Olin Co. (NYSE:OLN) Shares Sold by Rhumbline Advisers

Rhumbline Advisers cut its stake in Olin Co. (NYSE:OLN - Free Report) by 8.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 298,000 shares of the specialty chemicals company's stock after selling 26,696 shares during the quarter. Rhumbline Advisers owned approximately 0.26% of Olin worth $7,223,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Fuller & Thaler Asset Management Inc. lifted 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 purchasing an additional 467,680 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Olin by 4.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,976,869 shares of the specialty chemicals company's stock valued at $134,413,000 after buying an additional 178,145 shares during the period. Pzena Investment Management LLC grew its position in Olin by 7.4% in the 4th quarter. Pzena Investment Management LLC now owns 3,709,611 shares of the specialty chemicals company's stock valued at $125,385,000 after acquiring an additional 256,903 shares in the last quarter. Millennium Management LLC increased its stake in Olin by 9.1% during the fourth quarter. Millennium Management LLC now owns 3,201,233 shares of the specialty chemicals company's stock worth $108,202,000 after purchasing an additional 265,745 shares during the period. Finally, Thrivent Financial for Lutherans grew its holdings 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 valued at $54,546,000 after purchasing an additional 1,586,192 shares in the last quarter. 88.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have issued reports on OLN shares. Wells Fargo & Company increased their price target on Olin from $19.00 to $22.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 6th. Truist Financial lowered their price target on shares of Olin from $25.00 to $24.00 and set a "hold" rating for the company in a report on Monday, May 5th. The Goldman Sachs Group reduced their price objective on shares of Olin from $33.00 to $25.00 and set a "neutral" rating on the stock in a report on Tuesday, May 6th. KeyCorp decreased their price objective on shares of Olin from $40.00 to $34.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. Finally, Piper Sandler dropped their target price on Olin from $33.00 to $26.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. One investment 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.com, the company presently has an average rating of "Hold" and an average price target of $27.80.

Olin Stock Performance

Shares of NYSE OLN traded down $0.71 during midday trading on Thursday, reaching $21.09. 1,838,809 shares of the company were exchanged, compared to its average volume of 1,673,716. Olin Co. has a 1 year low of $17.66 and a 1 year high of $51.77. The stock has a fifty day simple moving average of $20.73 and a 200 day simple 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 cap of $2.43 billion, a P/E ratio of 23.43 and a beta of 1.53.

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 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 the consensus estimate of $1.58 billion. Olin had a return on equity of 5.10% and a net margin of 1.66%. During the same period last year, the company earned $0.40 earnings per share. The company's revenue for the quarter was up 1.2% on a year-over-year basis. On average, research analysts forecast that Olin Co. will post 1.38 earnings per share for the current fiscal year.

Olin Dividend Announcement

The company also recently disclosed 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 of this dividend is Thursday, May 15th. This represents a $0.80 annualized dividend and a yield of 3.79%. Olin's dividend payout ratio is presently 156.86%.

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.