AQR Capital Management LLC boosted its stake in Olin Co. (NYSE:OLN - Free Report) by 5.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 844,992 shares of the specialty chemicals company's stock after acquiring an additional 40,342 shares during the quarter. AQR Capital Management LLC owned about 0.72% of Olin worth $28,459,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the company. Covestor Ltd raised its position in shares of Olin by 45.8% in the 4th quarter. Covestor Ltd now owns 1,334 shares of the specialty chemicals company's stock valued at $45,000 after purchasing an additional 419 shares in the last quarter. Wilmington Savings Fund Society FSB raised its holdings in Olin by 9.4% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 5,833 shares of the specialty chemicals company's stock valued at $197,000 after acquiring an additional 500 shares in the last quarter. Connable Office Inc. boosted its stake in Olin by 9.3% during the 4th quarter. Connable Office Inc. now owns 6,207 shares of the specialty chemicals company's stock valued at $210,000 after acquiring an additional 527 shares during the last quarter. First Citizens Bank & Trust Co. grew its holdings in Olin by 8.5% during the 4th quarter. First Citizens Bank & Trust Co. now owns 6,930 shares of the specialty chemicals company's stock worth $234,000 after acquiring an additional 542 shares in the last quarter. Finally, Blue Trust Inc. increased its position in shares of Olin by 34.3% in the 4th quarter. Blue Trust Inc. now owns 2,887 shares of the specialty chemicals company's stock worth $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.
Olin Price Performance
OLN traded down $0.16 during trading on Tuesday, reaching $20.48. The stock had a trading volume of 2,070,057 shares, compared to its average volume of 1,575,506. The stock has a 50 day moving average of $22.76 and a two-hundred day moving average of $31.29. 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 $2.36 billion, a price-to-earnings ratio of 22.75 and a beta of 1.56. Olin Co. has a 1-year low of $17.66 and a 1-year high of $57.10.
Olin (NYSE:OLN - Get Free Report) last announced its earnings results on Thursday, May 1st. The specialty chemicals company reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.14. Olin had a return on equity of 5.10% and a net margin of 1.66%. The business had revenue of $1.64 billion during the quarter, compared to analysts' expectations of $1.58 billion. During the same quarter last year, the business posted $0.40 earnings per share. The company's quarterly revenue was up 1.2% on a year-over-year basis. As a group, equities analysts anticipate that Olin Co. will post 1.38 EPS for the current fiscal year.
Olin Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Thursday, May 15th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.91%. The ex-dividend date is Thursday, May 15th. Olin's dividend payout ratio is presently 156.86%.
Analysts Set New Price Targets
OLN has been the subject of a number of research reports. Piper Sandler decreased their price target on Olin from $33.00 to $26.00 and set a "neutral" rating for the company in a research note on Monday, April 7th. Bank of America raised Olin from a "neutral" rating to a "buy" rating and dropped their price target for the company from $48.00 to $40.00 in a research report on Tuesday, January 14th. Citigroup lowered their price objective on shares of Olin from $34.00 to $30.00 and set a "buy" rating for the company in a research report on Thursday, March 27th. UBS Group upped their target price on Olin from $21.00 to $22.00 and gave the company a "neutral" rating in a report on Friday. Finally, Truist Financial reduced their price objective on Olin from $25.00 to $24.00 and set a "hold" rating for the company in a research report on Monday. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, Olin has an average rating of "Hold" and an average target price of $28.60.
View Our Latest Research Report on Olin
About Olin
(
Free Report)
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.
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