Man Group plc Purchases 64,476 Shares of Olin Co. (NYSE:OLN)

Man Group plc lifted its holdings in shares of Olin Co. (NYSE:OLN - Free Report) by 16.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 456,307 shares of the specialty chemicals company's stock after purchasing an additional 64,476 shares during the period. Man Group plc owned about 0.39% of Olin worth $15,423,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans boosted its position in shares of Olin by 5,746.2% in the fourth quarter. Thrivent Financial for Lutherans now owns 1,613,796 shares of the specialty chemicals company's stock worth $54,546,000 after acquiring an additional 1,586,192 shares during the last quarter. Norges Bank purchased a new stake in Olin during the fourth quarter worth approximately $47,887,000. Fuller & Thaler Asset Management Inc. raised its stake in shares of Olin by 11.5% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 4,543,844 shares of the specialty chemicals company's stock valued at $153,582,000 after acquiring an additional 467,680 shares during the period. Marshall Wace LLP boosted its position in shares of Olin by 1,960.7% in the fourth 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 during the period. Finally, Millennium Management LLC raised its stake in shares of Olin by 9.1% during the fourth quarter. Millennium Management LLC now owns 3,201,233 shares of the specialty chemicals company's stock valued at $108,202,000 after purchasing an additional 265,745 shares during the period. Hedge funds and other institutional investors own 88.67% of the company's stock.

Olin Stock Performance

Shares of NYSE OLN traded down $0.82 during midday trading on Wednesday, hitting $19.61. 1,555,262 shares of the company's stock were exchanged, compared to its average volume of 1,606,312. The firm has a market cap of $2.26 billion, a P/E ratio of 21.78 and a beta of 1.56. The stock's 50 day moving average price is $22.08 and its 200-day moving average price is $29.73. Olin Co. has a twelve month low of $17.66 and a twelve month high of $56.56. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.27 and a quick ratio of 0.77.

Olin (NYSE:OLN - Get Free Report) last issued its earnings results on Thursday, May 1st. The specialty chemicals company reported $0.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.10) by $0.14. The company had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.58 billion. Olin had a net margin of 1.66% and a return on equity of 5.10%. The company's revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter last year, the business posted $0.40 EPS. Equities research analysts anticipate that Olin Co. will post 1.38 EPS for the current year.

Olin Dividend Announcement

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

Analysts Set New Price Targets

OLN has been the subject of several research analyst reports. JPMorgan Chase & Co. reduced their target price on Olin from $28.00 to $20.00 and set a "neutral" rating for the company in a research note on Tuesday, May 6th. Piper Sandler dropped their price target on Olin from $33.00 to $26.00 and set a "neutral" rating on the stock in a research report on Monday, April 7th. Morgan Stanley reduced 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. Royal Bank of Canada lowered their target price 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. Finally, BMO Capital Markets reduced 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 report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Olin presently has an average rating of "Hold" and an average target price 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.