Signet Financial Management LLC Has $1.96 Million Stake in Olin Co. (NYSE:OLN)

Signet Financial Management LLC boosted its holdings in shares of Olin Co. (NYSE:OLN) by 2.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,357 shares of the specialty chemicals company’s stock after purchasing an additional 644 shares during the period. Signet Financial Management LLC’s holdings in Olin were worth $1,961,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of OLN. Covestor Ltd increased its holdings in Olin by 76.7% during the 3rd quarter. Covestor Ltd now owns 659 shares of the specialty chemicals company’s stock valued at $33,000 after purchasing an additional 286 shares in the last quarter. Sandy Spring Bank increased its stake in shares of Olin by 145.6% in the 4th quarter. Sandy Spring Bank now owns 614 shares of the specialty chemicals company’s stock valued at $33,000 after buying an additional 364 shares during the period. Quarry LP acquired a new stake in shares of Olin in the 4th quarter valued at $50,000. ORG Partners LLC increased its stake in shares of Olin by 1,100.0% in the 4th quarter. ORG Partners LLC now owns 960 shares of the specialty chemicals company’s stock valued at $52,000 after buying an additional 880 shares during the period. Finally, GAMMA Investing LLC acquired a new stake in shares of Olin in the 4th quarter valued at $96,000. 88.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Bank of America lowered their target price on Olin from $74.00 to $72.00 and set a “buy” rating for the company in a research note on Monday, April 29th. Stifel Nicolaus lifted their target price on Olin from $68.00 to $69.00 and gave the company a “buy” rating in a research note on Monday, April 29th. Wells Fargo & Company lifted their price objective on Olin from $56.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 3rd. Piper Sandler lifted their price objective on Olin from $72.00 to $75.00 and gave the stock an “overweight” rating in a research note on Monday, April 29th. Finally, Citigroup lifted their price objective on Olin from $63.00 to $67.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $60.00.

Olin Stock Performance

OLN stock opened at $47.63 on Friday. The firm has a market cap of $5.69 billion, a PE ratio of 17.13, a P/E/G ratio of 0.28 and a beta of 1.47. The business’s 50-day moving average price is $52.66 and its two-hundred day moving average price is $53.52. Olin Co. has a 1-year low of $41.71 and a 1-year high of $60.60. The company has a current ratio of 1.38, a quick ratio of 0.80 and a debt-to-equity ratio of 1.22.

Olin (NYSE:OLN) last issued its quarterly earnings results on Friday, April 26th. The specialty chemicals company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.02. The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.65 billion. Olin had a return on equity of 14.47% and a net margin of 5.32%. The company’s quarterly revenue was down 11.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.16 earnings per share. As a group, research analysts forecast that Olin Co. will post 3.66 earnings per share for the current year.

Olin Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Thursday, May 9th were issued a $0.20 dividend. The ex-dividend date was Wednesday, May 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.68%. Olin’s dividend payout ratio (DPR) is 28.78%.

Olin Company Profile

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.