares of Olin by 6,360.0% in the second quarter. Evelyn Partners Investment Management LLP now owns 1,615 shares of the specialty chemicals company’s stock valued at $32,000 after buying an additional 1,590 shares during the last quarter. SJS Investment Consulting Inc. purchased a new position in Olin in the 3rd quarter worth approximately $49,000. Finally, HHM Wealth Advisors LLC boosted its stake in Olin by 30.5% during the second quarter. HHM Wealth Advisors LLC now owns 4,126 shares of the specialty chemicals company’s stock worth $83,000 after buying an additional 965 shares during the last quarter. 88.67% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on OLN. Wall Street Zen cut Olin from a “hold” rating to a “sell” rating in a research note on Saturday, January 10th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $26.00 price target on shares of Olin in a research report on Tuesday, February 10th. Zacks Research lowered shares of Olin from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 29th. Citigroup cut their price target on Olin from $24.00 to $21.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 3rd. Finally, Truist Financial lowered their target price on shares of Olin from $23.00 to $20.00 and set a “hold” rating for the company in a report on Monday, February 2nd. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $23.20.

Insider Buying and Selling

In related news, VP Angela M. Castle sold 2,379 shares of the stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $24.25, for a total value of $57,690.75. Following the completion of the transaction, the vice president owned 1,528 shares of the company’s stock, valued at approximately $37,054. This represents a 60.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Todd A. Slater sold 92,250 shares of the company’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $22.48, for a total value of $2,073,780.00. Following the sale, the chief financial officer owned 44,291 shares in the company, valued at $995,661.68. The trade was a 67.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 99,379 shares of company stock valued at $2,238,298 in the last quarter. Company insiders own 1.60% of the company’s stock.

Olin Stock Down 1.1%

Olin stock opened at $24.02 on Thursday. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.81 and a current ratio of 1.21. The stock’s fifty day moving average is $23.03 and its two-hundred day moving average is $22.61. Olin Corporation has a fifty-two week low of $17.66 and a fifty-two week high of $27.35. The firm has a market capitalization of $2.73 billion, a price-to-earnings ratio of -63.22 and a beta of 1.64.

Olin (NYSE:OLN) last announced its earnings results on Thursday, January 29th. The specialty chemicals company reported ($0.58) earnings per share for the quarter, meeting the consensus estimate of ($0.58). Olin had a negative net margin of 0.63% and a negative return on equity of 0.48%. The firm had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter in the previous year, the company posted $0.09 EPS. The firm’s revenue for the quarter was down .4% on a year-over-year basis. Analysts predict that Olin Corporation will post 1.38 EPS for the current fiscal year.

Olin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Tuesday, March 3rd will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Tuesday, March 3rd. Olin’s dividend payout ratio (DPR) is presently -210.53%.

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.