Nomura Holdings Inc. Makes New Investment in Olin Co. (NYSE:OLN)

Nomura Holdings Inc. acquired 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 firm acquired 26,655 shares of the specialty chemicals company's stock, valued at approximately $901,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of OLN. Covestor Ltd boosted its holdings in shares of Olin by 45.8% in the fourth quarter. Covestor Ltd now owns 1,334 shares of the specialty chemicals company's stock valued at $45,000 after acquiring an additional 419 shares in the last quarter. Spire Wealth Management boosted its stake in shares of Olin by 246.8% in the fourth quarter. Spire Wealth Management now owns 1,616 shares of the specialty chemicals company's stock valued at $55,000 after buying an additional 1,150 shares in the last quarter. CoreFirst Bank & Trust purchased a new stake in shares of Olin in the fourth quarter valued at approximately $66,000. Jones Financial Companies Lllp boosted its stake in shares of Olin by 59.9% in the fourth quarter. Jones Financial Companies Lllp now owns 2,431 shares of the specialty chemicals company's stock valued at $82,000 after buying an additional 911 shares in the last quarter. Finally, Blue Trust Inc. boosted its stake 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 valued at $98,000 after buying an additional 738 shares in the last quarter. 88.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Mizuho set a $23.00 price objective on shares of Olin in a report on Tuesday, April 15th. KeyCorp decreased their target price on Olin from $40.00 to $34.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Morgan Stanley decreased their target price on Olin from $28.00 to $20.00 and set an "underweight" rating on the stock in a research report on Monday, May 12th. Truist Financial decreased their target price on Olin from $25.00 to $24.00 and set a "hold" rating on the stock in a research report on Monday, May 5th. Finally, BMO Capital Markets decreased their target price 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. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $28.07.

Olin Trading Down 0.3%

NYSE OLN traded down $0.06 during trading hours on Thursday, hitting $19.53. 1,221,001 shares of the company's stock were exchanged, compared to its average volume of 1,611,916. The business's 50 day moving average is $21.98 and its 200-day moving average is $29.66. Olin Co. has a 12-month low of $17.66 and a 12-month high of $54.86. The firm has a market capitalization of $2.25 billion, a P/E ratio of 21.70 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 (NYSE:OLN - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The specialty chemicals company reported $0.04 EPS for the quarter, topping analysts' consensus estimates 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 period last year, the business posted $0.40 EPS. The company's quarterly revenue was up 1.2% compared to the same quarter last year. As a group, analysts anticipate 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. Investors 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 dividend yield of 4.10%. 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.