Aristeia Capital L.L.C. Purchases Shares of 12,411 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 (SEC). The institutional investor bought 12,411 shares of the specialty chemicals company's stock, valued at approximately $419,000.

A number of other institutional investors have also recently made changes to their positions in OLN. Covestor Ltd lifted its position in Olin by 45.8% during the fourth 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 during the period. Spire Wealth Management boosted its holdings 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 buying an additional 1,150 shares during the period. CoreFirst Bank & Trust bought a new stake in Olin during the 4th quarter valued at approximately $66,000. Jones Financial Companies Lllp lifted its holdings in shares of Olin by 59.9% in the fourth quarter. Jones Financial Companies Lllp now owns 2,431 shares of the specialty chemicals company's stock worth $82,000 after buying an additional 911 shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings in shares of Olin by 34.3% during the 4th quarter. Blue Trust Inc. now owns 2,887 shares of the specialty chemicals company's stock valued at $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 Trading Up 5.0 %

Shares of Olin stock traded up $1.02 during mid-day trading on Thursday, hitting $21.41. The stock had a trading volume of 651,514 shares, compared to its average volume of 1,574,289. Olin Co. has a 12-month low of $17.66 and a 12-month high of $57.10. 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 cap of $2.46 billion, a P/E ratio of 23.79 and a beta of 1.56. The firm has a 50-day moving average of $22.57 and a two-hundred day moving average of $31.14.

Olin (NYSE:OLN - Get Free Report) last released its quarterly earnings results 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. The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.58 billion. Olin had a net margin of 1.66% and a return on equity of 5.10%. The business's revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.40 EPS. Sell-side analysts forecast that Olin Co. will post 1.38 earnings per share for the current year.

Olin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Thursday, May 15th will be paid a dividend of $0.20 per share. The ex-dividend date is Thursday, May 15th. This represents a $0.80 dividend on an annualized basis and a yield of 3.74%. Olin's dividend payout ratio (DPR) is presently 156.86%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on OLN shares. Truist Financial cut their target price on shares of Olin from $25.00 to $24.00 and set a "hold" rating for the company in a report on Monday. Wells Fargo & Company lifted their target price on Olin from $19.00 to $22.00 and gave the stock an "equal weight" rating in a research report on Tuesday. Bank of America upgraded Olin from a "neutral" rating to a "buy" rating and reduced their price objective for the stock from $48.00 to $40.00 in a report on Tuesday, January 14th. Morgan Stanley dropped their price objective on shares of Olin from $31.00 to $28.00 and set an "underweight" rating on the stock in a research note on Tuesday, February 4th. Finally, The Goldman Sachs Group decreased 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. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $28.60.

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.