Tower Research Capital LLC TRC Buys 9,253 Shares of Olin Co. (NYSE:OLN)

Posted by Defense World Staff on Aug 19th, 2023

Tower Research Capital LLC TRC raised its stake in Olin Co. (NYSE:OLN – Free Report) by 287.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,471 shares of the specialty chemicals company’s stock after purchasing an additional 9,253 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Olin were worth $692,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Schechter Investment Advisors LLC boosted its stake in shares of Olin by 29.2% during the 4th quarter. Schechter Investment Advisors LLC now owns 6,744 shares of the specialty chemicals company’s stock worth $357,000 after acquiring an additional 1,524 shares during the period. American Century Companies Inc. boosted its stake in shares of Olin by 26.4% during the 4th quarter. American Century Companies Inc. now owns 714,435 shares of the specialty chemicals company’s stock worth $37,822,000 after acquiring an additional 149,030 shares during the period. AXS Investments LLC bought a new position in shares of Olin during the 4th quarter worth approximately $60,000. AE Wealth Management LLC bought a new position in shares of Olin during the 1st quarter worth approximately $326,000. Finally, UBS Group AG boosted its stake in shares of Olin by 53,285.8% during the 4th quarter. UBS Group AG now owns 1,444,087 shares of the specialty chemicals company’s stock worth $76,450,000 after acquiring an additional 1,441,382 shares during the period. 84.77% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, VP Damian Gumpel sold 800 shares of the company’s stock in a transaction on Friday, August 18th. The stock was sold at an average price of $55.39, for a total transaction of $44,312.00. Following the completion of the sale, the vice president now directly owns 27,651 shares in the company, valued at approximately $1,531,588.89. The sale was disclosed in a filing with the SEC, which is available through this link. In other Olin news, VP Valerie A. Peters sold 4,124 shares of the company’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $58.22, for a total value of $240,099.28. Following the completion of the transaction, the vice president now owns 19,470 shares of the company’s stock, valued at approximately $1,133,543.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Damian Gumpel sold 800 shares of the company’s stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $55.39, for a total value of $44,312.00. Following the completion of the transaction, the vice president now directly owns 27,651 shares of the company’s stock, valued at approximately $1,531,588.89. The disclosure for this sale can be found here. Insiders sold a total of 24,174 shares of company stock worth $1,414,639 in the last ninety days. 1.60% of the stock is owned by insiders.

Olin Stock Performance

NYSE:OLN opened at $56.53 on Friday. The stock has a fifty day moving average price of $54.06 and a 200-day moving average price of $55.21. The company has a market cap of $7.11 billion, a price-to-earnings ratio of 9.58, a PEG ratio of 1.87 and a beta of 1.45. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.80 and a current ratio of 1.58. Olin Co. has a fifty-two week low of $41.33 and a fifty-two week high of $64.70.

Olin (NYSE:OLN – Get Free Report) last released its earnings results on Friday, July 28th. The specialty chemicals company reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.09. The firm had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.86 billion. Olin had a return on equity of 32.28% and a net margin of 10.39%. The company’s revenue was down 34.9% compared to the same quarter last year. During the same period in the prior year, the company posted $2.76 EPS. As a group, equities analysts anticipate that Olin Co. will post 4.16 EPS for the current fiscal year.

Olin Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Thursday, August 10th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $0.80 annualized dividend and a dividend yield of 1.42%. Olin’s dividend payout ratio is currently 13.56%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on OLN shares. Wells Fargo & Company lifted their target price on Olin from $60.00 to $65.00 and gave the stock an “overweight” rating in a research note on Monday, July 31st. Stifel Nicolaus reduced their price target on Olin from $85.00 to $82.00 and set a “buy” rating for the company in a research note on Monday, July 31st. UBS Group downgraded Olin from a “buy” rating to a “neutral” rating and reduced their price target for the company from $68.00 to $53.00 in a research note on Tuesday, June 27th. Piper Sandler reduced their price target on Olin from $83.00 to $80.00 in a research note on Tuesday, May 2nd. Finally, Morgan Stanley restated an “underweight” rating and issued a $50.00 price target on shares of Olin in a research note on Tuesday, August 1st. Two research analysts have rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Olin has an average rating of “Hold” and an average price target of $64.50.

Read Our Latest Stock Report on OLN

About Olin

(Free Report)

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.