MQS Management LLC Invests $299,000 in Olin Co. (NYSE:OLN)

MQS Management LLC purchased a new stake in shares of Olin Co. (NYSE:OLN) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 6,342 shares of the specialty chemicals company’s stock, valued at approximately $299,000.

A number of other institutional investors also recently bought and sold shares of OLN. Hotchkis & Wiley Capital Management LLC grew its holdings in shares of Olin by 3.2% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 6,602,331 shares of the specialty chemicals company’s stock worth $356,196,000 after acquiring an additional 203,260 shares during the period. Boston Partners grew its stake 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 purchasing an additional 384,888 shares during the period. Dimensional Fund Advisors LP raised its holdings in Olin by 5.5% in the second quarter. Dimensional Fund Advisors LP now owns 3,741,007 shares of the specialty chemicals company’s stock worth $176,396,000 after purchasing an additional 194,755 shares in the last quarter. Balyasny Asset Management L.P. lifted its position in Olin by 218.6% during the fourth 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 buying an additional 1,131,674 shares during the period. Finally, Norges Bank bought a new stake in shares of Olin during the 4th quarter valued at $76,125,000. 88.67% of the stock is owned by institutional investors.

Olin Trading Down 1.8 %

NYSE:OLN opened at $44.10 on Friday. The company has a 50 day simple moving average of $43.84 and a two-hundred day simple moving average of $50.11. The company has a market cap of $5.18 billion, a PE ratio of 15.86, a price-to-earnings-growth ratio of 0.94 and a beta of 1.41. The company has a current ratio of 1.43, a quick ratio of 0.82 and a debt-to-equity ratio of 1.29. Olin Co. has a 12 month low of $39.47 and a 12 month high of $60.60.

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

Olin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Thursday, August 8th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date was Thursday, August 8th. Olin’s payout ratio is 28.78%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on OLN. 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 research report on Tuesday, July 30th. UBS Group cut their price target on Olin from $59.00 to $51.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 9th. Bank of America cut Olin from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $62.00 to $51.00 in a research note on Monday, July 29th. JPMorgan Chase & Co. raised Olin from a “neutral” rating to an “overweight” rating and set a $55.00 target price on the stock in a research note on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on Olin from $57.00 to $48.00 and set a “hold” rating for the company in a research report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Olin currently has a consensus rating of “Hold” and an average target price of $52.73.

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.