Olin Co. (NYSE:OLN) Shares Acquired by Highland Capital Management LLC

Highland Capital Management LLC grew its holdings in Olin Co. (NYSE:OLN) by 22.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 97,739 shares of the specialty chemicals company’s stock after buying an additional 18,110 shares during the period. Highland Capital Management LLC’s holdings in Olin were worth $4,690,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. International Assets Investment Management LLC raised its position in shares of Olin by 4,698.0% in the third quarter. International Assets Investment Management LLC now owns 9,596 shares of the specialty chemicals company’s stock valued at $460,000 after buying an additional 9,396 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new stake in shares of Olin in the third quarter valued at about $318,000. Jade Capital Advisors LLC acquired a new stake in shares of Olin in the third quarter valued at about $1,200,000. Allspring Global Investments Holdings LLC raised its position in shares of Olin by 2.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,061,001 shares of the specialty chemicals company’s stock valued at $50,907,000 after buying an additional 25,163 shares during the last quarter. Finally, Raymond James & Associates grew its holdings in shares of Olin by 10.7% in the third quarter. Raymond James & Associates now owns 192,826 shares of the specialty chemicals company’s stock valued at $9,252,000 after purchasing an additional 18,606 shares during the period. 88.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. raised shares of Olin from a “neutral” rating to an “overweight” rating and set a $55.00 price objective for the company in a report on Monday, July 29th. Royal Bank of Canada dropped their price objective on shares of Olin from $61.00 to $52.00 and set an “outperform” rating for the company in a report on Monday, July 29th. The Goldman Sachs Group dropped their price objective on shares of Olin from $55.00 to $49.00 and set a “neutral” rating for the company in a report on Monday, July 29th. Barclays dropped their price objective on shares of Olin from $59.00 to $49.00 and set an “equal weight” rating for the company in a report on Monday, July 29th. Finally, Piper Sandler dropped their price objective on shares of Olin from $75.00 to $57.00 and set an “overweight” rating for the company in a report on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $52.40.

Olin Trading Down 8.1 %

NYSE OLN opened at $41.41 on Friday. The firm has a 50 day simple moving average of $44.78 and a 200-day simple moving average of $48.21. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.82 and a current ratio of 1.43. Olin Co. has a one year low of $39.47 and a one year high of $60.60. The firm has a market cap of $4.95 billion, a price-to-earnings ratio of 14.90, a PEG ratio of 1.12 and a beta of 1.41.

Olin (NYSE:OLN) last posted its quarterly earnings data on Thursday, October 24th. The specialty chemicals company reported ($0.21) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.24). Olin had a net margin of 4.26% and a return on equity of 11.73%. The business had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.57 billion. Equities research analysts anticipate that Olin Co. will post 1.58 EPS for the current fiscal year.

About Olin

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.