Bayesian Capital Management LP Sells 7,400 Shares of Olin Co. (NYSE:OLN)

Bayesian Capital Management LP reduced its stake in Olin Co. (NYSE:OLN) by 50.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,313 shares of the specialty chemicals company’s stock after selling 7,400 shares during the period. Bayesian Capital Management LP’s holdings in Olin were worth $247,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of OLN. Barclays PLC grew its position in Olin by 37.7% in the third quarter. Barclays PLC now owns 125,913 shares of the specialty chemicals company’s stock valued at $6,042,000 after acquiring an additional 34,485 shares during the period. Franklin Resources Inc. boosted its stake in shares of Olin by 19.2% in the 3rd quarter. Franklin Resources Inc. now owns 1,073,087 shares of the specialty chemicals company’s stock valued at $51,015,000 after purchasing an additional 172,768 shares in the last quarter. First Hawaiian Bank grew its holdings in shares of Olin by 9.0% in the 4th quarter. First Hawaiian Bank now owns 21,642 shares of the specialty chemicals company’s stock worth $732,000 after purchasing an additional 1,785 shares during the last quarter. Harbor Capital Advisors Inc. increased its position in shares of Olin by 55.5% during the 4th quarter. Harbor Capital Advisors Inc. now owns 143,062 shares of the specialty chemicals company’s stock worth $4,835,000 after purchasing an additional 51,051 shares in the last quarter. Finally, Wedmont Private Capital bought a new position in Olin during the 4th quarter valued at about $231,000. 88.67% of the stock is owned by institutional investors and hedge funds.

Olin Price Performance

OLN opened at $21.41 on Friday. The company has a fifty day moving average price of $22.52 and a two-hundred day moving average price of $30.98. The firm has a market capitalization of $2.46 billion, a PE ratio of 23.78 and a beta of 1.56. Olin Co. has a 52 week low of $17.66 and a 52 week high of $57.10. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.77 and a current ratio of 1.27.

Olin (NYSE:OLN) last released its quarterly earnings data on Thursday, May 1st. The specialty chemicals company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.14. Olin had a return on equity of 5.10% and a net margin of 1.66%. The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter in the prior year, the company posted $0.40 earnings per share. The firm’s revenue was up 1.2% on a year-over-year basis. As a group, analysts anticipate that Olin Co. will post 1.38 earnings per share for the current year.

Olin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Thursday, May 15th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.74%. The ex-dividend date of this dividend is Thursday, May 15th. Olin’s payout ratio is 156.86%.

Analysts Set New Price Targets

Several research firms have recently weighed in on OLN. Bank of America raised shares of Olin from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $48.00 to $40.00 in a report on Tuesday, January 14th. KeyCorp cut their price objective on Olin from $40.00 to $34.00 and set an “overweight” rating for the company in a research report on Monday, April 14th. Royal Bank of Canada decreased their target price on Olin from $28.00 to $25.00 and set a “sector perform” rating on the stock in a report on Monday. The Goldman Sachs Group cut their price target on Olin from $33.00 to $25.00 and set a “neutral” rating for the company in a report on Tuesday. Finally, Wells Fargo & Company increased their price objective on shares of Olin from $19.00 to $22.00 and gave the stock an “equal weight” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $28.60.

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.