Man Group plc Purchases 35,364 Shares of Olin Co. (OLN)

Man Group plc grew its position in shares of Olin Co. (NYSE:OLN) by 95.1% in the 3rd quarter, HoldingsChannel reports. The fund owned 72,545 shares of the specialty chemicals company’s stock after buying an additional 35,364 shares during the period. Man Group plc’s holdings in Olin were worth $1,863,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in OLN. FMR LLC increased its holdings in shares of Olin by 68.3% during the second quarter. FMR LLC now owns 12,699,713 shares of the specialty chemicals company’s stock valued at $364,736,000 after acquiring an additional 5,155,375 shares in the last quarter. Victory Capital Management Inc. purchased a new position in shares of Olin during the third quarter valued at approximately $9,256,000. Canada Pension Plan Investment Board boosted its position in shares of Olin by 97.5% during the third quarter. Canada Pension Plan Investment Board now owns 699,817 shares of the specialty chemicals company’s stock valued at $17,971,000 after buying an additional 345,500 shares during the last quarter. Prudential Financial Inc. boosted its position in shares of Olin by 18.0% during the third quarter. Prudential Financial Inc. now owns 1,951,593 shares of the specialty chemicals company’s stock valued at $50,117,000 after buying an additional 298,050 shares during the last quarter. Finally, Capital Fund Management S.A. purchased a new position in shares of Olin during the third quarter valued at approximately $7,201,000. Hedge funds and other institutional investors own 86.92% of the company’s stock.

OLN stock opened at $22.89 on Friday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.13 and a current ratio of 1.81. Olin Co. has a 1-year low of $17.87 and a 1-year high of $38.75. The firm has a market capitalization of $3.71 billion, a price-to-earnings ratio of 28.26, a price-to-earnings-growth ratio of 0.28 and a beta of 1.52.

Olin (NYSE:OLN) last posted its quarterly earnings data on Monday, October 29th. The specialty chemicals company reported $0.66 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by ($0.09). Olin had a return on equity of 10.70% and a net margin of 11.02%. The business had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same period in the prior year, the firm posted $0.31 EPS. The firm’s revenue for the quarter was up 20.4% on a year-over-year basis. As a group, research analysts predict that Olin Co. will post 1.88 earnings per share for the current year.

In other Olin news, Director Scott Mcdougald Sutton acquired 15,000 shares of the business’s stock in a transaction on Thursday, November 1st. The shares were acquired at an average price of $21.62 per share, with a total value of $324,300.00. Following the completion of the transaction, the director now owns 15,000 shares in the company, valued at $324,300. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP John Maurice Sampson acquired 5,000 shares of the business’s stock in a transaction on Tuesday, November 20th. The stock was acquired at an average cost of $19.84 per share, for a total transaction of $99,200.00. The disclosure for this purchase can be found here. In the last three months, insiders acquired 21,800 shares of company stock worth $460,844. Insiders own 1.70% of the company’s stock.

Several research analysts recently issued reports on the company. Zacks Investment Research cut Olin from a “hold” rating to a “sell” rating in a research report on Thursday. TheStreet cut Olin from a “b-” rating to a “c+” rating in a research report on Monday, November 12th. SunTrust Banks cut their target price on Olin to $35.00 and set an “in-line” rating on the stock in a research report on Wednesday, October 31st. They noted that the move was a valuation call. ValuEngine raised Olin from a “strong sell” rating to a “sell” rating in a research report on Thursday, December 13th. Finally, Barclays cut their target price on Olin from $29.00 to $24.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 31st. Two analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $32.00.

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Olin Company Profile

Olin Corporation manufactures and distributes chemical products in the United States and internationally. 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, trichloroethylene and vinylidene chloride, hydrochloric acid, hydrogen, bleach products, and potassium hydroxide.

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Institutional Ownership by Quarter for Olin (NYSE:OLN)

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