Jump Financial LLC Decreases Stock Position in Olin Co. (NYSE:OLN)

Jump Financial LLC trimmed its holdings in Olin Co. (NYSE:OLN - Free Report) by 20.8% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 84,791 shares of the specialty chemicals company's stock after selling 22,282 shares during the quarter. Jump Financial LLC owned about 0.07% of Olin worth $2,866,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Covestor Ltd raised its position in 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. Spire Wealth Management raised its position in Olin by 246.8% in the 4th quarter. Spire Wealth Management now owns 1,616 shares of the specialty chemicals company's stock worth $55,000 after buying an additional 1,150 shares during the last quarter. CoreFirst Bank & Trust purchased a new position in Olin in the 4th quarter worth about $66,000. Jones Financial Companies Lllp increased its position in shares of Olin by 59.9% during the 4th quarter. Jones Financial Companies Lllp now owns 2,431 shares of the specialty chemicals company's stock valued at $82,000 after purchasing an additional 911 shares during the last quarter. Finally, Blue Trust Inc. increased its position in shares of Olin by 34.3% during the 4th quarter. Blue Trust Inc. now owns 2,887 shares of the specialty chemicals company's stock valued at $98,000 after purchasing an additional 738 shares during the last quarter. Hedge funds and other institutional investors own 88.67% of the company's stock.

Insider Activity

In other news, CEO Kenneth Todd Lane bought 7,250 shares of the stock in a transaction dated Tuesday, February 4th. The stock was purchased at an average cost of $28.06 per share, for a total transaction of $203,435.00. Following the transaction, the chief executive officer now owns 7,250 shares of the company's stock, valued at $203,435. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.60% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on OLN shares. BMO Capital Markets reduced their price target on shares of Olin from $44.00 to $34.00 and set a "market perform" rating for the company in a research report on Wednesday, February 5th. UBS Group reduced their price target on shares of Olin from $34.00 to $21.00 and set a "neutral" rating for the company in a research report on Monday, April 7th. Piper Sandler reduced their price target on shares of Olin from $33.00 to $26.00 and set a "neutral" rating for the company in a research report on Monday, April 7th. Barclays cut their price objective on Olin from $34.00 to $28.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 1st. Finally, JPMorgan Chase & Co. downgraded Olin from an "overweight" rating to a "neutral" rating and cut their price objective for the company from $50.00 to $28.00 in a research note on Thursday, February 27th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $33.25.

Olin Price Performance

OLN stock traded down $0.15 during midday trading on Wednesday, hitting $21.46. The company's stock had a trading volume of 537,866 shares, compared to its average volume of 1,909,432. Olin Co. has a 12 month low of $17.66 and a 12 month high of $57.10. The company has a quick ratio of 0.77, a current ratio of 1.27 and a debt-to-equity ratio of 1.32. The firm has a market capitalization of $2.47 billion, a price-to-earnings ratio of 23.84 and a beta of 1.50. The company has a 50 day moving average of $23.74 and a two-hundred day moving average of $32.99.

Olin (NYSE:OLN - Get Free Report) last posted its earnings results on Thursday, January 30th. The specialty chemicals company reported $0.09 EPS for the quarter, beating analysts' consensus estimates of ($0.01) by $0.10. Olin had a return on equity of 5.10% and a net margin of 1.66%. On average, analysts expect that Olin Co. will post 1.38 EPS for the current year.

Olin Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, March 6th were given a dividend of $0.20 per share. The ex-dividend date was Thursday, March 6th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.73%. Olin's dividend payout ratio is currently 88.89%.

Olin 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.