Invenomic Capital Management LP Purchases 156,714 Shares of Olin Corporation $OLN

Invenomic Capital Management LP increased its position in Olin Corporation (NYSE:OLN) by 68.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 387,259 shares of the specialty chemicals company’s stock after purchasing an additional 156,714 shares during the quarter. Invenomic Capital Management LP owned approximately 0.34% of Olin worth $8,067,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of OLN. Orbis Allan Gray Ltd boosted its position in Olin by 448.9% during the 4th quarter. Orbis Allan Gray Ltd now owns 3,804,561 shares of the specialty chemicals company’s stock valued at $79,249,000 after acquiring an additional 3,111,393 shares in the last quarter. Millennium Management LLC boosted its position in Olin by 1,063.0% during the 3rd quarter. Millennium Management LLC now owns 2,486,702 shares of the specialty chemicals company’s stock valued at $62,143,000 after acquiring an additional 2,272,877 shares in the last quarter. Semper Augustus Investments Group LLC boosted its position in Olin by 141.3% during the 3rd quarter. Semper Augustus Investments Group LLC now owns 1,924,245 shares of the specialty chemicals company’s stock valued at $48,087,000 after acquiring an additional 1,126,809 shares in the last quarter. Amundi bought a new stake in Olin during the 3rd quarter valued at $24,418,000. Finally, AQR Capital Management LLC boosted its position in Olin by 80.5% during the 3rd quarter. AQR Capital Management LLC now owns 1,811,533 shares of the specialty chemicals company’s stock valued at $44,564,000 after acquiring an additional 807,846 shares in the last quarter. Institutional investors own 88.67% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Wells Fargo & Company reaffirmed an “overweight” rating and set a $37.00 target price on shares of Olin in a research report on Sunday, May 10th. Citigroup raised their price objective on Olin from $26.00 to $30.00 and gave the stock a “neutral” rating in a research report on Thursday, April 16th. Wall Street Zen raised Olin from a “sell” rating to a “hold” rating in a research report on Saturday, April 11th. Weiss Ratings reissued a “sell (d)” rating on shares of Olin in a research report on Friday, May 22nd. Finally, Zacks Research raised Olin from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, ten have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $28.08.

Olin Stock Performance

Shares of OLN stock opened at $23.07 on Thursday. The firm has a market capitalization of $2.63 billion, a price-to-earnings ratio of -20.59 and a beta of 1.17. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.36 and a quick ratio of 0.82. The business has a fifty day moving average of $26.64 and a 200 day moving average of $24.72. Olin Corporation has a 1 year low of $18.08 and a 1 year high of $30.46.

Olin Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Thursday, May 14th were paid a dividend of $0.20 per share. The ex-dividend date was Thursday, May 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.5%. Olin’s dividend payout ratio (DPR) is presently -71.43%.

About Olin

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.