Two Sigma Investments LP Has $15.24 Million Holdings in Olin Co. (NYSE:OLN)

Two Sigma Investments LP grew its stake in shares of Olin Co. (NYSE:OLN - Free Report) by 890.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 451,020 shares of the specialty chemicals company's stock after buying an additional 405,480 shares during the quarter. Two Sigma Investments LP owned about 0.39% of Olin worth $15,244,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Thrivent Financial for Lutherans grew its stake in shares of Olin by 5,746.2% in the 4th quarter. Thrivent Financial for Lutherans now owns 1,613,796 shares of the specialty chemicals company's stock worth $54,546,000 after purchasing an additional 1,586,192 shares during the last quarter. Norges Bank bought a new stake in Olin during the fourth quarter worth approximately $47,887,000. Fuller & Thaler Asset Management Inc. boosted its holdings in Olin by 11.5% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 4,543,844 shares of the specialty chemicals company's stock worth $153,582,000 after buying an additional 467,680 shares in the last quarter. Marshall Wace LLP boosted its holdings in Olin by 1,960.7% during 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 in the last quarter. Finally, Millennium Management LLC boosted its holdings 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 buying an additional 265,745 shares in the last quarter. 88.67% of the stock is currently owned by institutional investors.

Olin Stock Down 1.4%

Shares of NYSE:OLN traded down $0.28 during trading on Wednesday, reaching $20.12. 266,320 shares of the company traded hands, compared to its average volume of 1,613,796. The firm has a fifty day simple moving average of $21.55 and a 200 day simple moving average of $28.92. The firm has a market cap of $2.32 billion, a P/E ratio of 22.34 and a beta of 1.56. Olin Co. has a 1-year low of $17.66 and a 1-year high of $54.86. The company has a quick ratio of 0.77, a current ratio of 1.27 and a debt-to-equity ratio of 1.32.

Olin (NYSE:OLN - Get Free Report) last posted its earnings results on Thursday, May 1st. The specialty chemicals company reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.10) by $0.14. The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.40 earnings per share. Analysts anticipate that Olin Co. will post 1.38 earnings per share for the current fiscal year.

Olin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Thursday, May 15th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.98%. The ex-dividend date is Thursday, May 15th. Olin's dividend payout ratio is 156.86%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Wells Fargo & Company raised their target price on shares of Olin from $19.00 to $22.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 6th. Citigroup reduced their target price on shares of Olin from $34.00 to $30.00 and set a "buy" rating for the company in a report on Thursday, March 27th. KeyCorp dropped their target price on shares of Olin from $40.00 to $34.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. JPMorgan Chase & Co. dropped their target price on shares of Olin from $28.00 to $20.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 6th. Finally, BMO Capital Markets dropped their target price 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 investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $27.80.

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.