Gotham Asset Management LLC Takes Position in Olin Co. (NYSE:OLN)

Gotham Asset Management LLC bought a new position in shares of Olin Co. (NYSE:OLN - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 25,350 shares of the specialty chemicals company's stock, valued at approximately $857,000.

Other hedge funds have also modified their holdings of the company. Blue Trust Inc. boosted its stake 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 worth $98,000 after acquiring an additional 738 shares in the last quarter. KBC Group NV lifted 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 valued at $185,000 after buying an additional 2,476 shares in the last quarter. Mariner Investment Group LLC purchased a new position in Olin in the 4th quarter valued at about $355,000. LPL Financial LLC lifted its stake in Olin by 218.9% in the 4th 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 in the last quarter. Finally, Barclays PLC lifted its stake in Olin by 37.7% in the 3rd quarter. Barclays PLC now owns 125,913 shares of the specialty chemicals company's stock valued at $6,042,000 after buying an additional 34,485 shares in the last quarter. 88.67% of the stock is owned by hedge funds and other institutional investors.

Olin Trading Down 4.0%

Olin stock traded down $0.82 during mid-day trading on Wednesday, hitting $19.61. The company's stock had a trading volume of 1,555,262 shares, compared to its average volume of 1,606,312. Olin Co. has a 1 year low of $17.66 and a 1 year high of $56.56. The company has a current ratio of 1.27, a quick ratio of 0.77 and a debt-to-equity ratio of 1.32. The firm has a market capitalization of $2.26 billion, a PE ratio of 21.78 and a beta of 1.56. The stock's fifty day moving average is $22.08 and its two-hundred day moving average is $29.73.

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 analysts' consensus estimates 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 company's quarterly revenue was up 1.2% on a year-over-year basis. During the same period last year, the company earned $0.40 EPS. On average, analysts anticipate that Olin Co. will post 1.38 EPS for the current year.

Olin Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Thursday, May 15th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.08%. The ex-dividend date of this dividend is Thursday, May 15th. Olin's dividend payout ratio (DPR) is 156.86%.

Analysts Set New Price Targets

OLN has been the topic of a number of research reports. BMO Capital Markets decreased their price target on shares of Olin from $44.00 to $34.00 and set a "market perform" rating on the stock in a research note on Wednesday, February 5th. Citigroup decreased their price target on shares of Olin from $34.00 to $30.00 and set a "buy" rating on the stock in a research note on Thursday, March 27th. Mizuho set a $23.00 price target on shares of Olin in a research note on Tuesday, April 15th. Truist Financial decreased their price target on shares of Olin from $25.00 to $24.00 and set a "hold" rating on the stock in a research note on Monday, May 5th. Finally, KeyCorp cut their price objective on shares of Olin from $40.00 to $34.00 and set an "overweight" rating for the company in a report on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Olin has a consensus rating of "Hold" and a consensus price target of $28.07.

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.