Qsemble Capital Management LP Sells 13,327 Shares of Olin Co. (NYSE:OLN)

Qsemble Capital Management LP reduced its holdings in shares of Olin Co. (NYSE:OLN) by 59.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,037 shares of the specialty chemicals company’s stock after selling 13,327 shares during the quarter. Qsemble Capital Management LP’s holdings in Olin were worth $426,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of OLN. Campbell & CO Investment Adviser LLC acquired a new stake in Olin in the fourth quarter valued at approximately $3,350,000. Harbor Capital Advisors Inc. lifted its position in shares of Olin by 344.3% during the second quarter. Harbor Capital Advisors Inc. now owns 40,760 shares of the specialty chemicals company’s stock valued at $1,922,000 after purchasing an additional 31,587 shares in the last quarter. CastleKnight Management LP purchased a new position in Olin during the fourth quarter worth about $1,014,000. Bridgewater Associates LP grew its position in Olin by 36.6% in the 4th quarter. Bridgewater Associates LP now owns 321,891 shares of the specialty chemicals company’s stock worth $17,366,000 after purchasing an additional 86,214 shares in the last quarter. Finally, SG Americas Securities LLC increased its stake in Olin by 1,220.6% in the 2nd quarter. SG Americas Securities LLC now owns 50,050 shares of the specialty chemicals company’s stock valued at $2,360,000 after buying an additional 46,260 shares during the last quarter. 88.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on OLN shares. Piper Sandler reduced their target price on Olin from $75.00 to $57.00 and set an “overweight” rating for the company in a report on Tuesday, July 30th. Mizuho started coverage on Olin in a research note on Thursday, August 8th. They issued a “neutral” rating and a $45.00 price objective for the company. Royal Bank of Canada lowered their target price on Olin from $61.00 to $52.00 and set an “outperform” rating on the stock in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Olin from $57.00 to $48.00 and set a “hold” rating for the company in a research report on Monday, July 29th. Finally, Wells Fargo & Company lowered their price objective on shares of Olin from $50.00 to $48.00 and set an “equal weight” rating on the stock in a research report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $52.73.

Olin Price Performance

Olin stock opened at $42.96 on Friday. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.43 and a quick ratio of 0.82. Olin Co. has a one year low of $39.47 and a one year high of $60.60. The firm has a market capitalization of $5.13 billion, a P/E ratio of 15.45, a PEG ratio of 0.89 and a beta of 1.41. The business has a fifty day moving average price of $44.15 and a 200-day moving average price of $50.45.

Olin (NYSE:OLN) last posted its earnings results on Thursday, July 25th. The specialty chemicals company reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.08). Olin had a net margin of 4.26% and a return on equity of 11.73%. The company had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same period in the previous year, the firm earned $1.13 EPS. The firm’s quarterly revenue was down 3.5% compared to the same quarter last year. As a group, equities research analysts forecast that Olin Co. will post 1.61 EPS for the current year.

Olin Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Thursday, August 8th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.86%. The ex-dividend date was Thursday, August 8th. Olin’s payout ratio is 28.78%.

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.