Gotham Asset Management LLC Purchases Shares of 25,350 Olin Co. (NYSE:OLN)

Gotham Asset Management LLC acquired a new stake in Olin Co. (NYSE:OLN - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 25,350 shares of the specialty chemicals company's stock, valued at approximately $857,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Thrivent Financial for Lutherans increased its stake in shares of Olin by 5,746.2% in the 4th quarter. Thrivent Financial for Lutherans now owns 1,613,796 shares of the specialty chemicals company's stock valued at $54,546,000 after purchasing an additional 1,586,192 shares in the last quarter. Norges Bank purchased a new stake in Olin during the 4th quarter worth approximately $47,887,000. Fuller & Thaler Asset Management Inc. increased its stake in Olin by 11.5% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 4,543,844 shares of the specialty chemicals company's stock worth $153,582,000 after buying an additional 467,680 shares in the last quarter. Marshall Wace LLP increased its stake in Olin by 1,960.7% during the 4th quarter. Marshall Wace LLP now owns 344,962 shares of the specialty chemicals company's stock worth $11,660,000 after buying an additional 328,222 shares in the last quarter. Finally, Pzena Investment Management LLC increased its stake in Olin by 7.4% during the 4th 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 in the last quarter. Institutional investors and hedge funds own 88.67% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on OLN shares. The Goldman Sachs Group dropped their price target on Olin from $33.00 to $25.00 and set a "neutral" rating for the company in a research report on Tuesday, May 6th. Citigroup decreased their price objective on Olin from $34.00 to $30.00 and set a "buy" rating on the stock in a report on Thursday, March 27th. KeyCorp decreased their price objective on Olin from $40.00 to $34.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Wells Fargo & Company upped their price objective on Olin from $19.00 to $22.00 and gave the company an "equal weight" rating in a report on Tuesday, May 6th. Finally, Royal Bank of Canada decreased their price objective on Olin from $28.00 to $25.00 and set a "sector perform" rating on the stock in a report on Monday, May 5th. One research 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 MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $28.07.

Olin Stock Performance

NYSE:OLN traded down $0.15 during mid-day trading on Friday, reaching $19.38. The stock had a trading volume of 1,694,351 shares, compared to its average volume of 1,614,695. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.77 and a current ratio of 1.27. The firm has a market capitalization of $2.23 billion, a price-to-earnings ratio of 21.54 and a beta of 1.56. Olin Co. has a twelve month low of $17.66 and a twelve month high of $54.86. The business has a 50 day simple moving average of $21.75 and a 200 day simple moving average of $29.35.

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, 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 firm had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same period in the previous year, the firm posted $0.40 EPS. The company's quarterly revenue was up 1.2% compared to the same quarter last year. On average, analysts expect 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. Investors of record on Thursday, May 15th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $0.80 dividend on an annualized basis and a yield of 4.13%. Olin's dividend payout ratio (DPR) is 156.86%.

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.