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

Man Group plc increased its holdings in Olin Co. (NYSE:OLN - Free Report) by 16.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. 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 approximately 0.39% of Olin worth $15,423,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Blue Trust Inc. lifted its position in shares of Olin by 34.3% in the fourth quarter. Blue Trust Inc. now owns 2,887 shares of the specialty chemicals company's stock worth $98,000 after buying an additional 738 shares during the last quarter. KBC Group NV raised its stake in shares of 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 acquiring an additional 2,476 shares in the last quarter. Mariner Investment Group LLC acquired a new stake in Olin in the 4th quarter worth approximately $355,000. LPL Financial LLC boosted its position in Olin by 218.9% during the fourth quarter. LPL Financial LLC now owns 138,477 shares of the specialty chemicals company's stock worth $4,681,000 after purchasing an additional 95,054 shares during the period. Finally, Barclays PLC grew its holdings in Olin by 37.7% during the third quarter. Barclays PLC now owns 125,913 shares of the specialty chemicals company's stock valued at $6,042,000 after purchasing an additional 34,485 shares during the last quarter. 88.67% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on OLN. Mizuho set a $23.00 price objective on shares of Olin in a research note on Tuesday, April 15th. Royal Bank of Canada cut 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 report on Monday, May 5th. BMO Capital Markets lowered their price target on Olin from $44.00 to $34.00 and set a "market perform" rating on the stock in a research report on Wednesday, February 5th. 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. Finally, KeyCorp decreased their target price on Olin from $40.00 to $34.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. One equities 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 company. Based on data from MarketBeat, Olin presently has an average rating of "Hold" and a consensus target price of $28.07.

Olin Stock Performance

Shares of NYSE:OLN traded down $0.05 during trading on Friday, hitting $19.48. 664,166 shares of the stock were exchanged, compared to its average volume of 1,609,126. The company has a market capitalization of $2.24 billion, a price-to-earnings ratio of 21.73 and a beta of 1.56. 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 Co. has a 1-year low of $17.66 and a 1-year high of $54.86. The company's fifty day simple moving average is $21.87 and its 200-day simple moving average is $29.50.

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

Olin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Thursday, May 15th will be paid a $0.20 dividend. The ex-dividend date is Thursday, May 15th. This represents a $0.80 dividend on an annualized basis and a yield of 4.11%. Olin's payout ratio is currently 156.86%.

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.