Highland Capital Management LLC Purchases 18,110 Shares of Olin Co. (NYSE:OLN)

Highland Capital Management LLC increased its position in shares of Olin Co. (NYSE:OLN) by 22.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 97,739 shares of the specialty chemicals company’s stock after acquiring an additional 18,110 shares during the quarter. Highland Capital Management LLC owned about 0.08% of Olin worth $4,690,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Boston Partners raised its stake in shares of Olin by 7.7% during the 1st quarter. Boston Partners now owns 5,414,265 shares of the specialty chemicals company’s stock worth $317,897,000 after acquiring an additional 384,888 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Olin by 5.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,741,007 shares of the specialty chemicals company’s stock worth $176,396,000 after acquiring an additional 194,755 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Olin by 2.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,373,519 shares of the specialty chemicals company’s stock worth $64,761,000 after acquiring an additional 33,143 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Olin by 2.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,061,001 shares of the specialty chemicals company’s stock worth $50,907,000 after acquiring an additional 25,163 shares in the last quarter. Finally, Clearbridge Investments LLC raised its stake in shares of Olin by 4.8% during the 1st quarter. Clearbridge Investments LLC now owns 777,658 shares of the specialty chemicals company’s stock worth $45,726,000 after acquiring an additional 35,637 shares in the last quarter. Institutional investors own 88.67% of the company’s stock.

Olin Stock Performance

Shares of NYSE OLN opened at $41.41 on Friday. The company’s fifty day moving average price is $44.78 and its 200 day moving average price is $48.21. Olin Co. has a 1 year low of $39.47 and a 1 year high of $60.60. The company has a market capitalization of $4.95 billion, a PE ratio of 14.90, a price-to-earnings-growth ratio of 1.12 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 posted its quarterly earnings data on Thursday, October 24th. The specialty chemicals company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.24). The company had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.57 billion. Olin had a return on equity of 11.73% and a net margin of 4.26%. On average, research analysts predict that Olin Co. will post 1.58 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently commented on OLN shares. Bank of America lowered shares of Olin from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $62.00 to $51.00 in a research note on Monday, July 29th. JPMorgan Chase & Co. raised shares of Olin from a “neutral” rating to an “overweight” rating and set a $55.00 target price on the stock in a research report on Monday, July 29th. Wells Fargo & Company dropped their target price on shares of Olin from $50.00 to $48.00 and set an “equal weight” rating on the stock in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Olin from $57.00 to $48.00 and set a “hold” rating on the stock in a research report on Monday, July 29th. Finally, 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 research report on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $52.40.

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.