Impala Asset Management LLC Has $3.48 Million Holdings in Olin Corporation $OLN

Impala Asset Management LLC boosted its holdings in shares of Olin Corporation (NYSE:OLN) by 39.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 167,000 shares of the specialty chemicals company’s stock after buying an additional 47,000 shares during the quarter. Olin makes up approximately 2.2% of Impala Asset Management LLC’s investment portfolio, making the stock its 11th largest position. Impala Asset Management LLC owned approximately 0.15% of Olin worth $3,479,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Choreo LLC acquired a new position in Olin during the third quarter worth approximately $726,000. Invenomic Capital Management LP acquired a new position in Olin during the third quarter worth approximately $5,761,000. SG Americas Securities LLC increased its position in Olin by 142.0% during the fourth quarter. SG Americas Securities LLC now owns 455,757 shares of the specialty chemicals company’s stock worth $9,493,000 after buying an additional 267,458 shares during the last quarter. Harbor Capital Advisors Inc. increased its position in Olin by 39.4% during the fourth quarter. Harbor Capital Advisors Inc. now owns 132,013 shares of the specialty chemicals company’s stock worth $2,750,000 after buying an additional 37,289 shares during the last quarter. Finally, Stanley Laman Group Ltd. acquired a new position in Olin during the fourth quarter worth approximately $3,722,000. Institutional investors and hedge funds own 88.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on OLN. Zacks Research raised Olin from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. Mizuho upped their target price on Olin from $24.00 to $26.00 and gave the company a “neutral” rating in a research report on Tuesday, March 31st. The Goldman Sachs Group upped their target price on Olin from $22.00 to $31.00 and gave the company a “neutral” rating in a research report on Tuesday, May 12th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $37.00 target price on shares of Olin in a research report on Sunday, May 10th. Finally, Truist Financial upped their target price on Olin from $20.00 to $26.00 and gave the company a “hold” rating in a research report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $28.08.

Olin Price Performance

Olin stock opened at $25.10 on Friday. Olin Corporation has a 12 month low of $18.08 and a 12 month high of $30.46. The stock’s 50 day moving average is $26.93 and its 200-day moving average is $24.62. The company has a current ratio of 1.36, a quick ratio of 0.82 and a debt-to-equity ratio of 1.73. The company has a market capitalization of $2.86 billion, a price-to-earnings ratio of -22.41 and a beta of 1.17.

Olin Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Thursday, May 14th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $0.80 dividend on an annualized basis and a yield of 3.2%. Olin’s dividend payout ratio is currently -71.43%.

Olin Profile

Olin Corporation is a diversified manufacturer specializing in chemical products and ammunition. The company’s core business activities encompass the production and distribution of chlor-alkali products, epoxy resins and derivatives, and small-caliber ammunition under the Winchester brand. Olin’s chemical operations supply chlorine, caustic soda and related co-products to a wide range of end markets, including water treatment, pulp and paper, pharmaceuticals and general industrial applications.

In its Chlor Alkali Products & Vinyls segment, Olin operates multiple manufacturing facilities that produce chlorine and sodium hydroxide, along with vinyl chloride monomer and polyvinyl chloride (PVC) compounds.