Balyasny Asset Management L.P. Boosts Stock Holdings in Olin Co. (NYSE:OLN)

Balyasny Asset Management L.P. grew its position in shares of Olin Co. (NYSE:OLNFree Report) by 218.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,649,273 shares of the specialty chemicals company’s stock after acquiring an additional 1,131,674 shares during the quarter. Balyasny Asset Management L.P. owned 1.35% of Olin worth $88,978,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Boston Partners raised its stake in shares of Olin by 122.8% during the 4th quarter. Boston Partners now owns 5,029,377 shares of the specialty chemicals company’s stock worth $271,152,000 after purchasing an additional 2,772,274 shares during the period. Norges Bank bought a new stake in shares of Olin during the 4th quarter worth $76,125,000. Pzena Investment Management LLC raised its stake in shares of Olin by 15.6% during the 3rd quarter. Pzena Investment Management LLC now owns 2,940,658 shares of the specialty chemicals company’s stock worth $146,974,000 after purchasing an additional 397,050 shares during the period. Luminus Management LLC raised its stake in shares of Olin by 119.6% during the 3rd quarter. Luminus Management LLC now owns 524,753 shares of the specialty chemicals company’s stock worth $26,227,000 after purchasing an additional 285,789 shares during the period. Finally, Franklin Resources Inc. raised its stake in shares of Olin by 67.6% during the 4th quarter. Franklin Resources Inc. now owns 663,202 shares of the specialty chemicals company’s stock worth $35,780,000 after purchasing an additional 267,460 shares during the period. 88.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on OLN shares. Barclays lifted their target price on Olin from $57.00 to $59.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 4th. Wells Fargo & Company boosted their price objective on Olin from $56.00 to $60.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 3rd. KeyCorp lowered their price objective on Olin from $78.00 to $73.00 and set an “overweight” rating on the stock in a research note on Monday, April 29th. Stifel Nicolaus boosted their price objective on Olin from $68.00 to $69.00 and gave the company a “buy” rating in a research note on Monday, April 29th. Finally, Bank of America lowered their price objective on Olin from $74.00 to $72.00 and set a “buy” rating on the stock in a research note on Monday, April 29th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Olin currently has a consensus rating of “Hold” and a consensus target price of $60.00.

View Our Latest Research Report on OLN

Olin Trading Up 0.2 %

Shares of OLN opened at $50.19 on Tuesday. Olin Co. has a twelve month low of $41.71 and a twelve month high of $60.60. The company has a quick ratio of 0.80, a current ratio of 1.38 and a debt-to-equity ratio of 1.22. The stock has a market cap of $5.99 billion, a PE ratio of 18.05, a P/E/G ratio of 0.29 and a beta of 1.47. The business’s 50-day moving average price is $54.49 and its 200-day moving average price is $53.49.

Olin (NYSE:OLNGet Free Report) last issued its quarterly earnings data on Friday, April 26th. The specialty chemicals company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.38 by $0.02. Olin had a return on equity of 14.47% and a net margin of 5.32%. The company had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the previous year, the firm earned $1.16 earnings per share. Olin’s revenue was down 11.3% on a year-over-year basis. On average, equities analysts forecast that Olin Co. will post 3.66 EPS for the current fiscal year.

Olin Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Thursday, May 9th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.59%. The ex-dividend date of this dividend is Wednesday, May 8th. Olin’s payout ratio is 28.78%.

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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Institutional Ownership by Quarter for Olin (NYSE:OLN)

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