Fmr LLC Has $114.02 Million Stake in Olin Co. (NYSE:OLN)

FMR LLC reduced its position in shares of Olin Co. (NYSE:OLN - Free Report) by 65.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,373,294 shares of the specialty chemicals company's stock after selling 6,378,958 shares during the quarter. FMR LLC owned about 2.89% of Olin worth $114,017,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Captrust Financial Advisors raised its holdings in shares of Olin by 14.4% in the 3rd quarter. Captrust Financial Advisors now owns 4,998 shares of the specialty chemicals company's stock worth $240,000 after purchasing an additional 630 shares in the last quarter. Barclays PLC boosted its stake in shares of Olin by 37.7% during the 3rd quarter. Barclays PLC now owns 125,913 shares of the specialty chemicals company's stock worth $6,042,000 after acquiring an additional 34,485 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Olin in the 3rd quarter worth $256,000. Synovus Financial Corp acquired a new stake in shares of Olin during the third quarter worth $253,000. Finally, Franklin Resources Inc. lifted its holdings in shares of Olin by 19.2% during the third quarter. Franklin Resources Inc. now owns 1,073,087 shares of the specialty chemicals company's stock valued at $51,015,000 after purchasing an additional 172,768 shares during the last quarter. 88.67% of the stock is owned by institutional investors and hedge funds.

Olin Stock Performance

Shares of NYSE OLN traded up $0.46 during trading hours on Friday, hitting $20.83. 1,363,094 shares of the stock were exchanged, compared to its average volume of 1,532,151. The firm has a market capitalization of $2.40 billion, a P/E ratio of 23.14 and a beta of 1.50. Olin Co. has a one year low of $17.66 and a one year high of $57.10. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.27 and a quick ratio of 0.77. The company's 50 day moving average is $24.01 and its 200 day moving average is $33.45.

Olin (NYSE:OLN - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $0.09 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.10. Olin had a return on equity of 5.10% and a net margin of 1.66%. On average, research analysts expect that Olin Co. will post 1.38 EPS for the current year.

Olin Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, March 6th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.84%. The ex-dividend date of this dividend was Thursday, March 6th. Olin's payout ratio is presently 88.89%.

Analysts Set New Price Targets

A number of research firms have commented on OLN. BMO Capital Markets reduced their price objective on shares of Olin from $44.00 to $34.00 and set a "market perform" rating for the company in a research note on Wednesday, February 5th. Mizuho set a $23.00 target price on Olin in a report on Tuesday. Truist Financial lowered their price target on Olin from $32.00 to $25.00 and set a "hold" rating on the stock in a report on Monday, April 14th. KeyCorp reduced their price objective on Olin from $40.00 to $34.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Finally, Barclays dropped their target price on Olin from $34.00 to $28.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 1st. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Olin presently has an average rating of "Hold" and a consensus price target of $33.25.

Insider Activity

In other Olin news, CEO Kenneth Todd Lane acquired 7,250 shares of the company's stock in a transaction dated Tuesday, February 4th. The stock was bought 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 owns 7,250 shares in the company, valued at $203,435. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.60% of the stock is currently owned by company insiders.

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.