Headlands Technologies LLC Lowers Position in Olin Corporation (NYSE:OLN)

Headlands Technologies LLC reduced its stake in Olin Corporation (NYSE:OLN) by 29.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,625 shares of the specialty chemicals company’s stock after selling 1,121 shares during the quarter. Headlands Technologies LLC’s holdings in Olin were worth $64,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bank of Montreal Can raised its holdings in shares of Olin by 19.4% in the 4th quarter. Bank of Montreal Can now owns 33,846 shares of the specialty chemicals company’s stock valued at $1,144,000 after acquiring an additional 5,491 shares in the last quarter. Invesco Ltd. grew its position in shares of Olin by 19.3% in the 4th quarter. Invesco Ltd. now owns 398,057 shares of the specialty chemicals company’s stock worth $13,454,000 after buying an additional 64,449 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Olin in the 4th quarter worth approximately $6,779,000. Covestor Ltd grew its position in shares of Olin by 45.8% in the 4th quarter. Covestor Ltd now owns 1,334 shares of the specialty chemicals company’s stock worth $45,000 after buying an additional 419 shares during the last quarter. Finally, Sterling Capital Management LLC boosted its position in shares of Olin by 54.8% during the fourth quarter. Sterling Capital Management LLC now owns 7,048 shares of the specialty chemicals company’s stock valued at $238,000 after purchasing an additional 2,495 shares in the last quarter. 88.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Citigroup dropped their price target on Olin from $26.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday, July 8th. Wells Fargo & Company reduced their price objective on Olin from $22.00 to $21.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 30th. Royal Bank Of Canada reduced their price objective on Olin from $25.00 to $23.00 and set a “sector perform” rating for the company in a research report on Thursday, July 3rd. KeyCorp reduced their price target on Olin from $32.00 to $31.00 and set an “overweight” rating for the company in a research report on Wednesday, July 30th. Finally, Mizuho dropped their price objective on Olin from $24.00 to $23.00 and set a “neutral” rating for the company in a research note on Tuesday, July 29th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $25.57.

Olin Stock Up 5.4%

Olin stock opened at $19.74 on Wednesday. Olin Corporation has a twelve month low of $17.66 and a twelve month high of $49.60. The stock’s fifty day simple moving average is $20.48 and its 200-day simple moving average is $22.56. The company has a current ratio of 1.48, a quick ratio of 0.88 and a debt-to-equity ratio of 1.50. The firm has a market capitalization of $2.26 billion, a P/E ratio of -164.53 and a beta of 1.55.

Olin (NYSE:OLN) last issued its earnings results on Monday, July 28th. The specialty chemicals company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.04). Olin had a negative return on equity of 0.13% and a negative net margin of 0.21%. The firm had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same quarter in the previous year, the firm posted $0.62 EPS. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. As a group, equities analysts expect that Olin Corporation will post 1.38 earnings per share for the current fiscal year.

Olin Company 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.