13,338 Shares in Olin Co. (NYSE:OLN) Bought by Ethic Inc.

Ethic Inc. purchased a new position in shares of Olin Co. (NYSE:OLN) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 13,338 shares of the specialty chemicals company’s stock, valued at approximately $451,000.

A number of other large investors have also recently bought and sold shares of the business. Covestor Ltd grew its holdings in Olin by 45.8% during the 4th quarter. Covestor Ltd now owns 1,334 shares of the specialty chemicals company’s stock worth $45,000 after acquiring an additional 419 shares during the period. Wilmington Savings Fund Society FSB grew its holdings in Olin by 9.4% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 5,833 shares of the specialty chemicals company’s stock worth $197,000 after acquiring an additional 500 shares during the period. Connable Office Inc. grew its holdings in Olin by 9.3% during the 4th quarter. Connable Office Inc. now owns 6,207 shares of the specialty chemicals company’s stock worth $210,000 after acquiring an additional 527 shares during the period. First Citizens Bank & Trust Co. grew its holdings in Olin by 8.5% during the 4th quarter. First Citizens Bank & Trust Co. now owns 6,930 shares of the specialty chemicals company’s stock worth $234,000 after acquiring an additional 542 shares during the period. Finally, Blue Trust Inc. grew its holdings in Olin by 34.3% during the 4th quarter. Blue Trust Inc. now owns 2,887 shares of the specialty chemicals company’s stock worth $98,000 after acquiring an additional 738 shares during the period. 88.67% of the stock is currently owned by institutional investors and hedge funds.

Olin Price Performance

OLN stock opened at $21.08 on Friday. The company has a market capitalization of $2.43 billion, a P/E ratio of 23.42 and a beta of 1.56. 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 Co. has a 52-week low of $17.66 and a 52-week high of $56.98. The business has a 50-day simple moving average of $22.27 and a two-hundred day simple moving average of $30.22.

Olin (NYSE:OLN) last released its quarterly earnings results on Thursday, May 1st. The specialty chemicals company reported $0.04 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter in the previous year, the business earned $0.40 EPS. The company’s quarterly revenue was up 1.2% on a year-over-year basis. Research analysts expect that Olin Co. will post 1.38 EPS for the current fiscal year.

Olin Dividend Announcement

The company also recently announced 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 is Thursday, May 15th. This represents a $0.80 annualized dividend and a dividend yield of 3.80%. Olin’s dividend payout ratio is currently 156.86%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on OLN shares. Royal Bank of Canada decreased their price target on Olin from $28.00 to $25.00 and set a “sector perform” rating for the company in a report on Monday, May 5th. Truist Financial reduced their target price on Olin from $25.00 to $24.00 and set a “hold” rating for the company in a research note on Monday, May 5th. Barclays reduced their target price on Olin from $34.00 to $28.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 1st. Citigroup reduced their target price on Olin from $34.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday, March 27th. Finally, Morgan Stanley reduced their target price on Olin from $28.00 to $20.00 and set an “underweight” rating for the company in a research note on Monday. One equities research 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. According to MarketBeat.com, Olin currently has an average rating of “Hold” and an average target price of $28.07.

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.