Marshall Wace LLP Has $11.66 Million Position in Olin Co. (NYSE:OLN)

Marshall Wace LLP increased its stake in shares of Olin Co. (NYSE:OLN) by 1,960.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 344,962 shares of the specialty chemicals company’s stock after purchasing an additional 328,222 shares during the quarter. Marshall Wace LLP’s holdings in Olin were worth $11,660,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Covestor Ltd increased its holdings in shares of Olin by 45.8% during the fourth quarter. Covestor Ltd now owns 1,334 shares of the specialty chemicals company’s stock worth $45,000 after buying an additional 419 shares in the last quarter. Spire Wealth Management grew its position in Olin by 246.8% during the 4th quarter. Spire Wealth Management now owns 1,616 shares of the specialty chemicals company’s stock worth $55,000 after acquiring an additional 1,150 shares during the last quarter. CoreFirst Bank & Trust acquired a new position in Olin in the 4th quarter worth about $66,000. Jones Financial Companies Lllp raised its position in Olin by 59.9% in the fourth quarter. Jones Financial Companies Lllp now owns 2,431 shares of the specialty chemicals company’s stock valued at $82,000 after purchasing an additional 911 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake in shares of Olin by 34.3% during the fourth quarter. Blue Trust Inc. now owns 2,887 shares of the specialty chemicals company’s stock valued at $98,000 after purchasing an additional 738 shares in the last quarter. Institutional investors own 88.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Bank of America upgraded shares of Olin from a “neutral” rating to a “buy” rating and cut their target price for the stock from $48.00 to $40.00 in a research report on Tuesday, January 14th. BMO Capital Markets decreased their price objective on Olin from $44.00 to $34.00 and set a “market perform” rating for the company in a report on Wednesday, February 5th. KeyCorp cut their target price on Olin from $40.00 to $34.00 and set an “overweight” rating on the stock in a report on Monday, April 14th. JPMorgan Chase & Co. downgraded Olin from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $50.00 to $28.00 in a research report on Thursday, February 27th. Finally, UBS Group decreased their target price on shares of Olin from $34.00 to $21.00 and set a “neutral” rating for the company in a research report on Monday, April 7th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $33.25.

Olin Stock Up 0.2 %

Shares of NYSE:OLN opened at $20.93 on Tuesday. The firm has a market cap of $2.41 billion, a P/E ratio of 23.26 and a beta of 1.50. Olin Co. has a 52-week low of $17.66 and a 52-week high of $57.10. The business’s 50 day simple moving average is $23.87 and its two-hundred day simple moving average is $33.07. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.77 and a current ratio of 1.27.

Olin (NYSE:OLN) last released its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $0.09 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.10. Olin had a net margin of 1.66% and a return on equity of 5.10%. As a group, research analysts forecast that Olin Co. will post 1.38 EPS for the current fiscal year.

Olin Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, March 6th were given a dividend of $0.20 per share. The ex-dividend date was Thursday, March 6th. This represents a $0.80 annualized dividend and a dividend yield of 3.82%. Olin’s payout ratio is 88.89%.

Insider Activity at Olin

In other news, CEO Kenneth Todd Lane bought 7,250 shares of Olin stock in a transaction dated Tuesday, February 4th. The stock was purchased at an average price of $28.06 per share, for a total transaction of $203,435.00. Following the purchase, the chief executive officer now directly owns 7,250 shares in the company, valued at $203,435. The trade was a ? increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.60% of the stock is currently owned by insiders.

About Olin

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.