Quadrant Capital Group LLC Raises Stock Holdings in Olin Co. (NYSE:OLN)

Posted by on Feb 24th, 2023

Quadrant Capital Group LLC grew its stake in Olin Co. (NYSE:OLN – Get Rating) by 52.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 985 shares of the specialty chemicals company’s stock after buying an additional 338 shares during the quarter. Quadrant Capital Group LLC’s holdings in Olin were worth $42,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in shares of Olin by 3.2% in the first quarter. Vanguard Group Inc. now owns 15,867,281 shares of the specialty chemicals company’s stock worth $829,542,000 after acquiring an additional 493,052 shares during the period. FMR LLC boosted its stake in shares of Olin by 0.8% in the second quarter. FMR LLC now owns 7,346,926 shares of the specialty chemicals company’s stock worth $340,017,000 after acquiring an additional 58,801 shares during the period. State Street Corp boosted its stake in shares of Olin by 0.6% in the first quarter. State Street Corp now owns 5,581,714 shares of the specialty chemicals company’s stock worth $291,812,000 after acquiring an additional 31,587 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Olin by 0.4% in the third quarter. Dimensional Fund Advisors LP now owns 4,933,066 shares of the specialty chemicals company’s stock worth $211,525,000 after acquiring an additional 19,638 shares during the period. Finally, AQR Capital Management LLC boosted its stake in shares of Olin by 11.7% in the second quarter. AQR Capital Management LLC now owns 1,844,228 shares of the specialty chemicals company’s stock worth $84,041,000 after acquiring an additional 192,540 shares during the period. Hedge funds and other institutional investors own 85.77% of the company’s stock.

Olin Stock Performance

Shares of OLN opened at $60.20 on Friday. The stock has a 50-day moving average of $57.40 and a two-hundred day moving average of $54.37. Olin Co. has a one year low of $41.33 and a one year high of $67.25. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.78 and a current ratio of 1.38. The stock has a market cap of $8.24 billion, a P/E ratio of 6.79, a P/E/G ratio of 1.35 and a beta of 1.47.

Olin (NYSE:OLN – Get Rating) last issued its quarterly earnings results on Friday, January 27th. The specialty chemicals company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.01. The company had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $2.11 billion. Olin had a return on equity of 50.19% and a net margin of 14.15%. The firm’s revenue was down 18.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.41 EPS. As a group, research analysts predict that Olin Co. will post 5.53 EPS for the current year.

Insider Buying and Selling at Olin

In other Olin news, VP Damian Gumpel sold 13,000 shares of Olin stock in a transaction dated Thursday, February 16th. The stock was sold at an average price of $62.65, for a total transaction of $814,450.00. Following the completion of the transaction, the vice president now owns 17,155 shares in the company, valued at approximately $1,074,760.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Olin news, VP Damian Gumpel sold 13,000 shares of Olin stock in a transaction dated Thursday, February 16th. The stock was sold at an average price of $62.65, for a total transaction of $814,450.00. Following the completion of the transaction, the vice president now owns 17,155 shares in the company, valued at approximately $1,074,760.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Heidi S. Alderman sold 2,000 shares of Olin stock in a transaction dated Wednesday, February 1st. The shares were sold at an average price of $64.01, for a total value of $128,020.00. The disclosure for this sale can be found here. Company insiders own 9.00% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on OLN shares. KeyCorp upped their price objective on Olin from $56.00 to $58.00 and gave the stock an “overweight” rating in a research note on Friday, October 28th. Barclays increased their price target on Olin from $65.00 to $70.00 and gave the company an “overweight” rating in a research note on Monday, January 30th. UBS Group increased their price target on Olin from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, January 11th. Wells Fargo & Company increased their price target on Olin from $66.00 to $70.00 and gave the company an “overweight” rating in a research note on Monday, January 30th. Finally, Citigroup raised their price objective on Olin from $58.00 to $65.00 and gave the company a “neutral” rating in a research note on Friday, February 3rd. Two analysts have rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Olin currently has a consensus rating of “Moderate Buy” and a consensus price target of $64.00.

About Olin

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Olin Corp. engages in manufacturing of chemicals products. It operates through the following 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.

See Also

Institutional Ownership by Quarter for Olin (NYSE:OLN)

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