BlueCrest Capital Management Ltd lessened its holdings in Olin Co. (NYSE:OLN) by 43.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 37,332 shares of the specialty chemicals company’s stock after selling 28,918 shares during the period. BlueCrest Capital Management Ltd’s holdings in Olin were worth $1,328,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in OLN. First Trust Advisors LP lifted its position in shares of Olin by 101.3% in the 3rd quarter. First Trust Advisors LP now owns 211,564 shares of the specialty chemicals company’s stock worth $7,246,000 after purchasing an additional 106,444 shares during the period. Crossmark Global Holdings Inc. purchased a new stake in shares of Olin in the 3rd quarter worth approximately $457,000. Boston Partners lifted its position in shares of Olin by 2.2% in the 3rd quarter. Boston Partners now owns 646,387 shares of the specialty chemicals company’s stock worth $22,139,000 after purchasing an additional 14,197 shares during the period. Principal Financial Group Inc. lifted its position in shares of Olin by 8.4% in the 3rd quarter. Principal Financial Group Inc. now owns 1,060,870 shares of the specialty chemicals company’s stock worth $36,335,000 after purchasing an additional 82,355 shares during the period. Finally, Jennison Associates LLC lifted its position in Olin by 7,869.7% during the third quarter. Jennison Associates LLC now owns 1,992,417 shares of the specialty chemicals company’s stock valued at $68,240,000 after acquiring an additional 1,967,417 shares during the last quarter. 89.09% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts recently commented on the stock. Royal Bank of Canada reissued a “buy” rating and set a $42.00 target price on shares of Olin in a research report on Thursday, December 14th. Zacks Investment Research raised shares of Olin from a “hold” rating to a “buy” rating and set a $42.00 target price for the company in a research report on Friday, January 12th. JPMorgan Chase & Co. assumed coverage on shares of Olin in a research report on Friday. They set an “overweight” rating and a $36.00 target price for the company. Morgan Stanley assumed coverage on shares of Olin in a research report on Tuesday, January 9th. They set an “overweight” rating and a $45.00 target price for the company. Finally, SunTrust Banks reissued a “buy” rating on shares of Olin in a research report on Tuesday, February 13th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Olin presently has an average rating of “Buy” and a consensus price target of $39.45.
Olin Co. (NYSE OLN) opened at $33.14 on Tuesday. The stock has a market cap of $5,540.00, a price-to-earnings ratio of 50.21, a price-to-earnings-growth ratio of 1.13 and a beta of 1.43. Olin Co. has a fifty-two week low of $27.79 and a fifty-two week high of $38.84. The company has a quick ratio of 1.07, a current ratio of 1.78 and a debt-to-equity ratio of 1.31.
Olin (NYSE:OLN) last posted its quarterly earnings results on Tuesday, February 6th. The specialty chemicals company reported $2.89 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.44 by $2.45. The business had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.53 billion. Olin had a net margin of 8.77% and a return on equity of 6.02%. The business’s quarterly revenue was up 16.9% on a year-over-year basis. During the same quarter last year, the company posted $0.11 earnings per share. sell-side analysts expect that Olin Co. will post 2.12 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, March 9th. Shareholders of record on Friday, February 9th were issued a $0.20 dividend. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.41%. Olin’s dividend payout ratio is currently 121.21%.
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Olin Company Profile
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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