Ethic Inc. Takes Position in Olin Co. (NYSE:OLN)

Ethic Inc. bought a new stake in Olin Co. (NYSE:OLN - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 13,338 shares of the specialty chemicals company's stock, valued at approximately $451,000.

Several other large investors have also recently added to or reduced their stakes in OLN. Thrivent Financial for Lutherans increased its position in Olin by 5,746.2% in the 4th quarter. Thrivent Financial for Lutherans now owns 1,613,796 shares of the specialty chemicals company's stock valued at $54,546,000 after acquiring an additional 1,586,192 shares during the period. Norges Bank bought a new position in Olin during the 4th quarter valued at $47,887,000. Fuller & Thaler Asset Management Inc. boosted its stake in Olin by 11.5% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 4,543,844 shares of the specialty chemicals company's stock valued at $153,582,000 after purchasing an additional 467,680 shares in the last quarter. Marshall Wace LLP boosted its stake in Olin by 1,960.7% during the 4th quarter. Marshall Wace LLP now owns 344,962 shares of the specialty chemicals company's stock valued at $11,660,000 after purchasing an additional 328,222 shares in the last quarter. Finally, Pzena Investment Management LLC boosted its stake in Olin by 7.4% during the 4th quarter. Pzena Investment Management LLC now owns 3,709,611 shares of the specialty chemicals company's stock valued at $125,385,000 after purchasing an additional 256,903 shares in the last quarter. 88.67% of the stock is currently owned by institutional investors and hedge funds.

Olin Stock Down 2.2%

OLN traded down $0.46 during trading on Monday, reaching $20.67. 1,193,928 shares of the stock traded hands, compared to its average volume of 1,605,198. The stock has a market cap of $2.38 billion, a price-to-earnings ratio of 22.97 and a beta of 1.56. Olin Co. has a fifty-two week low of $17.66 and a fifty-two week high of $56.98. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.27 and a quick ratio of 0.77. The stock's 50-day simple moving average is $22.20 and its two-hundred day simple moving average is $29.93.

Olin (NYSE:OLN - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The specialty chemicals company reported $0.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.10) by $0.14. Olin had a return on equity of 5.10% and a net margin of 1.66%. The firm had revenue of $1.64 billion during the quarter, compared to analysts' expectations of $1.58 billion. During the same quarter last year, the firm earned $0.40 earnings per share. The business's revenue for the quarter was up 1.2% on a year-over-year basis. As a group, equities research analysts expect that Olin Co. will post 1.38 EPS for the current year.

Olin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Thursday, May 15th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $0.80 annualized dividend and a yield of 3.87%. Olin's dividend payout ratio (DPR) is currently 156.86%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Mizuho set a $23.00 price target on Olin in a research note on Tuesday, April 15th. Piper Sandler reduced their price objective on Olin from $33.00 to $26.00 and set a "neutral" rating for the company in a research note on Monday, April 7th. BMO Capital Markets reduced their price objective on Olin from $44.00 to $34.00 and set a "market perform" rating for the company in a research note on Wednesday, February 5th. The Goldman Sachs Group reduced their price objective on Olin from $33.00 to $25.00 and set a "neutral" rating for the company in a research note on Tuesday, May 6th. Finally, JPMorgan Chase & Co. reduced their price objective on Olin from $28.00 to $20.00 and set a "neutral" rating for the company in a research note on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the company. According to MarketBeat, Olin presently has a consensus rating of "Hold" and a consensus price target of $28.07.

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.