KLCM Advisors Inc. Boosts Stake in Olin Corporation $OLN

KLCM Advisors Inc. grew its stake in Olin Corporation (NYSE:OLN) by 4,992.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 467,161 shares of the specialty chemicals company’s stock after buying an additional 457,987 shares during the period. KLCM Advisors Inc. owned 0.41% of Olin worth $9,731,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Choreo LLC purchased a new position in shares of Olin during the third quarter worth $726,000. Thrivent Financial for Lutherans raised its holdings in shares of 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 purchasing an additional 105,484 shares during the last quarter. Invenomic Capital Management LP purchased a new position in shares of Olin during the third quarter worth $5,761,000. SG Americas Securities LLC raised its holdings in shares of Olin by 142.0% during the fourth quarter. SG Americas Securities LLC now owns 455,757 shares of the specialty chemicals company’s stock worth $9,493,000 after purchasing an additional 267,458 shares during the last quarter. Finally, Harbor Capital Advisors Inc. raised its holdings in shares of Olin by 39.4% during the fourth quarter. Harbor Capital Advisors Inc. now owns 132,013 shares of the specialty chemicals company’s stock worth $2,750,000 after purchasing an additional 37,289 shares during the last quarter. Hedge funds and other institutional investors own 88.67% of the company’s stock.

Insiders Place Their Bets

In other Olin news, VP Angela M. Castle sold 2,379 shares of Olin stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $24.25, for a total value of $57,690.75. Following the completion of the transaction, the vice president owned 1,528 shares of the company’s stock, valued at approximately $37,054. The trade was a 60.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.60% of the company’s stock.

Olin Stock Up 6.0%

OLN opened at $28.46 on Tuesday. Olin Corporation has a fifty-two week low of $18.08 and a fifty-two week high of $30.46. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.82 and a current ratio of 1.36. The company has a fifty day moving average of $26.93 and a two-hundred day moving average of $23.74. The stock has a market capitalization of $3.24 billion, a price-to-earnings ratio of -25.41 and a beta of 1.21.

Olin Dividend Announcement

The company 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. The ex-dividend date of this dividend is Thursday, May 14th. This represents a $0.80 dividend on an annualized basis and a yield of 2.8%. Olin’s payout ratio is presently -71.43%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on OLN. Truist Financial raised their target price on shares of Olin from $20.00 to $26.00 and gave the stock a “hold” rating in a report on Monday. KeyCorp reduced their target price on shares of Olin from $29.00 to $26.00 and set an “overweight” rating for the company in a report on Monday, February 2nd. Mizuho raised their target price on shares of Olin from $24.00 to $26.00 and gave the stock a “neutral” rating in a report on Tuesday, March 31st. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $26.00 target price on shares of Olin in a report on Tuesday, February 10th. Finally, Morgan Stanley raised their target price on shares of Olin from $18.00 to $22.00 and gave the stock an “underweight” rating in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Olin presently has an average rating of “Hold” and an average price target of $27.50.

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.