AQR Capital Management LLC Buys 40,342 Shares of Olin Co. (NYSE:OLN)

AQR Capital Management LLC increased its stake in shares of Olin Co. (NYSE:OLN - Free Report) by 5.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 844,992 shares of the specialty chemicals company's stock after buying an additional 40,342 shares during the period. AQR Capital Management LLC owned 0.72% of Olin worth $28,459,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in OLN. Covestor Ltd lifted its position in shares of Olin by 45.8% during the fourth quarter. Covestor Ltd now owns 1,334 shares of the specialty chemicals company's stock worth $45,000 after purchasing an additional 419 shares in 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 purchasing an additional 1,150 shares during the last quarter. CoreFirst Bank & Trust acquired a new position in Olin during the 4th quarter worth $66,000. Jones Financial Companies Lllp boosted its position in Olin by 59.9% in the 4th quarter. Jones Financial Companies Lllp now owns 2,431 shares of the specialty chemicals company's stock valued at $82,000 after buying an additional 911 shares during the last quarter. Finally, Blue Trust Inc. increased its stake 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 valued at $98,000 after buying an additional 738 shares during the period. Institutional investors own 88.67% of the company's stock.

Olin Stock Up 0.2 %

Shares of OLN stock traded up $0.04 during trading hours on Friday, hitting $21.45. 406,452 shares of the company were exchanged, compared to its average volume of 1,576,791. Olin Co. has a 52 week low of $17.66 and a 52 week high of $57.10. The company has a current ratio of 1.27, a quick ratio of 0.77 and a debt-to-equity ratio of 1.32. The business has a 50 day moving average of $22.52 and a two-hundred day moving average of $30.98. The company has a market capitalization of $2.47 billion, a PE ratio of 23.83 and a beta of 1.56.

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

Olin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Thursday, May 15th will be paid 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 dividend yield of 3.73%. Olin's dividend payout ratio is currently 156.86%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Morgan Stanley lowered their price objective on Olin from $31.00 to $28.00 and set an "underweight" rating for the company in a research report on Tuesday, February 4th. The Goldman Sachs Group lowered their price target on shares of Olin from $33.00 to $25.00 and set a "neutral" rating for the company in a research report on Tuesday. Royal Bank of Canada dropped their price target on shares of Olin from $28.00 to $25.00 and set a "sector perform" rating for the company in a research note on Monday. Bank of America raised shares of Olin from a "neutral" rating to a "buy" rating and lowered their target price for the stock from $48.00 to $40.00 in a report on Tuesday, January 14th. Finally, KeyCorp cut their price target on Olin from $40.00 to $34.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $28.60.

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.