Oak Thistle LLC Purchases Shares of 9,304 Olin Co. (NYSE:OLN)

Oak Thistle LLC acquired a new position in Olin Co. (NYSE:OLN) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 9,304 shares of the specialty chemicals company’s stock, valued at approximately $547,000.

Several other institutional investors have also recently made changes to their positions in the business. Boston Partners boosted 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 acquiring an additional 2,772,274 shares during the last quarter. South Dakota Investment Council grew its holdings in Olin by 279.8% during the fourth quarter. South Dakota Investment Council now owns 60,392 shares of the specialty chemicals company’s stock valued at $3,258,000 after purchasing an additional 44,492 shares during the period. BNP Paribas Financial Markets increased its position in Olin by 34.6% in the fourth quarter. BNP Paribas Financial Markets now owns 188,973 shares of the specialty chemicals company’s stock worth $10,195,000 after buying an additional 48,625 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Olin by 3.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,635,983 shares of the specialty chemicals company’s stock valued at $196,167,000 after buying an additional 126,587 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC bought a new position in shares of Olin during the 4th quarter valued at approximately $3,350,000. Institutional investors own 88.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on OLN shares. Barclays increased their price objective on shares of Olin from $57.00 to $59.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 4th. Piper Sandler upped their price objective on Olin from $72.00 to $75.00 and gave the stock an “overweight” rating in a research note on Monday, April 29th. Citigroup boosted their price target on Olin from $63.00 to $67.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. KeyCorp dropped their price target on Olin from $78.00 to $73.00 and set an “overweight” rating for the company in a research note on Monday, April 29th. Finally, Bank of America reduced their price objective on shares of Olin from $74.00 to $72.00 and set a “buy” rating on the stock in a research report on Monday, April 29th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $60.00.

Olin Trading Down 1.3 %

Olin stock traded down $0.63 during midday trading on Monday, reaching $46.52. The stock had a trading volume of 1,568,882 shares, compared to its average volume of 1,037,711. 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 firm has a market cap of $5.56 billion, a price-to-earnings ratio of 16.73, a price-to-earnings-growth ratio of 0.27 and a beta of 1.44. Olin Co. has a 52-week low of $41.71 and a 52-week high of $60.60. The company has a fifty day moving average of $52.39 and a 200 day moving average of $53.52.

Olin (NYSE:OLN) last posted its quarterly earnings data on Friday, April 26th. The specialty chemicals company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $1.65 billion. During the same quarter in the previous year, the business earned $1.16 EPS. Olin’s revenue was down 11.3% compared to the same quarter last year. On average, analysts anticipate that Olin Co. will post 3.66 earnings per share for the current fiscal year.

Olin Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Thursday, May 9th were issued a dividend of $0.20 per share. The ex-dividend date was Wednesday, May 8th. This represents a $0.80 dividend on an annualized basis and a yield of 1.72%. Olin’s payout ratio is 28.78%.

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.