Olin Co. (NYSE:OLN) Short Interest Update

Olin Co. (NYSE:OLN) was the recipient of a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 3,300,000 shares, an increase of 15.4% from the August 15th total of 2,860,000 shares. Based on an average daily volume of 1,300,000 shares, the days-to-cover ratio is currently 2.5 days. Approximately 2.8% of the company’s shares are short sold.

Olin Stock Performance

OLN traded up $0.42 during trading hours on Tuesday, reaching $43.51. The company’s stock had a trading volume of 955,944 shares, compared to its average volume of 1,105,132. The company’s 50-day moving average is $44.05 and its 200-day moving average is $50.28. Olin has a 52 week low of $39.47 and a 52 week high of $60.60. The firm has a market cap of $5.11 billion, a PE ratio of 15.65, a price-to-earnings-growth ratio of 0.91 and a beta of 1.41. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.82 and a current ratio of 1.43.

Olin (NYSE:OLN) last issued its quarterly earnings results on Thursday, July 25th. The specialty chemicals company reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.08). The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.71 billion. Olin had a return on equity of 11.73% and a net margin of 4.26%. The company’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.13 EPS. On average, equities analysts forecast that Olin will post 1.61 EPS for the current year.

Olin Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Thursday, August 8th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date of this dividend was Thursday, August 8th. Olin’s dividend payout ratio is currently 28.78%.

Institutional Trading of Olin

A number of large investors have recently bought and sold shares of OLN. Campbell & CO Investment Adviser LLC purchased a new stake in Olin in the 4th quarter valued at about $3,350,000. Harbor Capital Advisors Inc. grew its stake in Olin by 344.3% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 40,760 shares of the specialty chemicals company’s stock worth $1,922,000 after buying an additional 31,587 shares in the last quarter. CastleKnight Management LP bought a new position in Olin in the fourth quarter valued at $1,014,000. Bridgewater Associates LP increased its position in shares of Olin by 36.6% during the 4th quarter. Bridgewater Associates LP now owns 321,891 shares of the specialty chemicals company’s stock valued at $17,366,000 after purchasing an additional 86,214 shares during the last quarter. Finally, SG Americas Securities LLC raised its stake in shares of Olin by 1,220.6% during the second quarter. SG Americas Securities LLC now owns 50,050 shares of the specialty chemicals company’s stock worth $2,360,000 after acquiring an additional 46,260 shares in the last quarter. 88.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. The Goldman Sachs Group lowered their price objective on shares of Olin from $55.00 to $49.00 and set a “neutral” rating for the company in a research report on Monday, July 29th. JPMorgan Chase & Co. raised Olin from a “neutral” rating to an “overweight” rating and set a $55.00 target price for the company in a research note on Monday, July 29th. Piper Sandler dropped their target price on shares of Olin from $75.00 to $57.00 and set an “overweight” rating on the stock in a report on Tuesday, July 30th. UBS Group reduced their price target on shares of Olin from $59.00 to $51.00 and set a “neutral” rating for the company in a report on Tuesday, July 9th. Finally, BMO Capital Markets started coverage on Olin in a research note on Tuesday, September 3rd. They issued a “market perform” rating and a $50.00 target price on the stock. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $52.73.

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.