Wedge Capital Management L L P NC Acquires 4,685 Shares of Olin Co. (NYSE:OLN)

Wedge Capital Management L L P NC increased its holdings in shares of Olin Co. (NYSE:OLN) by 14.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 37,056 shares of the specialty chemicals company’s stock after purchasing an additional 4,685 shares during the period. Wedge Capital Management L L P NC’s holdings in Olin were worth $1,747,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Hotchkis & Wiley Capital Management LLC boosted its holdings in shares of Olin by 3.2% in the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 6,602,331 shares of the specialty chemicals company’s stock valued at $356,196,000 after buying an additional 203,260 shares in the last quarter. Boston Partners boosted its holdings in Olin by 7.7% in the first quarter. Boston Partners now owns 5,414,265 shares of the specialty chemicals company’s stock worth $317,897,000 after acquiring an additional 384,888 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Olin by 3.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,635,983 shares of the specialty chemicals company’s stock valued at $196,167,000 after acquiring an additional 126,587 shares in the last quarter. Balyasny Asset Management L.P. raised its position in shares of Olin by 218.6% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,649,273 shares of the specialty chemicals company’s stock valued at $88,978,000 after purchasing an additional 1,131,674 shares during the last quarter. Finally, Norges Bank acquired a new stake in Olin in the 4th quarter worth approximately $76,125,000. 88.67% of the stock is owned by hedge funds and other institutional investors.

Olin Trading Up 0.0 %

OLN traded up $0.02 during mid-day trading on Friday, hitting $42.06. 164,890 shares of the stock were exchanged, compared to its average volume of 1,116,825. The company has a market cap of $5.02 billion, a PE ratio of 15.12, a PEG ratio of 0.96 and a beta of 1.44. The company has a current ratio of 1.43, a quick ratio of 0.82 and a debt-to-equity ratio of 1.29. The firm’s fifty day moving average is $46.61 and its two-hundred day moving average is $51.81. Olin Co. has a 1-year low of $40.26 and a 1-year high of $60.60.

Olin (NYSE:OLN) last issued its quarterly earnings results on Thursday, July 25th. The specialty chemicals company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.08). The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.71 billion. Olin had a return on equity of 11.73% and a net margin of 4.26%. The firm’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.13 EPS. Equities analysts forecast that Olin Co. will post 1.61 earnings per share for the current fiscal year.

Olin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Thursday, August 8th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend is Thursday, August 8th. Olin’s payout ratio is currently 28.78%.

Analysts Set New Price Targets

OLN has been the subject of a number of research analyst reports. Bank of America lowered Olin from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $62.00 to $51.00 in a research note on Monday, July 29th. UBS Group dropped their target price on Olin from $59.00 to $51.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. Piper Sandler reduced their price target on shares of Olin from $75.00 to $57.00 and set an “overweight” rating for the company in a research report on Tuesday, July 30th. Barclays dropped their price objective on shares of Olin from $59.00 to $49.00 and set an “equal weight” rating on the stock in a report on Monday, July 29th. Finally, Wells Fargo & Company reduced their target price on shares of Olin from $50.00 to $48.00 and set an “equal weight” rating for the company in a report on Monday, July 29th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $53.27.

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.