Lodge Hill Capital LLC Has $23.10 Million Stake in Olin Co. (NYSE:OLN)

Lodge Hill Capital LLC decreased its position in Olin Co. (NYSE:OLN) by 3.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 490,000 shares of the specialty chemicals company’s stock after selling 20,000 shares during the period. Olin accounts for 6.2% of Lodge Hill Capital LLC’s portfolio, making the stock its 5th largest position. Lodge Hill Capital LLC’s holdings in Olin were worth $23,104,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. LRI Investments LLC bought a new position in Olin in the first quarter valued at approximately $28,000. EverSource Wealth Advisors LLC increased its holdings in Olin by 4,375.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 537 shares of the specialty chemicals company’s stock worth $32,000 after purchasing an additional 525 shares in the last quarter. nVerses Capital LLC acquired a new stake in shares of Olin in the 2nd quarter valued at about $33,000. Quarry LP bought a new stake in shares of Olin in the fourth quarter valued at about $50,000. Finally, Denver PWM LLC bought a new position in shares of Olin during the second quarter worth about $59,000. 88.67% of the stock is currently owned by institutional investors and hedge funds.

Olin Price Performance

NYSE:OLN opened at $44.10 on Friday. Olin Co. has a 12-month low of $39.47 and a 12-month high of $60.60. The stock’s 50 day moving average price is $43.84 and its two-hundred day moving average price is $50.11. The company has a quick ratio of 0.82, a current ratio of 1.43 and a debt-to-equity ratio of 1.29. The firm has a market capitalization of $5.18 billion, a price-to-earnings ratio of 15.86, a P/E/G ratio of 0.94 and a beta of 1.41.

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

Olin Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Thursday, August 8th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date of this dividend was Thursday, August 8th. Olin’s dividend payout ratio is currently 28.78%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on OLN shares. Bank of America cut Olin from a “buy” rating to a “neutral” rating and cut their target price for the company from $62.00 to $51.00 in a research note on Monday, July 29th. Mizuho began coverage on shares of Olin in a report on Thursday, August 8th. They issued a “neutral” rating and a $45.00 price objective on the stock. Barclays reduced their target price 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. BMO Capital Markets assumed coverage on shares of Olin in a research note on Tuesday, September 3rd. They issued a “market perform” rating and a $50.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of Olin from $57.00 to $48.00 and set a “hold” 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 given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $52.73.

Olin 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.