Crestline Management LP Acquires Shares of 24,303 Olin Co. (NYSE:OLN)

Crestline Management LP bought a new stake in shares of Olin Co. (NYSE:OLN) in the 4th quarter, Holdings Channel reports. The institutional investor bought 24,303 shares of the specialty chemicals company’s stock, valued at approximately $821,000.

Other large investors also recently made changes to their positions in the company. Centiva Capital LP acquired a new position in Olin during the fourth quarter valued at approximately $533,000. Bridgefront Capital LLC bought a new stake in shares of Olin in the 4th quarter valued at $307,000. Balyasny Asset Management L.P. raised its stake in Olin by 0.6% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,371,246 shares of the specialty chemicals company’s stock worth $46,348,000 after buying an additional 8,092 shares during the period. Aristeia Capital L.L.C. bought a new position in Olin during the fourth quarter worth about $419,000. Finally, Freestone Grove Partners LP acquired a new position in Olin in the fourth quarter valued at about $361,000. Institutional investors and hedge funds own 88.67% of the company’s stock.

Olin Stock Down 0.4 %

Shares of OLN stock opened at $21.32 on Friday. Olin Co. has a 52-week low of $17.66 and a 52-week high of $57.10. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.77 and a current ratio of 1.27. The stock has a market cap of $2.45 billion, a price-to-earnings ratio of 23.69 and a beta of 1.56. The firm’s 50-day moving average is $22.47 and its 200-day moving average is $30.81.

Olin (NYSE:OLN) last released its quarterly earnings data on Thursday, May 1st. The specialty chemicals company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.14. The firm had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.58 billion. Olin had a return on equity of 5.10% and a net margin of 1.66%. The business’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.40 earnings per share. Sell-side analysts predict that Olin Co. will post 1.38 EPS for the current year.

Olin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Thursday, May 15th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $0.80 dividend on an annualized basis and a yield of 3.75%. Olin’s dividend payout ratio (DPR) is 156.86%.

Analysts Set New Price Targets

OLN has been the subject of several research analyst reports. Royal Bank of Canada decreased their price objective on Olin from $28.00 to $25.00 and set a “sector perform” rating for the company in a research report on Monday, May 5th. The Goldman Sachs Group cut their price objective on shares of Olin from $33.00 to $25.00 and set a “neutral” rating on the stock in a research report on Tuesday. Mizuho set a $23.00 price target on Olin in a research note on Tuesday, April 15th. Piper Sandler dropped their target price on Olin from $33.00 to $26.00 and set a “neutral” rating on the stock in a research report on Monday, April 7th. Finally, Bank of America raised shares of Olin from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $48.00 to $40.00 in a research note on Tuesday, January 14th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Olin has a consensus rating of “Hold” and a consensus target price of $28.60.

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.