Impala Asset Management LLC Has $3.48 Million Position in Olin Corporation $OLN

Impala Asset Management LLC increased its stake in shares of Olin Corporation (NYSE:OLN) by 39.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 167,000 shares of the specialty chemicals company’s stock after buying an additional 47,000 shares during the quarter. Olin accounts for about 2.2% of Impala Asset Management LLC’s investment portfolio, making the stock its 11th largest holding. Impala Asset Management LLC’s holdings in Olin were worth $3,479,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Strategic Advocates LLC acquired a new stake in Olin during the third quarter worth approximately $25,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Olin during the first quarter worth approximately $32,000. Bessemer Group Inc. grew its position in Olin by 712.7% during the third quarter. Bessemer Group Inc. now owns 1,341 shares of the specialty chemicals company’s stock worth $34,000 after buying an additional 1,176 shares in the last quarter. Allworth Financial LP grew its position in Olin by 114.0% during the third quarter. Allworth Financial LP now owns 1,740 shares of the specialty chemicals company’s stock worth $43,000 after buying an additional 927 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its stake in Olin by 45.0% during the third 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 last quarter. Institutional investors and hedge funds own 88.67% of the company’s stock.

Wall Street Analysts Forecast Growth

OLN has been the subject of several recent analyst reports. Zacks Research upgraded Olin from a “strong sell” rating to a “hold” rating in a research note on Monday, April 13th. Citigroup upped their target price on Olin from $26.00 to $30.00 and gave the stock a “neutral” rating in a research note on Thursday, April 16th. Weiss Ratings restated a “sell (d)” rating on shares of Olin in a research note on Friday, May 22nd. Truist Financial upped their target price on Olin from $20.00 to $26.00 and gave the stock a “hold” rating in a research note on Monday, May 11th. Finally, Wells Fargo & Company restated an “overweight” rating and set a $37.00 target price on shares of Olin in a research note on Sunday, May 10th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Olin presently has a consensus rating of “Hold” and an average price target of $28.08.

Olin Stock Up 3.7%

NYSE OLN opened at $25.10 on Friday. The business has a fifty day moving average price of $26.93 and a two-hundred day moving average price of $24.62. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.36 and a quick ratio of 0.82. Olin Corporation has a fifty-two week low of $18.08 and a fifty-two week high of $30.46. The stock has a market capitalization of $2.86 billion, a PE ratio of -22.41 and a beta of 1.17.

Olin Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Thursday, May 14th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Thursday, May 14th. Olin’s dividend payout ratio is presently -71.43%.

Olin Company 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.