Harbor Capital Advisors Inc. Acquires 105,404 Shares of Olin Co. (NYSE:OLN)

Harbor Capital Advisors Inc. increased its stake in shares of Olin Co. (NYSE:OLN - Free Report) by 73.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 248,466 shares of the specialty chemicals company's stock after buying an additional 105,404 shares during the quarter. Harbor Capital Advisors Inc. owned about 0.22% of Olin worth $6,023,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB increased its holdings in shares of Olin by 9.4% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 5,833 shares of the specialty chemicals company's stock worth $197,000 after acquiring an additional 500 shares during the period. Empowered Funds LLC raised its holdings in shares of Olin by 8.0% during the fourth quarter. Empowered Funds LLC now owns 22,131 shares of the specialty chemicals company's stock valued at $748,000 after buying an additional 1,633 shares during the last quarter. Vontobel Holding Ltd. acquired a new position in shares of Olin during the fourth quarter worth approximately $328,000. Rhumbline Advisers grew its holdings in Olin by 1.6% in the 4th quarter. Rhumbline Advisers now owns 324,696 shares of the specialty chemicals company's stock worth $10,975,000 after buying an additional 5,093 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D increased its position in Olin by 14.8% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 51,312 shares of the specialty chemicals company's stock valued at $1,734,000 after acquiring an additional 6,617 shares during the period. 88.67% of the stock is owned by institutional investors and hedge funds.

Olin Stock Down 3.1%

OLN traded down $0.68 on Thursday, reaching $21.12. 417,050 shares of the company traded hands, compared to its average volume of 1,665,263. The company has a market cap of $2.43 billion, a price-to-earnings ratio of 23.47 and a beta of 1.53. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.27 and a quick ratio of 0.77. The stock's 50 day moving average price is $20.73 and its 200-day moving average price is $27.36. Olin Co. has a 52-week low of $17.66 and a 52-week high of $52.17.

Olin (NYSE:OLN - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The specialty chemicals company reported $0.04 earnings per share for the quarter, topping analysts' consensus estimates of ($0.10) by $0.14. The company 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 business's quarterly revenue was up 1.2% on a year-over-year basis. During the same period last year, the business earned $0.40 EPS. On average, sell-side analysts expect that Olin Co. will post 1.38 EPS for the current fiscal year.

Olin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Thursday, May 15th will be issued a dividend of $0.20 per share. The ex-dividend date is Thursday, May 15th. This represents a $0.80 annualized dividend and a yield of 3.79%. Olin's dividend payout ratio (DPR) is currently 156.86%.

Analysts Set New Price Targets

OLN has been the subject of several recent analyst reports. Barclays decreased their price target on Olin from $28.00 to $24.00 and set an "equal weight" rating for the company in a research note on Wednesday, May 28th. JPMorgan Chase & Co. dropped their price target on shares of Olin from $28.00 to $20.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 6th. Piper Sandler lowered their price objective on shares of Olin from $33.00 to $26.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. UBS Group increased their price target on Olin from $21.00 to $22.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Finally, Morgan Stanley dropped their price objective on Olin from $28.00 to $20.00 and set an "underweight" rating on the stock in a research note on Monday, May 12th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $27.80.

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.