Schonfeld Strategic Advisors LLC acquired a new stake in Olin Co. (NYSE:OLN - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 38,598 shares of the specialty chemicals company's stock, valued at approximately $1,305,000.
Other institutional investors also recently modified their holdings of the company. Thrivent Financial for Lutherans raised its position in Olin by 5,746.2% during the 4th quarter. Thrivent Financial for Lutherans now owns 1,613,796 shares of the specialty chemicals company's stock valued at $54,546,000 after purchasing an additional 1,586,192 shares during the last quarter. Norges Bank bought a new position in shares of Olin during the fourth quarter valued at approximately $47,887,000. Fuller & Thaler Asset Management Inc. lifted its stake in Olin by 11.5% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 4,543,844 shares of the specialty chemicals company's stock worth $153,582,000 after acquiring an additional 467,680 shares during the period. Marshall Wace LLP boosted its holdings in Olin by 1,960.7% in the fourth quarter. Marshall Wace LLP now owns 344,962 shares of the specialty chemicals company's stock valued at $11,660,000 after acquiring an additional 328,222 shares in the last quarter. Finally, Pzena Investment Management LLC increased its position in Olin by 7.4% during the 4th quarter. Pzena Investment Management LLC now owns 3,709,611 shares of the specialty chemicals company's stock valued at $125,385,000 after purchasing an additional 256,903 shares during the period. 88.67% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on the company. KeyCorp reduced their target price on Olin from $40.00 to $34.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Truist Financial decreased their price objective on Olin from $25.00 to $24.00 and set a "hold" rating for the company in a report on Monday, May 5th. Morgan Stanley dropped their target price on shares of Olin from $31.00 to $28.00 and set an "underweight" rating on the stock in a report on Tuesday, February 4th. Barclays decreased their price target on shares of Olin from $34.00 to $28.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 1st. Finally, Royal Bank of Canada dropped their price objective on shares of Olin from $28.00 to $25.00 and set a "sector perform" rating on the stock in a research note on Monday, May 5th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Olin presently has an average rating of "Hold" and an average price target of $28.60.
Read Our Latest Stock Analysis on OLN
Olin Price Performance
Shares of NYSE OLN traded down $0.09 during mid-day trading on Friday, hitting $21.32. 1,214,392 shares of the company's stock traded hands, compared to its average volume of 1,582,365. 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 Co. has a 1 year low of $17.66 and a 1 year high of $57.10. The company's 50-day moving average is $22.47 and its two-hundred day moving average is $30.81. The company has a market capitalization of $2.45 billion, a P/E ratio of 23.69 and a beta of 1.56.
Olin (NYSE:OLN - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The specialty chemicals company reported $0.04 earnings per share (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 business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same period last year, the company earned $0.40 EPS. The company's revenue for the quarter was up 1.2% on a year-over-year basis. On average, equities analysts anticipate that Olin Co. will post 1.38 EPS for the current fiscal year.
Olin Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Thursday, May 15th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.75%. Olin's dividend payout ratio is 156.86%.
About Olin
(
Free Report)
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.
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