222,300 Shares in Olin Co. (NYSE:OLN) Purchased by Two Sigma Advisers LP

Two Sigma Advisers LP purchased a new position in Olin Co. (NYSE:OLN - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 222,300 shares of the specialty chemicals company's stock, valued at approximately $7,514,000. Two Sigma Advisers LP owned 0.19% of Olin as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its stake in 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 acquiring an additional 738 shares during the period. KBC Group NV lifted its position in Olin by 82.9% during the fourth quarter. KBC Group NV now owns 5,461 shares of the specialty chemicals company's stock valued at $185,000 after buying an additional 2,476 shares during the period. Mariner Investment Group LLC purchased a new position in Olin during the fourth quarter valued at $355,000. LPL Financial LLC lifted 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 valued at $4,681,000 after buying an additional 95,054 shares during the period. Finally, Barclays PLC lifted its position 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 buying an additional 34,485 shares during the period. Hedge funds and other institutional investors own 88.67% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on OLN. The Goldman Sachs Group lowered their price objective on Olin from $33.00 to $25.00 and set a "neutral" rating for the company in a research report on Tuesday, May 6th. JPMorgan Chase & Co. lowered their price objective on Olin from $28.00 to $20.00 and set a "neutral" rating for the company in a research report on Tuesday, May 6th. Piper Sandler lowered their price objective on Olin from $33.00 to $26.00 and set a "neutral" rating for the company in a research report on Monday, April 7th. Truist Financial lowered their price objective on Olin from $25.00 to $24.00 and set a "hold" rating for the company in a research report on Monday, May 5th. Finally, BMO Capital Markets lowered their price objective on Olin from $44.00 to $34.00 and set a "market perform" rating for the company in a research report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $27.80.

Olin Stock Up 0.9%

Shares of NYSE:OLN traded up $0.19 on Thursday, hitting $20.07. 304,762 shares of the company traded hands, compared to its average volume of 1,616,622. Olin Co. has a 52 week low of $17.66 and a 52 week high of $54.05. The company has a quick ratio of 0.77, a current ratio of 1.27 and a debt-to-equity ratio of 1.32. The stock has a 50 day simple moving average of $21.45 and a 200-day simple moving average of $28.86. The company has a market cap of $2.31 billion, a PE ratio of 22.27 and a beta of 1.56.

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, beating the consensus estimate of ($0.10) by $0.14. Olin had a return on equity of 5.10% and a net margin of 1.66%. The firm had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same period last year, the company earned $0.40 earnings per share. The company's revenue was up 1.2% on a year-over-year basis. As a group, research analysts expect that Olin Co. will post 1.38 earnings per share for the current year.

Olin Dividend Announcement

The firm 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 $0.20 dividend. The ex-dividend date is Thursday, May 15th. This represents a $0.80 annualized dividend and a yield of 3.99%. 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.