Aristeia Capital L.L.C. Invests $419,000 in Olin Co. (NYSE:OLN)

Aristeia Capital L.L.C. bought a new position in Olin Co. (NYSE:OLN - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 12,411 shares of the specialty chemicals company's stock, valued at approximately $419,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fuller & Thaler Asset Management Inc. increased its stake in shares of Olin by 11.5% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 4,543,844 shares of the specialty chemicals company's stock worth $153,582,000 after purchasing an additional 467,680 shares during the period. Dimensional Fund Advisors LP increased its position in Olin by 4.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,976,869 shares of the specialty chemicals company's stock worth $134,413,000 after buying an additional 178,145 shares during the period. Pzena Investment Management LLC lifted its holdings in shares of Olin by 7.4% during the fourth quarter. Pzena Investment Management LLC now owns 3,709,611 shares of the specialty chemicals company's stock worth $125,385,000 after buying an additional 256,903 shares during the last quarter. Thrivent Financial for Lutherans lifted its holdings in shares of Olin by 5,746.2% during the fourth quarter. Thrivent Financial for Lutherans now owns 1,613,796 shares of the specialty chemicals company's stock worth $54,546,000 after buying an additional 1,586,192 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Olin in the fourth quarter valued at approximately $47,887,000. Institutional investors and hedge funds own 88.67% of the company's stock.

Olin Price Performance

Shares of NYSE:OLN traded down $1.50 during trading on Monday, reaching $20.71. The stock had a trading volume of 2,044,936 shares, compared to its average volume of 1,570,262. The stock has a market capitalization of $2.38 billion, a PE ratio of 23.01 and a beta of 1.56. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.27 and a quick ratio of 0.77. Olin Co. has a 52 week low of $17.66 and a 52 week high of $57.10. The business's 50-day moving average price is $22.86 and its 200 day moving average price is $31.48.

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

Olin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Thursday, May 15th will be given a dividend of $0.20 per share. The ex-dividend date is Thursday, May 15th. This represents a $0.80 annualized dividend and a yield of 3.86%. Olin's dividend payout ratio (DPR) is 156.86%.

Insiders Place Their Bets

In related news, CEO Kenneth Todd Lane bought 7,250 shares of Olin stock in a transaction dated Tuesday, February 4th. The shares were bought at an average cost of $28.06 per share, for a total transaction of $203,435.00. Following the completion of the transaction, the chief executive officer now owns 7,250 shares of the company's stock, valued at approximately $203,435. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.60% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Bank of America upgraded shares of Olin from a "neutral" rating to a "buy" rating and cut their target price for the company from $48.00 to $40.00 in a research note on Tuesday, January 14th. Mizuho set a $23.00 target price on shares of Olin in a research note on Tuesday, April 15th. Piper Sandler lowered their price target on Olin from $33.00 to $26.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. Citigroup reduced their price objective on Olin from $34.00 to $30.00 and set a "buy" rating for the company in a research report on Thursday, March 27th. Finally, Wells Fargo & Company cut their target price on Olin from $25.00 to $19.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 9th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, Olin currently has a consensus rating of "Hold" and a consensus price target of $30.53.

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.