Olin Corporation (OLN) Shares Bought by Caxton Associates LP
Caxton Associates LP lifted its stake in shares of Olin Corporation (NYSE:OLN) by 211.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 530,000 shares of the specialty chemicals company’s stock after purchasing an additional 360,000 shares during the period. Olin Corporation comprises about 0.1% of Caxton Associates LP’s investment portfolio, making the stock its 15th biggest holding. Caxton Associates LP owned about 0.32% of Olin Corporation worth $16,048,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of OLN. Russell Investments Group Ltd. bought a new position in shares of Olin Corporation during the first quarter worth about $1,398,000. UBS Asset Management Americas Inc. lifted its position in shares of Olin Corporation by 41.0% during the first quarter. UBS Asset Management Americas Inc. now owns 137,846 shares of the specialty chemicals company’s stock worth $4,531,000 after purchasing an additional 40,086 shares during the last quarter. Karp Capital Management Corp bought a new position in shares of Olin Corporation during the first quarter worth about $722,000. Parametric Portfolio Associates LLC lifted its position in shares of Olin Corporation by 15.4% during the first quarter. Parametric Portfolio Associates LLC now owns 128,056 shares of the specialty chemicals company’s stock worth $4,209,000 after purchasing an additional 17,131 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its position in shares of Olin Corporation by 5.3% during the first quarter. Alliancebernstein L.P. now owns 337,850 shares of the specialty chemicals company’s stock worth $11,105,000 after purchasing an additional 16,889 shares during the last quarter. 92.62% of the stock is currently owned by institutional investors and hedge funds.
In related news, VP Stephen C. Curley sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $30.34, for a total transaction of $151,700.00. Following the completion of the sale, the vice president now directly owns 23,837 shares of the company’s stock, valued at $723,214.58. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP John L. Mcintosh sold 24,000 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $31.54, for a total transaction of $756,960.00. Following the sale, the executive vice president now directly owns 84,391 shares of the company’s stock, valued at $2,661,692.14. The disclosure for this sale can be found here. Insiders have sold 45,070 shares of company stock worth $1,407,151 over the last quarter. 2.90% of the stock is owned by company insiders.
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Shares of Olin Corporation (NYSE:OLN) traded down 0.19% during trading on Friday, reaching $36.61. 1,499,103 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $32.62 and a 200-day moving average price of $31.21. The company has a market capitalization of $6.09 billion, a PE ratio of 142.45 and a beta of 1.42. Olin Corporation has a 52-week low of $19.62 and a 52-week high of $36.84.
Olin Corporation (NYSE:OLN) last announced its earnings results on Monday, July 31st. The specialty chemicals company reported $0.01 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.15). Olin Corporation had a return on equity of 5.80% and a net margin of 0.72%. The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same quarter in the previous year, the company posted $0.24 earnings per share. Olin Corporation’s revenue for the quarter was up 11.9% on a year-over-year basis. On average, equities analysts forecast that Olin Corporation will post $1.07 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, September 11th. Stockholders of record on Thursday, August 10th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, August 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.19%. Olin Corporation’s payout ratio is 320.00%.
Several equities analysts have recently commented on the stock. Zacks Investment Research cut shares of Olin Corporation from a “hold” rating to a “strong sell” rating in a research report on Wednesday. SunTrust Banks, Inc. reaffirmed a “buy” rating and set a $44.00 price target (up previously from $36.00) on shares of Olin Corporation in a research report on Monday, October 2nd. Citigroup Inc. assumed coverage on shares of Olin Corporation in a research report on Wednesday, September 27th. They set a “buy” rating and a $39.00 price target on the stock. BidaskClub raised shares of Olin Corporation from a “hold” rating to a “buy” rating in a research report on Sunday, July 16th. Finally, Cowen and Company set a $39.00 price target on shares of Olin Corporation and gave the stock a “buy” rating in a research report on Friday, July 28th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company’s stock. Olin Corporation currently has an average rating of “Hold” and a consensus target price of $36.50.
Olin Corporation Profile
Olin Corporation is a manufacturer and distributor of chemical products, and ammunition. The Company operates through three segments: Chlor Alkali Products and Vinyls, Epoxy and Winchester. The Chlor Alkali Products and Vinyls segment manufactures and sells chlorine and caustic soda, ethylene dichloride and vinyl chloride monomer, methyl chloride, methylene chloride, chloroform, carbon tetrachloride, perchloroethylene, trichloroethylene and vinylidene chloride, hydrochloric acid, hydrogen, bleach products and potassium hydroxide.
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