Yacktman Asset Management LP Acquires 122,247 Shares of Olin Corporation (NYSE:OLN)

Yacktman Asset Management LP grew its holdings in Olin Corporation (NYSE:OLN - Free Report) by 3.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,020,243 shares of the specialty chemicals company's stock after acquiring an additional 122,247 shares during the period. Yacktman Asset Management LP owned about 3.49% of Olin worth $97,451,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Fifth Third Bancorp lifted its position in shares of Olin by 160.5% in the first quarter. Fifth Third Bancorp now owns 1,206 shares of the specialty chemicals company's stock valued at $29,000 after acquiring an additional 743 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Olin in the first quarter valued at about $31,000. Covestor Ltd lifted its position in shares of Olin by 45.8% in the fourth quarter. Covestor Ltd now owns 1,334 shares of the specialty chemicals company's stock valued at $45,000 after acquiring an additional 419 shares in the last quarter. Farther Finance Advisors LLC lifted its position in shares of Olin by 183.8% in the first quarter. Farther Finance Advisors LLC now owns 2,645 shares of the specialty chemicals company's stock valued at $63,000 after acquiring an additional 1,713 shares in the last quarter. Finally, CoreFirst Bank & Trust purchased a new position in shares of Olin in the fourth quarter valued at about $66,000. 88.67% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Wall Street Zen downgraded Olin from a "hold" rating to a "sell" rating in a research report on Friday, June 27th. Piper Sandler decreased their target price on Olin from $33.00 to $26.00 and set a "neutral" rating on the stock in a research report on Monday, April 7th. Mizuho set a $23.00 target price on Olin in a research report on Tuesday, April 15th. Wells Fargo & Company boosted their target price on Olin from $19.00 to $22.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 6th. Finally, Barclays decreased their target price on Olin from $28.00 to $24.00 and set an "equal weight" rating on the stock in a research report on Wednesday, May 28th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $27.40.

Olin Trading Down 3.3%

Shares of OLN traded down $0.74 during mid-day trading on Friday, reaching $21.90. 2,319,524 shares of the company's stock traded hands, compared to its average volume of 1,730,057. The stock has a market cap of $2.52 billion, a P/E ratio of 42.94 and a beta of 1.52. The stock's 50-day moving average is $20.68 and its two-hundred day moving average is $24.54. Olin Corporation has a 12 month low of $17.66 and a 12 month high of $50.75. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.56 and a quick ratio of 0.96.

Olin (NYSE:OLN - Get Free Report) last released its earnings results on Thursday, May 1st. The specialty chemicals company reported $0.04 EPS for the quarter, beating analysts' consensus estimates of ($0.10) by $0.14. The firm had revenue of $1.64 billion for the quarter, compared to analysts' expectations of $1.58 billion. Olin had a return on equity of 3.13% and a net margin of 0.94%. The company's quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.40 earnings per share. Research analysts forecast that Olin Corporation will post 1.38 earnings per share for the current fiscal year.

Olin Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Thursday, May 15th were paid a dividend of $0.20 per share. The ex-dividend date was Thursday, May 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.65%. Olin's dividend payout ratio is 156.86%.

About Olin

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.