Olin Co. (NYSE:OLN) Shares Acquired by Quadrature Capital Ltd

Quadrature Capital Ltd boosted its holdings in shares of Olin Co. (NYSE:OLNFree Report) by 108.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,596 shares of the specialty chemicals company’s stock after purchasing an additional 13,853 shares during the period. Quadrature Capital Ltd’s holdings in Olin were worth $1,435,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in OLN. Boston Partners lifted its stake in Olin by 122.8% during the fourth quarter. Boston Partners now owns 5,029,377 shares of the specialty chemicals company’s stock valued at $271,152,000 after purchasing an additional 2,772,274 shares during the last quarter. Norges Bank purchased a new stake in shares of Olin in the 4th quarter valued at approximately $76,125,000. Pzena Investment Management LLC lifted its position in shares of Olin by 15.6% in the 3rd quarter. Pzena Investment Management LLC now owns 2,940,658 shares of the specialty chemicals company’s stock valued at $146,974,000 after acquiring an additional 397,050 shares in the last quarter. Luminus Management LLC lifted its position in shares of Olin by 119.6% in the 3rd quarter. Luminus Management LLC now owns 524,753 shares of the specialty chemicals company’s stock valued at $26,227,000 after acquiring an additional 285,789 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of Olin by 67.6% in the 4th quarter. Franklin Resources Inc. now owns 663,202 shares of the specialty chemicals company’s stock valued at $35,780,000 after acquiring an additional 267,460 shares in the last quarter. 88.67% of the stock is owned by institutional investors and hedge funds.

Olin Stock Performance

Shares of OLN opened at $50.19 on Tuesday. The company’s fifty day moving average is $54.49 and its 200-day moving average is $53.49. Olin Co. has a 12 month low of $41.71 and a 12 month high of $60.60. The firm has a market cap of $5.99 billion, a price-to-earnings ratio of 18.05, a price-to-earnings-growth ratio of 0.29 and a beta of 1.47. The company has a quick ratio of 0.80, a current ratio of 1.38 and a debt-to-equity ratio of 1.22.

Olin (NYSE:OLNGet Free Report) last announced its quarterly earnings results 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 net margin of 5.32% and a return on equity of 14.47%. The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the prior year, the business posted $1.16 EPS. Olin’s quarterly revenue was down 11.3% on a year-over-year basis. Equities analysts expect that Olin Co. will post 3.66 EPS for the current fiscal year.

Olin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Thursday, May 9th will be paid a $0.20 dividend. The ex-dividend date is Wednesday, May 8th. This represents a $0.80 dividend on an annualized basis and a yield of 1.59%. Olin’s payout ratio is presently 28.78%.

Analysts Set New Price Targets

Several brokerages recently commented on OLN. Royal Bank of Canada reduced their price target on shares of Olin from $69.00 to $63.00 and set an “outperform” rating for the company in a research report on Monday, April 29th. Piper Sandler upped their price target on shares of Olin from $72.00 to $75.00 and gave the company an “overweight” rating in a research report on Monday, April 29th. Citigroup increased their target price on shares of Olin from $63.00 to $67.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Barclays increased their target price on shares of Olin from $57.00 to $59.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 4th. Finally, Bank of America cut their target price on shares of Olin from $74.00 to $72.00 and set a “buy” rating for the company in a research report on Monday, April 29th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $60.00.

Get Our Latest Stock Analysis on OLN

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.

See Also

Institutional Ownership by Quarter for Olin (NYSE:OLN)

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