Olin Co. (NYSE:OLN) Shares Sold by Voya Investment Management LLC

Voya Investment Management LLC lowered its holdings in Olin Co. (NYSE:OLN) by 6.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,245 shares of the specialty chemicals company’s stock after selling 1,001 shares during the period. Voya Investment Management LLC’s holdings in Olin were worth $481,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Blue Trust Inc. raised its holdings in Olin by 34.3% in the fourth quarter. Blue Trust Inc. now owns 2,887 shares of the specialty chemicals company’s stock valued at $98,000 after acquiring an additional 738 shares in the last quarter. Harbor Capital Advisors Inc. raised its stake in Olin by 55.5% during the fourth quarter. Harbor Capital Advisors Inc. now owns 143,062 shares of the specialty chemicals company’s stock valued at $4,835,000 after buying an additional 51,051 shares in the last quarter. KBC Group NV lifted its holdings in Olin by 82.9% during the 4th quarter. KBC Group NV now owns 5,461 shares of the specialty chemicals company’s stock worth $185,000 after buying an additional 2,476 shares during the last quarter. Mariner Investment Group LLC acquired a new position in shares of Olin in the 4th quarter worth approximately $355,000. Finally, LPL Financial LLC raised its position in shares of Olin by 218.9% during the 4th quarter. LPL Financial LLC now owns 138,477 shares of the specialty chemicals company’s stock valued at $4,681,000 after acquiring an additional 95,054 shares in the last quarter. Institutional investors and hedge funds own 88.67% of the company’s stock.

Olin Trading Down 0.4 %

Shares of NYSE:OLN opened at $21.32 on Friday. Olin Co. has a twelve month low of $17.66 and a twelve month high of $57.10. The company has a current ratio of 1.27, a quick ratio of 0.77 and a debt-to-equity ratio of 1.32. The firm has a market cap of $2.45 billion, a P/E ratio of 23.69 and a beta of 1.56. The company has a 50 day moving average of $22.47 and a 200-day moving average of $30.81.

Olin (NYSE:OLN) last released its earnings results on Thursday, May 1st. The specialty chemicals company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.14. Olin had a return on equity of 5.10% and a net margin of 1.66%. The firm had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same period in the prior year, the firm posted $0.40 earnings per share. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. As a group, analysts anticipate that Olin Co. will post 1.38 earnings per share for the current fiscal year.

Olin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Thursday, May 15th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date of this dividend is Thursday, May 15th. Olin’s payout ratio is currently 156.86%.

Analysts Set New Price Targets

Several research firms have weighed in on OLN. Royal Bank of Canada lowered their target price on shares of Olin from $28.00 to $25.00 and set a “sector perform” rating for the company in a research note on Monday, May 5th. Piper Sandler decreased their target price on Olin from $33.00 to $26.00 and set a “neutral” rating for the company in a research note on Monday, April 7th. Barclays cut their price target on Olin from $34.00 to $28.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 1st. Bank of America raised Olin from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $48.00 to $40.00 in a research report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Olin from $28.00 to $20.00 and set a “neutral” rating for the company in a research report on Tuesday. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Olin has a consensus rating of “Hold” and an average target price of $28.60.

Olin Company 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.