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

Harbor Capital Advisors Inc. lifted its stake in shares of Olin Co. (NYSE:OLN - Free Report) by 73.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 248,466 shares of the specialty chemicals company's stock after acquiring an additional 105,404 shares during the quarter. Harbor Capital Advisors Inc. owned 0.22% of Olin worth $6,023,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of OLN. LPL Financial LLC boosted its position in shares of 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 purchasing an additional 95,054 shares during the period. Bank of New York Mellon Corp lifted its stake in Olin by 8.1% during the fourth quarter. Bank of New York Mellon Corp now owns 1,305,521 shares of the specialty chemicals company's stock valued at $44,127,000 after buying an additional 97,980 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of Olin by 1.6% in the fourth 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 during the period. Empowered Funds LLC increased its position in shares of Olin by 8.0% in the fourth quarter. Empowered Funds LLC now owns 22,131 shares of the specialty chemicals company's stock worth $748,000 after acquiring an additional 1,633 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Olin during the fourth quarter valued at approximately $6,779,000. 88.67% of the stock is owned by institutional investors.

Olin Stock Down 3.3%

Shares of Olin stock traded down $0.69 during midday trading on Friday, reaching $20.36. 1,520,874 shares of the company's stock traded hands, compared to its average volume of 1,679,255. Olin Co. has a 52 week low of $17.66 and a 52 week high of $50.75. The company's 50 day simple moving average is $20.82 and its 200 day simple moving average is $27.05. The company has a market cap of $2.34 billion, a price-to-earnings ratio of 22.62 and a beta of 1.53. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.77 and a current ratio of 1.27.

Olin (NYSE:OLN - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The specialty chemicals company reported $0.04 EPS for the quarter, beating 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 company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter last year, the company posted $0.40 earnings per share. The company's revenue for the quarter was up 1.2% compared to the same quarter last year. Equities analysts expect that Olin Co. will post 1.38 earnings per share for the current fiscal year.

Olin Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Thursday, May 15th were issued a $0.20 dividend. The ex-dividend date was Thursday, May 15th. This represents a $0.80 annualized dividend and a yield of 3.93%. Olin's dividend payout ratio (DPR) is presently 156.86%.

Analysts Set New Price Targets

A number of research firms recently commented on OLN. Royal Bank of Canada decreased their price objective on shares of Olin from $28.00 to $25.00 and set a "sector perform" rating for the company in a research note on Monday, May 5th. Wells Fargo & Company lifted their price target on Olin from $19.00 to $22.00 and gave the company an "equal weight" rating in a report on Tuesday, May 6th. Wall Street Zen raised Olin from a "sell" rating to a "hold" rating in a research note on Saturday. Truist Financial decreased their price objective on Olin from $25.00 to $24.00 and set a "hold" rating for the company in a research report on Monday, May 5th. Finally, KeyCorp dropped their target price on Olin from $40.00 to $34.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $27.80.

Olin 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.