ARS Investment Partners LLC Has $201,000 Holdings in Olin Corporation $OLN

ARS Investment Partners LLC cut its holdings in Olin Corporation (NYSE:OLN) by 94.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,641 shares of the specialty chemicals company’s stock after selling 163,604 shares during the period. ARS Investment Partners LLC’s holdings in Olin were worth $201,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in OLN. Choreo LLC purchased a new position in Olin in the 3rd quarter valued at approximately $726,000. Thrivent Financial for Lutherans boosted 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 acquired a new stake in shares of Olin during the third quarter worth $5,761,000. SG Americas Securities LLC boosted 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. boosted 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. 88.67% of the stock is owned by institutional investors.

Insider Activity

In other news, VP Angela M. Castle sold 2,379 shares of the business’s stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $24.25, for a total transaction of $57,690.75. Following the completion of the transaction, the vice president directly owned 1,528 shares in the company, valued at approximately $37,054. The trade was a 60.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

OLN has been the topic of a number of research analyst reports. The Goldman Sachs Group lifted their target price on Olin from $22.00 to $31.00 and gave the company a “neutral” rating in a report on Tuesday, May 12th. KeyCorp cut their price objective on Olin from $29.00 to $26.00 and set an “overweight” rating on the stock in a research report on Monday, February 2nd. Truist Financial lifted their target price on Olin from $20.00 to $26.00 and gave the stock a “hold” rating in a research report on Monday, May 11th. BMO Capital Markets dropped their target price on Olin from $25.00 to $24.00 and set a “market perform” rating on the stock in a research report on Tuesday, February 3rd. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Olin in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $27.79.

Olin Stock Performance

Shares of OLN stock opened at $26.78 on Monday. The company has a quick ratio of 0.82, a current ratio of 1.36 and a debt-to-equity ratio of 1.73. The business has a 50 day moving average of $27.15 and a two-hundred day moving average of $23.85. Olin Corporation has a 52 week low of $18.08 and a 52 week high of $30.46. The company has a market cap of $3.05 billion, a P/E ratio of -23.91 and a beta of 1.21.

Olin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Thursday, May 14th will be given a dividend of $0.20 per share. The ex-dividend date is Thursday, May 14th. This represents a $0.80 annualized dividend and a dividend yield of 3.0%. 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.