Crestline Management LP Buys Shares of 24,303 Olin Co. (NYSE:OLN)

Crestline Management LP acquired a new position in shares of Olin Co. (NYSE:OLN - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 24,303 shares of the specialty chemicals company's stock, valued at approximately $821,000.

Other institutional investors have also recently made changes to their positions in the company. Blue Trust Inc. lifted its position in shares of Olin by 34.3% during the fourth quarter. Blue Trust Inc. now owns 2,887 shares of the specialty chemicals company's stock worth $98,000 after acquiring an additional 738 shares in the last quarter. Harbor Capital Advisors Inc. lifted its holdings in Olin by 55.5% during the 4th quarter. Harbor Capital Advisors Inc. now owns 143,062 shares of the specialty chemicals company's stock worth $4,835,000 after purchasing an additional 51,051 shares in the last quarter. KBC Group NV boosted its stake in Olin by 82.9% in the 4th quarter. KBC Group NV now owns 5,461 shares of the specialty chemicals company's stock worth $185,000 after purchasing an additional 2,476 shares during the period. Mariner Investment Group LLC purchased a new position in Olin during the 4th quarter valued at about $355,000. Finally, LPL Financial LLC increased its position in shares of Olin by 218.9% during the fourth quarter. LPL Financial LLC now owns 138,477 shares of the specialty chemicals company's stock valued at $4,681,000 after buying an additional 95,054 shares during the period. Institutional investors own 88.67% of the company's stock.

Olin Trading Down 1.7%

Shares of Olin stock traded down $0.39 on Tuesday, hitting $22.47. The stock had a trading volume of 1,567,439 shares, compared to its average volume of 1,591,380. The stock's 50-day simple moving average is $22.42 and its two-hundred day simple moving average is $30.48. Olin Co. has a one year low of $17.66 and a one year 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 stock has a market cap of $2.59 billion, a price-to-earnings ratio of 24.97 and a beta of 1.56.

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 for the quarter, topping 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 EPS. The business's revenue was up 1.2% on a year-over-year basis. As a group, sell-side analysts predict that Olin Co. will post 1.38 EPS for the current year.

Olin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Thursday, May 15th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date of this dividend is Thursday, May 15th. Olin's dividend payout ratio (DPR) is presently 156.86%.

Analysts Set New Price Targets

OLN has been the subject of several recent analyst reports. Barclays reduced their price objective on shares of Olin from $34.00 to $28.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 1st. BMO Capital Markets lowered their price objective on Olin from $44.00 to $34.00 and set a "market perform" rating on the stock in a research report on Wednesday, February 5th. Morgan Stanley dropped their price objective on Olin from $28.00 to $20.00 and set an "underweight" rating for the company in a research note on Monday. Royal Bank of Canada lowered their price target on Olin from $28.00 to $25.00 and set a "sector perform" rating on the stock in a report on Monday, May 5th. Finally, Citigroup decreased their price objective on shares of Olin from $34.00 to $30.00 and set a "buy" rating on the stock in a research report on Thursday, March 27th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $28.07.

About Olin

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.