AQR Capital Management LLC Increases Stock Position in Olin Co. (NYSE:OLN)

AQR Capital Management LLC grew its stake in Olin Co. (NYSE:OLN) by 429.8% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 610,153 shares of the specialty chemicals company’s stock after acquiring an additional 494,976 shares during the period. AQR Capital Management LLC owned about 0.51% of Olin worth $28,769,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. LRI Investments LLC purchased a new stake in Olin in the first quarter valued at approximately $28,000. EverSource Wealth Advisors LLC raised its holdings in shares of Olin by 4,375.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 537 shares of the specialty chemicals company’s stock valued at $32,000 after buying an additional 525 shares during the period. nVerses Capital LLC acquired a new position in Olin during the 2nd quarter worth about $33,000. Quarry LP purchased a new position in Olin during the 4th quarter valued at about $50,000. Finally, Headlands Technologies LLC acquired a new position in Olin in the 1st quarter valued at about $69,000. 88.67% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

OLN has been the topic of several research reports. BMO Capital Markets began coverage on shares of Olin in a research report on Tuesday, September 3rd. They set a “market perform” rating and a $50.00 price target on the stock. KeyCorp decreased their price target on shares of Olin from $69.00 to $62.00 and set an “overweight” rating for the company in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft cut their price objective on Olin from $57.00 to $48.00 and set a “hold” rating on the stock in a research report on Monday, July 29th. Piper Sandler decreased their target price on Olin from $75.00 to $57.00 and set an “overweight” rating for the company in a report on Tuesday, July 30th. Finally, Barclays cut their price target on Olin from $59.00 to $49.00 and set an “equal weight” rating on the stock in a report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $52.73.

Olin Trading Up 0.9 %

NYSE OLN opened at $48.97 on Monday. The firm’s fifty day moving average price is $43.58 and its 200 day moving average price is $49.73. Olin Co. has a 12 month low of $39.47 and a 12 month high of $60.60. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.43 and a quick ratio of 0.82. The company has a market capitalization of $5.76 billion, a price-to-earnings ratio of 17.62, a price-to-earnings-growth ratio of 1.00 and a beta of 1.41.

Olin (NYSE:OLN) last released its quarterly earnings results on Thursday, July 25th. The specialty chemicals company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.08). The firm 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 company’s quarterly revenue was down 3.5% on a year-over-year basis. During the same period last year, the firm earned $1.13 EPS. On average, sell-side analysts expect that Olin Co. will post 1.61 earnings per share for the current fiscal year.

Olin Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Thursday, August 8th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $0.80 annualized dividend and a dividend yield of 1.63%. Olin’s dividend payout ratio (DPR) is 28.78%.

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.