Harbor Capital Advisors Inc. Has $2.75 Million Stock Holdings in Olin Corporation $OLN

Harbor Capital Advisors Inc. boosted its position in shares of Olin Corporation (NYSE:OLN) by 39.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 132,013 shares of the specialty chemicals company’s stock after purchasing an additional 37,289 shares during the period. Harbor Capital Advisors Inc. owned 0.12% of Olin worth $2,750,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Spire Wealth Management increased its position in Olin by 58.7% in the 4th quarter. Spire Wealth Management now owns 2,739 shares of the specialty chemicals company’s stock worth $57,000 after purchasing an additional 1,013 shares during the last quarter. Wedge Capital Management L L P NC lifted its holdings in shares of Olin by 7.5% during the 4th quarter. Wedge Capital Management L L P NC now owns 87,636 shares of the specialty chemicals company’s stock valued at $1,825,000 after buying an additional 6,119 shares during the last quarter. Exchange Traded Concepts LLC bought a new stake in shares of Olin in the 4th quarter valued at approximately $257,000. SG Americas Securities LLC increased its holdings in Olin by 142.0% in 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. Finally, GAMMA Investing LLC increased its holdings in Olin by 86.6% in the fourth quarter. GAMMA Investing LLC now owns 5,886 shares of the specialty chemicals company’s stock worth $123,000 after buying an additional 2,731 shares during the last quarter. Hedge funds and other institutional investors own 88.67% of the company’s stock.

Insider Activity

In related news, VP Angela M. Castle sold 2,379 shares of the stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $24.25, for a total transaction of $57,690.75. Following the completion of the sale, the vice president owned 1,528 shares in the company, valued at $37,054. This represents a 60.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP R Nichole Sumner sold 4,750 shares of the firm’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $22.49, for a total value of $106,827.50. Following the completion of the sale, the vice president directly owned 24,771 shares in the company, valued at $557,099.79. This trade represents a 16.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 99,379 shares of company stock valued at $2,238,298. 1.60% of the stock is owned by insiders.

Olin Trading Down 0.1%

NYSE:OLN opened at $28.54 on Friday. The company’s 50 day moving average is $25.15 and its 200-day moving average is $23.16. The company has a quick ratio of 0.73, a current ratio of 1.21 and a debt-to-equity ratio of 1.45. Olin Corporation has a 12 month low of $17.66 and a 12 month high of $30.46. The firm has a market cap of $3.25 billion, a price-to-earnings ratio of -75.11 and a beta of 1.37.

Olin (NYSE:OLN) last posted its quarterly earnings data on Thursday, January 29th. The specialty chemicals company reported ($0.58) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.58). Olin had a negative net margin of 0.63% and a negative return on equity of 0.48%. The business had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same period in the prior year, the firm earned $0.09 EPS. Olin’s quarterly revenue was down .4% compared to the same quarter last year. Equities analysts anticipate that Olin Corporation will post 1.38 EPS for the current year.

Olin Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Tuesday, March 3rd were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date was Tuesday, March 3rd. Olin’s dividend payout ratio is -210.53%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on OLN. KeyCorp reduced their target price on shares of Olin from $29.00 to $26.00 and set an “overweight” rating for the company in a research note on Monday, February 2nd. Mizuho increased their price target on shares of Olin from $24.00 to $26.00 and gave the stock a “neutral” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $26.00 price target on shares of Olin in a report on Tuesday, February 10th. BMO Capital Markets decreased their price objective on shares of Olin from $25.00 to $24.00 and set a “market perform” rating for the company in a report on Tuesday, February 3rd. Finally, Truist Financial lowered their target price on shares of Olin from $23.00 to $20.00 and set a “hold” rating on the stock in a research report on Monday, February 2nd. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, Olin has a consensus rating of “Hold” and an average target price of $23.87.

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.