Voloridge Investment Management LLC Makes New $4.69 Million Investment in Olin Co. (NYSE:OLN)

Voloridge Investment Management LLC acquired a new position in Olin Co. (NYSE:OLN - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 138,821 shares of the specialty chemicals company's stock, valued at approximately $4,692,000. Voloridge Investment Management LLC owned approximately 0.12% of Olin as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. Covestor Ltd grew its stake in Olin by 45.8% in the 4th quarter. Covestor Ltd now owns 1,334 shares of the specialty chemicals company's stock valued at $45,000 after purchasing an additional 419 shares during the period. Spire Wealth Management grew its position in shares of Olin by 246.8% during the 4th quarter. Spire Wealth Management now owns 1,616 shares of the specialty chemicals company's stock valued at $55,000 after acquiring an additional 1,150 shares during the period. CoreFirst Bank & Trust bought a new position in shares of Olin during the 4th quarter valued at approximately $66,000. Jones Financial Companies Lllp grew its position in shares of Olin by 59.9% during the 4th quarter. Jones Financial Companies Lllp now owns 2,431 shares of the specialty chemicals company's stock valued at $82,000 after acquiring an additional 911 shares during the period. Finally, Blue Trust Inc. grew its position in shares of Olin by 34.3% during the 4th quarter. Blue Trust Inc. now owns 2,887 shares of the specialty chemicals company's stock valued at $98,000 after acquiring an additional 738 shares during the period. 88.67% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. BMO Capital Markets cut their price target on Olin from $44.00 to $34.00 and set a "market perform" rating for the company in a research note on Wednesday, February 5th. KeyCorp cut their price objective on shares of Olin from $40.00 to $34.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Barclays cut their price objective on shares of Olin from $28.00 to $24.00 and set an "equal weight" rating for the company in a report on Wednesday. Mizuho set a $23.00 price objective on shares of Olin in a report on Tuesday, April 15th. Finally, Citigroup cut their price target on Olin from $34.00 to $30.00 and set a "buy" rating for the company in a report on Thursday, March 27th. One 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 a consensus rating of "Hold" and a consensus price target of $27.80.

Olin Price Performance

Olin stock traded down $0.68 during mid-day trading on Friday, hitting $19.45. 1,353,551 shares of the company traded hands, compared to its average volume of 1,622,651. Olin Co. has a one year low of $17.66 and a one year high of $54.05. The stock has a market cap of $2.24 billion, a price-to-earnings ratio of 21.61 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. The stock has a fifty day moving average price of $21.34 and a 200-day moving average price of $28.69.

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

Olin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Thursday, May 15th will be given a $0.20 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $0.80 dividend on an annualized basis and a yield of 4.11%. 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.