Oxford Asset Management LLP Makes New $411,000 Investment in Olin Co. (NYSE:OLN)

Oxford Asset Management LLP purchased a new position in shares of Olin Co. (NYSE:OLN - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 12,148 shares of the specialty chemicals company's stock, valued at approximately $411,000.

A number of other hedge funds have also recently added to or reduced their stakes in OLN. Covestor Ltd increased its position in shares of Olin by 45.8% during 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 in the last quarter. Spire Wealth Management boosted its position in shares of Olin by 246.8% during the fourth quarter. Spire Wealth Management now owns 1,616 shares of the specialty chemicals company's stock valued at $55,000 after buying an additional 1,150 shares during the last quarter. CoreFirst Bank & Trust bought a new stake in Olin during the fourth quarter worth $66,000. Jones Financial Companies Lllp boosted its holdings in Olin by 59.9% during the 4th 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. grew its stake in shares of Olin by 34.3% in the 4th 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 in the last quarter. Institutional investors and hedge funds own 88.67% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on OLN. Bank of America raised Olin from a "neutral" rating to a "buy" rating and cut their price objective for the stock from $48.00 to $40.00 in a research report on Tuesday, January 14th. Royal Bank of Canada downgraded shares of Olin from an "outperform" rating to a "sector perform" rating and cut their price target for the stock from $45.00 to $30.00 in a report on Tuesday, February 4th. Citigroup decreased their price objective on shares of Olin from $34.00 to $30.00 and set a "buy" rating for the company in a report on Thursday, March 27th. 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. Finally, BMO Capital Markets lowered their price target on shares of Olin from $44.00 to $34.00 and set a "market perform" rating on the stock in a report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $30.87.

Insiders Place Their Bets

In other news, CEO Kenneth Todd Lane bought 7,250 shares of the company's stock in a transaction dated Tuesday, February 4th. The shares were purchased at an average price of $28.06 per share, for a total transaction of $203,435.00. Following the completion of the purchase, the chief executive officer now owns 7,250 shares in the company, valued at approximately $203,435. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.70% of the company's stock.

Olin Trading Up 4.5 %

Olin stock traded up $0.97 during trading hours on Friday, reaching $22.62. The stock had a trading volume of 2,392,149 shares, compared to its average volume of 1,556,995. The company has a fifty day simple moving average of $22.94 and a 200-day simple moving average of $31.86. Olin Co. has a 52 week low of $17.66 and a 52 week high of $57.10. The stock has a market cap of $2.60 billion, a PE ratio of 25.14 and a beta of 1.50. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.27 and a quick ratio of 0.77.

Olin (NYSE:OLN - Get Free Report) last posted its 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 forecast that Olin Co. will post 1.38 EPS for the current fiscal year.

Olin Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, March 6th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date of this dividend was Thursday, March 6th. Olin's payout ratio is currently 88.89%.

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.