Olin Co. (NYSE:OLN) Shares Acquired by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC lifted its position in shares of Olin Co. (NYSE:OLN - Free Report) by 36.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 50,613 shares of the specialty chemicals company's stock after buying an additional 13,557 shares during the period. Wedge Capital Management L L P NC's holdings in Olin were worth $2,428,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in OLN. Goldman Sachs Group Inc. lifted its position in Olin by 12.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 468,175 shares of the specialty chemicals company's stock valued at $25,258,000 after buying an additional 50,167 shares in the last quarter. Quadrature Capital Ltd lifted its holdings in shares of Olin by 108.7% during the 4th quarter. Quadrature Capital Ltd now owns 26,596 shares of the specialty chemicals company's stock valued at $1,435,000 after acquiring an additional 13,853 shares in the last quarter. GAMMA Investing LLC boosted its position in Olin by 50.7% during the 1st quarter. GAMMA Investing LLC now owns 2,793 shares of the specialty chemicals company's stock worth $164,000 after purchasing an additional 940 shares during the period. First Hawaiian Bank increased its holdings in Olin by 7.0% in the 1st quarter. First Hawaiian Bank now owns 17,471 shares of the specialty chemicals company's stock valued at $1,027,000 after purchasing an additional 1,140 shares in the last quarter. Finally, FCF Advisors LLC raised its position in Olin by 21.1% in the first quarter. FCF Advisors LLC now owns 15,991 shares of the specialty chemicals company's stock valued at $940,000 after purchasing an additional 2,791 shares during the period. 88.67% of the stock is owned by hedge funds and other institutional investors.

Olin Stock Performance

Shares of OLN stock traded up $0.70 on Wednesday, hitting $47.14. 1,106,633 shares of the stock traded hands, compared to its average volume of 1,141,129. The company's fifty day moving average is $44.09 and its 200 day moving average is $48.81. Olin Co. has a 1-year low of $39.47 and a 1-year high of $60.60. The company has a market capitalization of $5.63 billion, a PE ratio of 16.70, a PEG ratio of 1.02 and a beta of 1.41. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.43 and a quick ratio of 0.82.

Olin (NYSE:OLN - Get Free Report) last issued its earnings results on Thursday, July 25th. The specialty chemicals company reported $0.62 earnings per share for the quarter, missing analysts' consensus estimates of $0.70 by ($0.08). Olin had a return on equity of 11.73% and a net margin of 4.26%. The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same period last year, the company posted $1.13 earnings per share. The firm's revenue for the quarter was down 3.5% on a year-over-year basis. On average, equities research analysts predict that Olin Co. will post 1.61 earnings per share for the current fiscal year.

Olin Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Thursday, August 8th were paid a $0.20 dividend. The ex-dividend date was Thursday, August 8th. This represents a $0.80 dividend on an annualized basis and a yield of 1.70%. Olin's payout ratio is currently 28.78%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on OLN shares. BMO Capital Markets started coverage on Olin in a research report on Tuesday, September 3rd. They issued a "market perform" rating and a $50.00 target price for the company. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Olin from $57.00 to $48.00 and set a "hold" rating on the stock in a research report on Monday, July 29th. Piper Sandler lowered their price target on shares of Olin from $75.00 to $57.00 and set an "overweight" rating for the company in a report on Tuesday, July 30th. UBS Group dropped their price target on shares of Olin from $59.00 to $51.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 9th. Finally, Barclays lowered their target price on Olin from $59.00 to $49.00 and set an "equal weight" rating for the company in a research note on Monday, July 29th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $52.40.

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.