Goldman Sachs Group Inc. Boosts Stake in Olin Co. (NYSE:OLN)

Goldman Sachs Group Inc. grew its position in shares of Olin Co. (NYSE:OLN) by 12.0% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 468,175 shares of the specialty chemicals company’s stock after acquiring an additional 50,167 shares during the period. Goldman Sachs Group Inc. owned about 0.39% of Olin worth $25,258,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Boston Partners grew its stake in shares of Olin by 122.8% in the 4th quarter. Boston Partners now owns 5,029,377 shares of the specialty chemicals company’s stock worth $271,152,000 after buying an additional 2,772,274 shares during the last quarter. Norges Bank purchased a new stake in shares of Olin in the 4th quarter worth approximately $76,125,000. Balyasny Asset Management L.P. grew its stake 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 worth $88,978,000 after buying an additional 1,131,674 shares during the last quarter. Luminus Management LLC grew its stake in shares of Olin by 119.6% in the 3rd quarter. Luminus Management LLC now owns 524,753 shares of the specialty chemicals company’s stock worth $26,227,000 after buying an additional 285,789 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of Olin by 67.6% in the 4th quarter. Franklin Resources Inc. now owns 663,202 shares of the specialty chemicals company’s stock worth $35,780,000 after buying an additional 267,460 shares during the last quarter. Hedge funds and other institutional investors own 88.67% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on OLN shares. Wells Fargo & Company upped their price target on Olin from $56.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 3rd. Stifel Nicolaus increased their target price on Olin from $68.00 to $69.00 and gave the company a “buy” rating in a research note on Monday, April 29th. Piper Sandler increased their target price on Olin from $72.00 to $75.00 and gave the company an “overweight” rating in a research note on Monday, April 29th. Barclays increased their target price on Olin from $57.00 to $59.00 and gave the company an “equal weight” rating in a research note on Thursday, April 4th. Finally, KeyCorp cut their target price on Olin from $78.00 to $73.00 and set an “overweight” rating on the stock in a research note on Monday, April 29th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $60.00.

Olin Price Performance

Shares of Olin stock opened at $49.35 on Tuesday. Olin Co. has a one year low of $41.71 and a one year high of $60.60. The stock’s fifty day moving average is $52.99 and its 200 day moving average is $53.61. The stock has a market cap of $5.89 billion, a P/E ratio of 17.75, a P/E/G ratio of 0.29 and a beta of 1.47. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.80 and a current ratio of 1.38.

Olin (NYSE:OLN) last announced its earnings results on Friday, April 26th. The specialty chemicals company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.02. Olin had a return on equity of 14.47% and a net margin of 5.32%. The company had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same period last year, the firm earned $1.16 EPS. Olin’s revenue for the quarter was down 11.3% compared to the same quarter last year. Sell-side analysts anticipate that Olin Co. will post 3.66 earnings per share for the current year.

Olin Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Thursday, May 9th were issued a $0.20 dividend. The ex-dividend date was Wednesday, May 8th. This represents a $0.80 dividend on an annualized basis and a yield of 1.62%. Olin’s dividend payout ratio is currently 28.78%.

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.