Olin Co. (NYSE:OLN) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets trimmed its position in shares of Olin Co. (NYSE:OLN - Free Report) by 50.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 120,438 shares of the specialty chemicals company's stock after selling 121,032 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.10% of Olin worth $4,071,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Covestor Ltd raised its holdings 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 worth $45,000 after acquiring an additional 419 shares during the last quarter. Spire Wealth Management raised its holdings in shares of Olin by 246.8% in the fourth quarter. Spire Wealth Management now owns 1,616 shares of the specialty chemicals company's stock worth $55,000 after acquiring an additional 1,150 shares during the last quarter. CoreFirst Bank & Trust acquired a new position in shares of Olin in the fourth quarter worth $66,000. Jones Financial Companies Lllp raised its holdings in shares of Olin by 59.9% in the fourth quarter. Jones Financial Companies Lllp now owns 2,431 shares of the specialty chemicals company's stock worth $82,000 after acquiring an additional 911 shares during the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of Olin by 34.3% in the fourth quarter. Blue Trust Inc. now owns 2,887 shares of the specialty chemicals company's stock worth $98,000 after acquiring an additional 738 shares during the last quarter. 88.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on OLN. Wells Fargo & Company boosted their price target on Olin from $19.00 to $22.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 6th. The Goldman Sachs Group cut 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. Piper Sandler dropped their target price on Olin from $33.00 to $26.00 and set a "neutral" rating for the company in a research note on Monday, April 7th. BMO Capital Markets dropped their target price on Olin from $44.00 to $34.00 and set a "market perform" rating for the company in a research note on Wednesday, February 5th. Finally, Morgan Stanley lowered their price target on Olin from $28.00 to $20.00 and set an "underweight" rating for the company in a research report on Monday, May 12th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $28.07.

Olin Stock Up 0.1%

OLN traded up $0.03 on Friday, reaching $21.12. The company's stock had a trading volume of 1,340,640 shares, compared to its average volume of 1,606,849. The stock has a market cap of $2.43 billion, a price-to-earnings ratio of 23.47 and a beta of 1.56. Olin Co. has a 1 year low of $17.66 and a 1 year high of $56.98. 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 business's 50 day moving average is $22.20 and its 200 day moving average is $30.01.

Olin (NYSE:OLN - Get Free Report) last issued its quarterly 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 during the quarter, compared to the consensus estimate of $1.58 billion. Olin had a return on equity of 5.10% and a net margin of 1.66%. Olin's revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.40 earnings per share. As a group, research analysts forecast that Olin Co. will post 1.38 EPS for the current fiscal year.

Olin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Thursday, May 15th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.79%. 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.