Wedge Capital Management L L P NC Buys 21,767 Shares of Olin Co. (NYSE:OLN)

Wedge Capital Management L L P NC boosted its holdings in shares of Olin Co. (NYSE:OLN - Free Report) by 36.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 80,901 shares of the specialty chemicals company's stock after buying an additional 21,767 shares during the period. Wedge Capital Management L L P NC owned approximately 0.07% of Olin worth $1,961,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of OLN. LPL Financial LLC raised its holdings 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 worth $4,681,000 after acquiring an additional 95,054 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Olin by 8.1% during the 4th quarter. Bank of New York Mellon Corp now owns 1,305,521 shares of the specialty chemicals company's stock worth $44,127,000 after purchasing an additional 97,980 shares in the last quarter. Rhumbline Advisers raised its stake 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 purchasing an additional 5,093 shares during the last quarter. Empowered Funds LLC lifted its holdings 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 valued at $748,000 after purchasing an additional 1,633 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Olin during the fourth quarter valued at approximately $6,779,000. Institutional investors and hedge funds own 88.67% of the company's stock.

Analysts Set New Price Targets

OLN has been the topic of a number of research analyst reports. The Goldman Sachs Group cut their target price on Olin from $33.00 to $25.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 6th. KeyCorp reduced their price objective on Olin from $40.00 to $34.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. JPMorgan Chase & Co. decreased their target price on Olin from $28.00 to $20.00 and set a "neutral" rating for the company in a research report on Tuesday, May 6th. Mizuho set a $23.00 price target on shares of Olin in a report on Tuesday, April 15th. Finally, Barclays reduced their price target on shares of Olin from $28.00 to $24.00 and set an "equal weight" rating for the company in a research report on Wednesday, May 28th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Olin has a consensus rating of "Hold" and a consensus price target of $27.80.

Olin Price Performance

Shares of NYSE:OLN traded down $0.72 during trading on Thursday, reaching $21.08. The company had a trading volume of 374,758 shares, compared to its average volume of 1,665,067. The company has a fifty day moving average of $20.73 and a two-hundred day moving average of $27.36. The company has a current ratio of 1.27, a quick ratio of 0.77 and a debt-to-equity ratio of 1.32. The stock has a market capitalization of $2.43 billion, a P/E ratio of 23.42 and a beta of 1.53. Olin Co. has a 12 month low of $17.66 and a 12 month high of $52.17.

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

Olin Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.80%. Olin's payout ratio is 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.