Edgestream Partners L.P. Makes New $6.89 Million Investment in Olin Corporation $OLN

Edgestream Partners L.P. acquired a new stake in shares of Olin Corporation (NYSE:OLN) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 231,874 shares of the specialty chemicals company’s stock, valued at approximately $6,894,000.

Several other institutional investors and hedge funds have also modified their holdings of OLN. Harbor Capital Advisors Inc. raised its position in Olin by 39.4% in the fourth quarter. Harbor Capital Advisors Inc. now owns 132,013 shares of the specialty chemicals company’s stock valued at $2,750,000 after purchasing an additional 37,289 shares during the last quarter. Stanley Laman Group Ltd. bought a new stake in shares of Olin during the fourth quarter worth about $3,722,000. UBS Group AG increased its stake in shares of Olin by 52.2% in the fourth quarter. UBS Group AG now owns 1,098,312 shares of the specialty chemicals company’s stock valued at $22,878,000 after buying an additional 376,543 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Olin by 22.4% in the first quarter. Dimensional Fund Advisors LP now owns 5,627,997 shares of the specialty chemicals company’s stock valued at $167,311,000 after buying an additional 1,031,498 shares during the period. Finally, Unison Advisors LLC bought a new position in Olin in the 4th quarter valued at approximately $745,000. Institutional investors and hedge funds own 88.67% of the company’s stock.

Olin Price Performance

Olin stock opened at $22.11 on Friday. The stock has a market capitalization of $2.52 billion, a price-to-earnings ratio of -19.74 and a beta of 1.21. Olin Corporation has a 52-week low of $18.08 and a 52-week high of $30.46. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.82 and a current ratio of 1.36. The stock’s 50 day moving average price is $22.87 and its two-hundred day moving average price is $24.79.

Analyst Ratings Changes

OLN has been the topic of several recent research reports. Bank of America downgraded shares of Olin from a “buy” rating to an “underperform” rating and cut their target price for the stock from $32.00 to $21.00 in a research report on Tuesday, June 30th. The Goldman Sachs Group dropped their price target on shares of Olin from $31.00 to $24.00 and set a “neutral” rating for the company in a research note on Thursday, July 16th. Citigroup lowered shares of Olin from a “neutral” rating to an “underperform” rating in a report on Tuesday, June 30th. Truist Financial decreased their price objective on Olin from $26.00 to $24.00 and set a “hold” rating for the company in a report on Monday, July 20th. Finally, Zacks Research raised Olin from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, nine have issued a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $26.46.

Olin Company 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.