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

Voloridge Investment Management LLC purchased a new stake in shares of Olin Co. (NYSE:OLN - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 138,821 shares of the specialty chemicals company's stock, valued at approximately $4,692,000. Voloridge Investment Management LLC owned 0.12% of Olin at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of OLN. Thrivent Financial for Lutherans boosted its holdings in Olin by 5,746.2% during 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 acquiring an additional 1,586,192 shares during the period. Norges Bank bought a new stake in Olin during the fourth quarter valued at about $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 valued at $153,582,000 after acquiring an additional 467,680 shares during the period. Two Sigma Investments LP boosted its holdings in Olin by 890.4% during the fourth quarter. Two Sigma Investments LP now owns 451,020 shares of the specialty chemicals company's stock valued at $15,244,000 after acquiring an additional 405,480 shares during the period. Finally, 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 valued at $11,660,000 after acquiring an additional 328,222 shares during the period. 88.67% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Olin Price Performance

Shares of OLN traded down $0.71 during mid-day trading on Friday, reaching $19.42. The company had a trading volume of 3,337,674 shares, compared to its average volume of 1,635,875. Olin Co. has a twelve month low of $17.66 and a twelve month high of $54.05. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.27 and a quick ratio of 0.77. The company's 50-day moving average is $21.23 and its 200-day moving average is $28.43. The company has a market capitalization of $2.24 billion, a P/E ratio of 21.58 and a beta of 1.56.

Olin (NYSE:OLN - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The specialty chemicals company reported $0.04 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $1.58 billion. During the same period in the prior year, the business posted $0.40 earnings per share. The business's revenue was up 1.2% compared to the same quarter last year. On average, equities analysts anticipate that Olin Co. will post 1.38 EPS for the current year.

Olin Announces Dividend

The company also recently announced 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. This represents a $0.80 annualized dividend and a dividend yield of 4.12%. The ex-dividend date is Thursday, May 15th. Olin's payout ratio is 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.