52,101 Shares in Olin Co. (NYSE:OLN) Acquired by Dorsey Wright & Associates

May 14, 2023

Dorsey Wright & Associates purchased a new position in Olin Co. (NYSE:OLN - Get Rating) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 52,101 shares of the specialty chemicals company's stock, valued at approximately $2,758,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of OLN. Salem Investment Counselors Inc. purchased a new position in shares of Olin during the 1st quarter valued at approximately $26,000. Bessemer Group Inc. acquired a new stake in shares of Olin during the 3rd quarter worth about $27,000. Quadrant Capital Group LLC increased its position in shares of Olin by 52.2% during the 3rd quarter. Quadrant Capital Group LLC now owns 985 shares of the specialty chemicals company's stock worth $42,000 after purchasing an additional 338 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Olin during the 1st quarter worth about $53,000. Finally, AXS Investments LLC acquired a new stake in shares of Olin during the 4th quarter worth about $60,000. Institutional investors and hedge funds own 85.77% of the company's stock.

A number of analysts recently issued reports on the company. StockNews.com downgraded Olin from a "buy" rating to a "hold" rating in a research report on Friday, May 26th. Piper Sandler dropped their target price on Olin from $83.00 to $80.00 in a research report on Tuesday, May 2nd. Stifel Nicolaus lifted their target price on Olin from $89.00 to $90.00 in a research report on Monday, May 1st. Finally, Royal Bank of Canada lifted their target price on Olin from $74.00 to $76.00 in a research report on Monday, May 1st. Two research analysts have rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $67.67.

Shares of OLN traded down $0.34 during midday trading on Friday, hitting $51.37. The company had a trading volume of 445,082 shares, compared to its average volume of 1,392,978. The company's 50-day simple moving average is $54.11 and its 200-day simple moving average is $55.64. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.84 and a current ratio of 1.60. The firm has a market capitalization of $6.64 billion, a P/E ratio of 6.87, a P/E/G ratio of 0.96 and a beta of 1.45. Olin Co. has a 1 year low of $41.33 and a 1 year high of $64.70.

Olin (NYSE:OLN - Get Rating) last released its earnings results on Friday, April 28th. The specialty chemicals company reported $1.16 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.28 by ($0.12). The company had revenue of $1.84 billion during the quarter, compared to analyst estimates of $2.05 billion. Olin had a net margin of 12.45% and a return on equity of 42.24%. The company's revenue for the quarter was down 25.1% on a year-over-year basis. During the same period in the previous year, the firm posted $2.48 EPS. As a group, sell-side analysts expect that Olin Co. will post 5.49 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 9th. Investors of record on Thursday, May 11th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date is Wednesday, May 10th. Olin's dividend payout ratio is presently 10.62%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].

Before you consider Olin, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Olin wasn't on the list.

While Olin currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Click the link below and we'll send you MarketBeat's list of the 10 best stocks to own in 2023 and why they should be in your portfolio.

Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools:

View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio.

Get daily stock ideas from top-performing Wall Street analysts. Get short term trading ideas from the MarketBeat Idea Engine. View which stocks are hot on social media with MarketBeat's trending stocks report.

Identify stocks that meet your criteria using seven unique stock screeners. See what's happening in the market right now with MarketBeat's real-time news feed. Export data to Excel for your own analysis.