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

Marshall Wace LLP raised its stake in Olin Co. (NYSE:OLN - Free Report) by 1,960.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 344,962 shares of the specialty chemicals company's stock after buying an additional 328,222 shares during the quarter. Marshall Wace LLP owned about 0.30% of Olin worth $11,660,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Pzena Investment Management LLC boosted its stake in Olin by 7.4% in the 4th quarter. Pzena Investment Management LLC now owns 3,709,611 shares of the specialty chemicals company's stock worth $125,385,000 after purchasing an additional 256,903 shares during the period. Thrivent Financial for Lutherans boosted its position in shares of Olin by 5,746.2% during the fourth quarter. Thrivent Financial for Lutherans now owns 1,613,796 shares of the specialty chemicals company's stock worth $54,546,000 after buying an additional 1,586,192 shares during the period. Norges Bank bought a new position in shares of Olin during the fourth quarter worth about $47,887,000. Charles Schwab Investment Management Inc. raised its position in Olin by 4.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,353,907 shares of the specialty chemicals company's stock valued at $45,762,000 after buying an additional 58,208 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Olin by 8.1% in the 4th quarter. Bank of New York Mellon Corp now owns 1,305,521 shares of the specialty chemicals company's stock valued at $44,127,000 after buying an additional 97,980 shares during the last quarter. Institutional investors and hedge funds own 88.67% of the company's stock.

Insider Activity at Olin

In related news, CEO Kenneth Todd Lane acquired 7,250 shares of the company's stock in a transaction on Tuesday, February 4th. The stock was purchased at an average cost of $28.06 per share, with a total value of $203,435.00. Following the acquisition, the chief executive officer now directly owns 7,250 shares of the company's stock, valued at approximately $203,435. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.60% of the stock is currently owned by corporate insiders.

Olin Stock Performance

Shares of NYSE:OLN traded down $0.24 during trading on Friday, reaching $21.99. 1,098,434 shares of the stock were exchanged, compared to its average volume of 1,547,435. The firm has a market cap of $2.53 billion, a PE ratio of 24.43 and a beta of 1.50. The company has a current ratio of 1.27, a quick ratio of 0.77 and a debt-to-equity ratio of 1.32. Olin Co. has a 12 month low of $17.66 and a 12 month high of $57.10. The stock has a 50-day moving average price of $23.37 and a 200-day moving average price of $32.56.

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, topping 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%. Research analysts expect that Olin Co. will post 1.38 EPS for the current fiscal year.

Olin Dividend Announcement

The firm also recently announced 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. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $0.80 annualized dividend and a dividend yield of 3.64%. Olin's dividend payout ratio is presently 88.89%.

Analyst Ratings Changes

A number of analysts have recently issued reports on OLN shares. Piper Sandler lowered their price objective on shares of Olin from $33.00 to $26.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. Wells Fargo & Company lowered their price target on shares of Olin from $25.00 to $19.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 9th. Citigroup reduced their price objective on shares of Olin from $34.00 to $30.00 and set a "buy" rating for the company in a research note on Thursday, March 27th. BMO Capital Markets lowered their target price on Olin from $44.00 to $34.00 and set a "market perform" rating on the stock in a research report on Wednesday, February 5th. Finally, Mizuho set a $23.00 price target on Olin in a research note on Tuesday, April 15th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $33.25.

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.