Marshall Wace LLP Purchases 328,222 Shares of Olin Co. (NYSE:OLN)

Marshall Wace LLP raised its stake in Olin Co. (NYSE:OLN - Free Report) by 1,960.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 344,962 shares of the specialty chemicals company's stock after purchasing an additional 328,222 shares during the quarter. Marshall Wace LLP owned 0.30% of Olin worth $11,660,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Guggenheim Capital LLC lifted its stake in Olin by 8.0% during the 4th quarter. Guggenheim Capital LLC now owns 21,241 shares of the specialty chemicals company's stock valued at $718,000 after acquiring an additional 1,572 shares in the last quarter. Sterling Capital Management LLC boosted its holdings in Olin by 54.8% during the fourth quarter. Sterling Capital Management LLC now owns 7,048 shares of the specialty chemicals company's stock worth $238,000 after purchasing an additional 2,495 shares during the last quarter. Covestor Ltd grew its position in Olin by 45.8% in the 4th quarter. Covestor Ltd now owns 1,334 shares of the specialty chemicals company's stock worth $45,000 after purchasing an additional 419 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Olin in the 4th quarter valued at about $6,779,000. Finally, Invesco Ltd. lifted its position in shares of Olin by 19.3% during the 4th quarter. Invesco Ltd. now owns 398,057 shares of the specialty chemicals company's stock worth $13,454,000 after buying an additional 64,449 shares in the last quarter. Institutional investors own 88.67% of the company's stock.

Insider Buying and Selling

In related news, CEO Kenneth Todd Lane bought 7,250 shares of the stock in a transaction dated Tuesday, February 4th. The stock was bought at an average price of $28.06 per share, with a total value of $203,435.00. Following the purchase, the chief executive officer now owns 7,250 shares in the company, valued at approximately $203,435. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 1.60% of the stock is owned by corporate insiders.

Olin Price Performance

Shares of Olin stock traded down $0.24 on Friday, hitting $21.99. 1,098,434 shares of the company traded hands, compared to its average volume of 1,545,528. Olin Co. has a 12-month low of $17.66 and a 12-month high of $57.10. 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 company has a market cap of $2.53 billion, a P/E ratio of 24.43 and a beta of 1.50. The firm's 50-day simple moving average is $23.37 and its 200 day simple moving average is $32.36.

Olin (NYSE:OLN - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.10. Olin had a return on equity of 5.10% and a net margin of 1.66%. Analysts expect that Olin Co. 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, March 14th. Investors of record on Thursday, March 6th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.64%. The ex-dividend date of this dividend was Thursday, March 6th. Olin's dividend payout ratio is currently 88.89%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Barclays reduced their target price on shares of Olin from $34.00 to $28.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 1st. Truist Financial dropped their price target on Olin from $32.00 to $25.00 and set a "hold" rating on the stock in a research report on Monday, April 14th. KeyCorp decreased their price objective on Olin from $40.00 to $34.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Piper Sandler reduced their target price on shares of Olin from $33.00 to $26.00 and set a "neutral" rating for the company in a research note on Monday, April 7th. Finally, Mizuho set a $23.00 price target on shares of Olin in a research note on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $33.25.

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.