Dimensional Fund Advisors LP Boosts Stake in Olin Corporation $OLN

Key Points

• Dimensional Fund Advisors LP increased its stake in Olin Corporation by 22.4% in the first quarter, ending with 5.63 million shares valued at about $167.3 million and representing roughly 4.94% ownership.
• Several other institutional investors also raised their holdings, and 88.67% of Olin’s stock is owned by institutions and hedge funds.
• Wall Street sentiment remains cautious: analysts have been cutting price targets, and Olin currently carries a consensus “Hold” rating with an average price target of $26.46.

Dimensional Fund Advisors LP raised its stake in Olin Corporation (NYSE:OLN - Free Report) by 22.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,627,997 shares of the specialty chemicals company's stock after buying an additional 1,031,498 shares during the quarter. Dimensional Fund Advisors LP owned about 4.94% of Olin worth $167,311,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Royal Bank of Canada lifted its stake in Olin by 20.2% during the first quarter. Royal Bank of Canada now owns 85,198 shares of the specialty chemicals company's stock worth $2,066,000 after purchasing an additional 14,344 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Olin in the first quarter valued at $32,000. Jones Financial Companies Lllp grew its stake in shares of Olin by 467.9% in the first quarter. Jones Financial Companies Lllp now owns 13,805 shares of the specialty chemicals company's stock valued at $335,000 after buying an additional 11,374 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Olin by 57.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 588,602 shares of the specialty chemicals company's stock valued at $14,268,000 after buying an additional 215,235 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Olin by 6.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 317,472 shares of the specialty chemicals company's stock valued at $7,696,000 after buying an additional 20,047 shares during the period. 88.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

OLN has been the topic of several research reports. BMO Capital Markets reduced their price target on shares of Olin from $30.00 to $25.00 and set a "market perform" rating on the stock in a research report on Monday, July 6th. The Goldman Sachs Group dropped their price objective on shares of Olin from $31.00 to $24.00 and set a "neutral" rating for the company in a report on Thursday, July 16th. JPMorgan Chase & Co. cut their target price on shares of Olin from $26.00 to $25.00 and set a "neutral" rating on the stock in a research note on Thursday, June 18th. Zacks Research upgraded shares of Olin from a "strong sell" rating to a "hold" rating in a report on Monday, April 13th. Finally, Citigroup cut shares of Olin from a "neutral" rating to an "underperform" rating in a research report on Tuesday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, nine have assigned a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, Olin has a consensus rating of "Hold" and a consensus target price of $26.46.

Olin Price Performance

Shares of OLN opened at $23.21 on Friday. The firm has a market capitalization of $2.64 billion, a price-to-earnings ratio of -20.73 and a beta of 1.21. The firm's fifty day simple moving average is $23.23 and its 200-day simple moving average is $24.79. Olin Corporation has a twelve month low of $18.08 and a twelve month high of $30.46. The company has a current ratio of 1.36, a quick ratio of 0.82 and a debt-to-equity ratio of 1.73.

Olin Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Thursday, May 14th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Thursday, May 14th. Olin's dividend payout ratio is -71.43%.

Olin Profile

Olin Corporation is a diversified manufacturer specializing in chemical products and ammunition. The company's core business activities encompass the production and distribution of chlor-alkali products, epoxy resins and derivatives, and small-caliber ammunition under the Winchester brand. Olin's chemical operations supply chlorine, caustic soda and related co-products to a wide range of end markets, including water treatment, pulp and paper, pharmaceuticals and general industrial applications.

In its Chlor Alkali Products & Vinyls segment, Olin operates multiple manufacturing facilities that produce chlorine and sodium hydroxide, along with vinyl chloride monomer and polyvinyl chloride (PVC) compounds.

Want to see what other hedge funds are holding OLN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Olin Corporation (NYSE:OLN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.