166,701 Shares in Olin Corporation $OLN Acquired by Hudson Bay Capital Management LP

Hudson Bay Capital Management LP acquired a new stake in Olin Corporation (NYSE:OLN) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 166,701 shares of the specialty chemicals company’s stock, valued at approximately $4,166,000.

Several other large investors have also recently added to or reduced their stakes in OLN. Choreo LLC bought a new stake in shares of Olin in the third quarter valued at about $726,000. Thrivent Financial for Lutherans increased its position in Olin by 6.9% during the third quarter. Thrivent Financial for Lutherans now owns 1,639,624 shares of the specialty chemicals company’s stock worth $40,974,000 after acquiring an additional 105,484 shares during the period. V. M. Manning & CO. Inc. acquired a new stake in Olin in the 2nd quarter worth about $989,000. Prudential Financial Inc. raised its stake in Olin by 5,469.7% in the 2nd quarter. Prudential Financial Inc. now owns 588,323 shares of the specialty chemicals company’s stock worth $11,819,000 after purchasing an additional 577,760 shares in the last quarter. Finally, Invenomic Capital Management LP bought a new stake in Olin in the 3rd quarter valued at about $5,761,000. Institutional investors own 88.67% of the company’s stock.

Insider Activity

In related news, VP Angela M. Castle sold 2,379 shares of the firm’s 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 sale, the vice president directly owned 1,528 shares of the company’s stock, valued at $37,054. This trade represents a 60.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Todd A. Slater sold 92,250 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief financial officer directly owned 44,291 shares in the company, valued at $995,661.68. This trade represents a 67.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 99,379 shares of company stock worth $2,238,298. Insiders own 1.60% of the company’s stock.

Olin Price Performance

Shares of NYSE:OLN opened at $23.71 on Friday. The firm has a 50 day moving average of $24.19 and a 200-day moving average of $22.93. Olin Corporation has a 12 month low of $17.66 and a 12 month high of $27.35. The company has a current ratio of 1.21, a quick ratio of 0.73 and a debt-to-equity ratio of 1.45. The stock has a market capitalization of $2.69 billion, a PE ratio of -62.40 and a beta of 1.56.

Olin (NYSE:OLN) last posted its quarterly earnings results on Thursday, January 29th. The specialty chemicals company reported ($0.58) earnings per share (EPS) for the quarter, hitting 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 business had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same quarter last year, the business posted $0.09 EPS. The firm’s revenue for the quarter was down .4% on a year-over-year basis. On average, equities research analysts predict that Olin Corporation will post 1.38 EPS for the current fiscal year.

Olin Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Tuesday, March 3rd were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend was Tuesday, March 3rd. Olin’s dividend payout ratio (DPR) is currently -210.53%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Royal Bank Of Canada decreased their target price on shares of Olin from $24.00 to $21.00 and set a “sector perform” rating on the stock in a research report on Monday, February 2nd. Morgan Stanley cut their price target on Olin from $20.00 to $18.00 and set an “underweight” rating for the company in a research note on Monday, February 2nd. UBS Group set a $21.00 price target on Olin in a research report on Monday, February 2nd. KeyCorp lowered their price objective on Olin from $29.00 to $26.00 and set an “overweight” rating on the stock in a research note on Monday, February 2nd. Finally, Zacks Research cut Olin from a “hold” rating to a “strong sell” rating in a report on Thursday, January 29th. One equities 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 given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $23.73.

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.