Northern Trust Corp Purchases 159,667 Shares of Olin Co. (NYSE:OLN)

Northern Trust Corp increased its holdings in Olin Co. (NYSE:OLN - Free Report) by 16.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,126,237 shares of the specialty chemicals company's stock after buying an additional 159,667 shares during the period. Northern Trust Corp owned 0.97% of Olin worth $38,067,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in OLN. Barclays PLC lifted its position in shares of Olin by 37.7% during the 3rd quarter. Barclays PLC now owns 125,913 shares of the specialty chemicals company's stock worth $6,042,000 after buying an additional 34,485 shares during the last quarter. First Hawaiian Bank grew its holdings in shares of Olin by 9.0% during the fourth quarter. First Hawaiian Bank now owns 21,642 shares of the specialty chemicals company's stock worth $732,000 after purchasing an additional 1,785 shares during the last quarter. Harbor Capital Advisors Inc. increased its stake in shares of Olin by 55.5% in the fourth quarter. Harbor Capital Advisors Inc. now owns 143,062 shares of the specialty chemicals company's stock valued at $4,835,000 after buying an additional 51,051 shares during the period. Wedmont Private Capital bought a new position in Olin in the 4th quarter valued at approximately $231,000. Finally, Assenagon Asset Management S.A. acquired a new stake in Olin during the 4th quarter worth approximately $4,264,000. 88.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on OLN. UBS Group raised their price target on shares of Olin from $21.00 to $22.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. KeyCorp lowered their target price on Olin from $40.00 to $34.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. Bank of America upgraded Olin from a "neutral" rating to a "buy" rating and reduced their price target for the company from $48.00 to $40.00 in a research report on Tuesday, January 14th. Piper Sandler lowered their price objective on Olin from $33.00 to $26.00 and set a "neutral" rating for the company in a research report on Monday, April 7th. Finally, Royal Bank of Canada reduced their target price on Olin from $28.00 to $25.00 and set a "sector perform" rating on the stock in a report on Monday, May 5th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $28.60.

Olin Stock Performance

Shares of OLN opened at $21.32 on Friday. The stock has a 50-day moving average of $22.47 and a 200-day moving average of $30.81. Olin Co. has a one year low of $17.66 and a one year high of $57.10. 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 has a market cap of $2.45 billion, a PE ratio of 23.69 and a beta of 1.56.

Olin (NYSE:OLN - Get Free Report) last issued its earnings results on Thursday, May 1st. The specialty chemicals company reported $0.04 earnings per share for the quarter, topping 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 company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same period in the prior year, the firm earned $0.40 earnings per share. Olin's revenue for the quarter was up 1.2% on a year-over-year basis. On average, equities research analysts predict that Olin Co. will post 1.38 EPS for the current fiscal year.

Olin Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Thursday, May 15th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.75%. The ex-dividend date of this dividend is Thursday, May 15th. Olin's dividend payout ratio is currently 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.

Want to see what other hedge funds are holding OLN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Olin Co. (NYSE:OLN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.