BlueCrest Capital Management Ltd purchased a new position in shares of Olin Corporation (NYSE:OLN) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 117,181 shares of the specialty chemicals company’s stock, valued at approximately $3,852,000. BlueCrest Capital Management Ltd owned 0.07% of Olin Corporation at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. BlackRock Inc. increased its stake in Olin Corporation by 7,604.7% in the first quarter. BlackRock Inc. now owns 19,895,613 shares of the specialty chemicals company’s stock worth $653,967,000 after buying an additional 19,637,387 shares during the last quarter. Norges Bank bought a new stake in Olin Corporation during the fourth quarter worth about $147,414,000. King Street Capital Management L.P. bought a new stake in Olin Corporation during the first quarter worth about $65,740,000. FMR LLC increased its stake in Olin Corporation by 36.8% in the fourth quarter. FMR LLC now owns 6,757,322 shares of the specialty chemicals company’s stock worth $173,055,000 after buying an additional 1,817,365 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Olin Corporation by 51.8% in the first quarter. Bank of New York Mellon Corp now owns 3,176,770 shares of the specialty chemicals company’s stock worth $104,421,000 after buying an additional 1,083,395 shares during the last quarter. Institutional investors own 93.02% of the company’s stock.
Shares of Olin Corporation (NYSE OLN) traded up 1.59% during trading on Friday, reaching $30.10. 1,546,287 shares of the company’s stock were exchanged. Olin Corporation has a 52-week low of $18.24 and a 52-week high of $33.88. The company has a 50 day moving average of $30.00 and a 200 day moving average of $29.84. The firm has a market capitalization of $4.99 billion, a P/E ratio of 104.88 and a beta of 1.44.
Olin Corporation (NYSE:OLN) last posted its earnings results on Tuesday, May 2nd. The specialty chemicals company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by $0.10. Olin Corporation had a net margin of 0.82% and a return on equity of 7.40%. The firm had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.44 billion. Equities analysts anticipate that Olin Corporation will post $1.22 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, June 9th. Investors of record on Wednesday, May 10th were paid a $0.20 dividend. The ex-dividend date was Monday, May 8th. This represents a $0.80 dividend on an annualized basis and a yield of 2.66%. Olin Corporation’s payout ratio is presently 285.71%.
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OLN has been the subject of a number of research reports. Bank of America Corporation started coverage on shares of Olin Corporation in a research report on Monday, May 8th. They set a “buy” rating and a $40.00 price target for the company. Zacks Investment Research cut shares of Olin Corporation from a “buy” rating to a “sell” rating in a research note on Tuesday, March 14th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $35.00 price target on shares of Olin Corporation in a research report on Tuesday, May 16th. BidaskClub raised shares of Olin Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, June 21st. Finally, Cowen and Company reaffirmed an “outperform” rating and set a $39.00 price target (up from $37.00) on shares of Olin Corporation in a research report on Thursday, June 22nd. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $33.14.
About Olin Corporation
Olin Corporation is a manufacturer and distributor of chemical products, and ammunition. The Company operates through three segments: Chlor Alkali Products and Vinyls, Epoxy and Winchester. The Chlor Alkali Products and Vinyls segment manufactures and sells chlorine and caustic soda, ethylene dichloride and vinyl chloride monomer, methyl chloride, methylene chloride, chloroform, carbon tetrachloride, perchloroethylene, trichloroethylene and vinylidene chloride, hydrochloric acid, hydrogen, bleach products and potassium hydroxide.
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