CenterBook Partners LP Has $10.17 Million Stake in Olin Corporation $OLN

CenterBook Partners LP increased its position in shares of Olin Corporation (NYSE:OLN) by 348.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 488,330 shares of the specialty chemicals company’s stock after buying an additional 379,337 shares during the period. CenterBook Partners LP owned 0.43% of Olin worth $10,172,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Hotchkis & Wiley Capital Management LLC increased its holdings in Olin by 5.5% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 12,690,488 shares of the specialty chemicals company’s stock worth $317,135,000 after buying an additional 661,730 shares during the last quarter. State Street Corp increased its holdings in Olin by 1.1% during the second quarter. State Street Corp now owns 4,830,406 shares of the specialty chemicals company’s stock worth $97,043,000 after buying an additional 50,309 shares during the last quarter. Pzena Investment Management LLC increased its holdings in Olin by 17.5% during the fourth quarter. Pzena Investment Management LLC now owns 4,507,913 shares of the specialty chemicals company’s stock worth $93,900,000 after buying an additional 671,250 shares during the last quarter. Millennium Management LLC increased its holdings in Olin by 1,063.0% during the third quarter. Millennium Management LLC now owns 2,486,702 shares of the specialty chemicals company’s stock worth $62,143,000 after buying an additional 2,272,877 shares during the last quarter. Finally, Semper Augustus Investments Group LLC increased its holdings in Olin by 141.3% during the third quarter. Semper Augustus Investments Group LLC now owns 1,924,245 shares of the specialty chemicals company’s stock worth $48,087,000 after buying an additional 1,126,809 shares during the last quarter. 88.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

OLN has been the topic of a number of recent analyst reports. The Goldman Sachs Group boosted their target price on shares of Olin from $22.00 to $31.00 and gave the stock a “neutral” rating in a report on Tuesday, May 12th. Citigroup boosted their target price on shares of Olin from $26.00 to $30.00 and gave the stock a “neutral” rating in a report on Thursday, April 16th. Zacks Research upgraded shares of Olin from a “strong sell” rating to a “hold” rating in a report on Monday, April 13th. Morgan Stanley upped their price objective on shares of Olin from $18.00 to $22.00 and gave the company an “underweight” rating in a report on Monday, May 11th. Finally, UBS Group upped their price objective on shares of Olin from $29.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $28.08.

Olin Price Performance

NYSE:OLN opened at $24.50 on Monday. Olin Corporation has a one year low of $18.08 and a one year high of $30.46. The company has a market cap of $2.79 billion, a P/E ratio of -21.87 and a beta of 1.17. The firm’s fifty day moving average price is $27.40 and its two-hundred day moving average price is $24.47. 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Thursday, May 14th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Thursday, May 14th. Olin’s payout ratio is currently -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.