XTX Topco Ltd Takes $962,000 Position in Olin Co. (NYSE:OLN)

XTX Topco Ltd acquired a new stake in Olin Co. (NYSE:OLN) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 20,400 shares of the specialty chemicals company’s stock, valued at approximately $962,000.

Several other hedge funds and other institutional investors have also made changes to their positions in OLN. LRI Investments LLC acquired a new stake in shares of Olin during the 1st quarter worth about $28,000. EverSource Wealth Advisors LLC raised its position in shares of Olin by 4,375.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 537 shares of the specialty chemicals company’s stock worth $32,000 after acquiring an additional 525 shares in the last quarter. nVerses Capital LLC acquired a new stake in shares of Olin during the 2nd quarter worth about $33,000. Quarry LP acquired a new stake in shares of Olin during the 4th quarter worth about $50,000. Finally, Headlands Technologies LLC acquired a new stake in shares of Olin during the 1st quarter worth about $69,000. Hedge funds and other institutional investors own 88.67% of the company’s stock.

Olin Trading Down 1.8 %

Shares of OLN stock opened at $44.10 on Friday. The business’s 50 day moving average is $43.84 and its two-hundred day moving average is $50.08. Olin Co. has a twelve month low of $39.47 and a twelve month high of $60.60. The company has a market capitalization of $5.18 billion, a P/E ratio of 15.86, a price-to-earnings-growth ratio of 0.94 and a beta of 1.41. The company has a current ratio of 1.43, a quick ratio of 0.82 and a debt-to-equity ratio of 1.29.

Olin (NYSE:OLN) last posted its quarterly earnings results on Thursday, July 25th. The specialty chemicals company reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.08). Olin had a net margin of 4.26% and a return on equity of 11.73%. The business had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter last year, the firm earned $1.13 earnings per share. The firm’s quarterly revenue was down 3.5% compared to the same quarter last year. Equities analysts forecast that Olin Co. will post 1.61 EPS for the current year.

Olin Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Thursday, August 8th were paid a $0.20 dividend. The ex-dividend date was Thursday, August 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.81%. Olin’s dividend payout ratio (DPR) is presently 28.78%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on OLN shares. Barclays cut their target price on Olin from $59.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Monday, July 29th. JPMorgan Chase & Co. raised Olin from a “neutral” rating to an “overweight” rating and set a $55.00 target price on the stock in a research report on Monday, July 29th. Piper Sandler cut their price target on Olin from $75.00 to $57.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 30th. Royal Bank of Canada cut their price target on Olin from $61.00 to $52.00 and set an “outperform” rating on the stock in a research report on Monday, July 29th. Finally, UBS Group cut their price target on Olin from $59.00 to $51.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Olin has an average rating of “Hold” and a consensus target price of $52.73.

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.