Olin Co. (NYSE:OLN) Shares Bought by Lighthouse Investment Partners LLC

Lighthouse Investment Partners LLC grew its holdings in shares of Olin Co. (NYSE:OLN - Free Report) by 24.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 75,000 shares of the specialty chemicals company's stock after buying an additional 14,771 shares during the quarter. Lighthouse Investment Partners LLC owned 0.06% of Olin worth $2,535,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Blue Trust Inc. grew its stake in shares of Olin by 34.3% during the fourth quarter. Blue Trust Inc. now owns 2,887 shares of the specialty chemicals company's stock valued at $98,000 after buying an additional 738 shares during the last quarter. KBC Group NV grew its stake in shares of 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 last quarter. Mariner Investment Group LLC bought a new position in shares of Olin during the fourth quarter valued at approximately $355,000. LPL Financial LLC grew its stake in shares of 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 last quarter. Finally, Barclays PLC grew its stake in shares of 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 last quarter. Institutional investors own 88.67% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Piper Sandler cut their target price on Olin from $33.00 to $26.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. UBS Group boosted their price target on Olin from $21.00 to $22.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Royal Bank of Canada lowered their price target on Olin from $28.00 to $25.00 and set a "sector perform" rating for the company in a report on Monday, May 5th. The Goldman Sachs Group lowered their price target on Olin from $33.00 to $25.00 and set a "neutral" rating for the company in a report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. lowered their price target on Olin from $28.00 to $20.00 and set a "neutral" rating for the company in a report on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Olin has a consensus rating of "Hold" and a consensus price target of $28.07.

Olin Stock Up 0.1%

Shares of OLN traded up $0.03 during midday trading on Friday, hitting $21.12. 1,340,640 shares of the company's stock traded hands, compared to its average volume of 1,603,102. Olin Co. has a 1 year low of $17.66 and a 1 year high of $56.98. The firm's fifty day moving average is $22.27 and its 200-day moving average is $30.22. The company has a current ratio of 1.27, a quick ratio of 0.77 and a debt-to-equity ratio of 1.32. The stock has a market capitalization of $2.43 billion, a price-to-earnings ratio of 23.47 and a beta of 1.56.

Olin (NYSE:OLN - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The specialty chemicals company reported $0.04 EPS 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 analyst estimates of $1.58 billion. During the same quarter in the prior year, the business posted $0.40 EPS. The business's revenue for the quarter was up 1.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Olin Co. will post 1.38 earnings per share for the current 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. This represents a $0.80 annualized dividend and a dividend yield of 3.79%. The ex-dividend date of this dividend is Thursday, May 15th. Olin's 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.