Hsbc Holdings PLC Buys 70,790 Shares of Olin Corporation $OLN

Hsbc Holdings PLC boosted its stake in shares of Olin Corporation (NYSE:OLN) by 755.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 80,166 shares of the specialty chemicals company’s stock after buying an additional 70,790 shares during the quarter. Hsbc Holdings PLC’s holdings in Olin were worth $1,690,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Covestor Ltd increased its position in Olin by 10.6% during the fourth quarter. Covestor Ltd now owns 5,189 shares of the specialty chemicals company’s stock valued at $108,000 after acquiring an additional 497 shares during the last quarter. Madison Asset Management LLC lifted its stake in Olin by 0.6% in the fourth quarter. Madison Asset Management LLC now owns 97,616 shares of the specialty chemicals company’s stock worth $2,033,000 after purchasing an additional 555 shares during the last quarter. FORA Capital LLC boosted its position in shares of Olin by 2.6% during the second quarter. FORA Capital LLC now owns 24,453 shares of the specialty chemicals company’s stock valued at $491,000 after buying an additional 625 shares during the period. UMB Bank n.a. boosted its position in shares of Olin by 34.0% during the fourth quarter. UMB Bank n.a. now owns 2,597 shares of the specialty chemicals company’s stock valued at $54,000 after buying an additional 659 shares during the period. Finally, Envestnet Portfolio Solutions Inc. grew its stake in shares of Olin by 2.5% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 29,361 shares of the specialty chemicals company’s stock valued at $612,000 after buying an additional 709 shares during the last quarter. 88.67% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. The Goldman Sachs Group increased their price target on Olin from $22.00 to $31.00 and gave the stock a “neutral” rating in a report on Tuesday, May 12th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Olin in a research report on Friday, May 22nd. Wells Fargo & Company reiterated an “overweight” rating and issued a $37.00 target price on shares of Olin in a research note on Sunday, May 10th. Bank of America lowered shares of Olin from a “buy” rating to an “underperform” rating and lowered their target price for the company from $32.00 to $21.00 in a research note on Tuesday. Finally, JPMorgan Chase & Co. cut their price target on shares of Olin from $26.00 to $25.00 and set a “neutral” rating on the stock in a report on Thursday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, nine have assigned a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $27.31.

Olin Trading Down 4.5%

OLN opened at $19.89 on Wednesday. The stock’s fifty day moving average is $25.36 and its two-hundred day moving average is $24.74. The company has a market capitalization of $2.27 billion, a P/E ratio of -17.76 and a beta of 1.17. Olin Corporation has a 52 week low of $18.08 and a 52 week high of $30.46. The company has a quick ratio of 0.82, a current ratio of 1.36 and a debt-to-equity ratio of 1.73.

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 dividend of $0.20 per share. The ex-dividend date was Thursday, May 14th. This represents a $0.80 annualized dividend and a dividend yield of 4.0%. Olin’s dividend payout ratio (DPR) is currently -71.43%.

About Olin

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.