Lighthouse Investment Partners LLC Has $2.54 Million Stock Position in Olin Co. (NYSE:OLN)

Lighthouse Investment Partners LLC lifted its holdings in shares of Olin Co. (NYSE:OLN) by 24.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 75,000 shares of the specialty chemicals company’s stock after purchasing an additional 14,771 shares during the quarter. Lighthouse Investment Partners LLC owned approximately 0.06% of Olin worth $2,535,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of OLN. Barclays PLC grew its stake in Olin by 37.7% in the 3rd quarter. Barclays PLC now owns 125,913 shares of the specialty chemicals company’s stock valued at $6,042,000 after buying an additional 34,485 shares during the last quarter. Wedmont Private Capital acquired a new position in Olin in the 4th quarter valued at $231,000. Assenagon Asset Management S.A. acquired a new position in Olin in the 4th quarter valued at $4,264,000. Wedge Capital Management L L P NC grew its stake in Olin by 16.8% in the 4th quarter. Wedge Capital Management L L P NC now owns 59,134 shares of the specialty chemicals company’s stock valued at $1,999,000 after buying an additional 8,521 shares during the last quarter. Finally, First Citizens Bank & Trust Co. grew its stake in Olin by 8.5% in the 4th quarter. First Citizens Bank & Trust Co. now owns 6,930 shares of the specialty chemicals company’s stock valued at $234,000 after buying an additional 542 shares during the last quarter. Institutional investors and hedge funds own 88.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Morgan Stanley lowered their target price on shares of Olin from $28.00 to $20.00 and set an “underweight” rating on the stock in a research note on Monday. Royal Bank of Canada lowered their target price on shares of Olin from $28.00 to $25.00 and set a “sector perform” rating on the stock in a research note on Monday, May 5th. Citigroup reduced their price target on shares of Olin from $34.00 to $30.00 and set a “buy” rating for the company in a report on Thursday, March 27th. JPMorgan Chase & Co. reduced their price target on shares of Olin from $28.00 to $20.00 and set a “neutral” rating for the company in a report on Tuesday, May 6th. Finally, Piper Sandler reduced their price target on shares of Olin from $33.00 to $26.00 and set a “neutral” rating for the company in a report on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $28.07.

Olin Trading Down 1.7%

Shares of OLN stock opened at $22.47 on Wednesday. Olin Co. has a 12-month low of $17.66 and a 12-month high of $57.10. The company has a market capitalization of $2.59 billion, a P/E ratio of 24.97 and a beta of 1.56. The firm has a 50-day moving average price of $22.38 and a 200 day moving average price of $30.42. The company has a quick ratio of 0.77, a current ratio of 1.27 and a debt-to-equity ratio of 1.32.

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

Olin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Thursday, May 15th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.56%. The ex-dividend date of this dividend is Thursday, May 15th. Olin’s dividend payout ratio is currently 156.86%.

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.