Balyasny Asset Management L.P. Boosts Stock Position in Olin Co. (NYSE:OLN)

Balyasny Asset Management L.P. raised its position in shares of Olin Co. (NYSE:OLN) by 0.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,371,246 shares of the specialty chemicals company’s stock after buying an additional 8,092 shares during the period. Balyasny Asset Management L.P.’s holdings in Olin were worth $46,348,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Thrivent Financial for Lutherans lifted its position in Olin by 5,746.2% during the fourth quarter. Thrivent Financial for Lutherans now owns 1,613,796 shares of the specialty chemicals company’s stock valued at $54,546,000 after acquiring an additional 1,586,192 shares during the last quarter. Norges Bank acquired a new position in shares of Olin during the fourth quarter worth $47,887,000. Fuller & Thaler Asset Management Inc. lifted its holdings in shares of Olin by 11.5% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 4,543,844 shares of the specialty chemicals company’s stock valued at $153,582,000 after purchasing an additional 467,680 shares during the last quarter. Marshall Wace LLP boosted its position in shares of Olin by 1,960.7% in the 4th quarter. Marshall Wace LLP now owns 344,962 shares of the specialty chemicals company’s stock worth $11,660,000 after purchasing an additional 328,222 shares in the last quarter. Finally, Pzena Investment Management LLC grew its stake in Olin by 7.4% during the 4th quarter. Pzena Investment Management LLC now owns 3,709,611 shares of the specialty chemicals company’s stock worth $125,385,000 after buying an additional 256,903 shares during the last quarter. 88.67% of the stock is currently owned by institutional investors.

Olin Stock Down 6.7 %

Shares of OLN stock opened at $20.71 on Tuesday. Olin Co. has a twelve month low of $17.66 and a twelve month high of $57.10. The stock has a market cap of $2.38 billion, a P/E ratio of 23.01 and a beta of 1.56. The stock has a 50 day moving average of $22.76 and a 200 day moving average of $31.29. The company has a current ratio of 1.27, a quick ratio of 0.77 and a debt-to-equity ratio of 1.32.

Olin (NYSE:OLN) last posted its earnings results on Thursday, May 1st. The specialty chemicals company reported $0.04 earnings per share 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 analyst estimates of $1.58 billion. During the same period in the previous year, the firm earned $0.40 EPS. The business’s quarterly revenue was up 1.2% on a year-over-year basis. As a group, sell-side analysts expect that Olin Co. will post 1.38 EPS for the current year.

Olin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders 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 dividend yield of 3.86%. The ex-dividend date of this dividend is Thursday, May 15th. Olin’s payout ratio is currently 156.86%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on OLN shares. Barclays lowered their price target on Olin from $34.00 to $28.00 and set an “equal weight” rating for the company in a report on Tuesday, April 1st. JPMorgan Chase & Co. cut shares of Olin from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $50.00 to $28.00 in a research note on Thursday, February 27th. Wells Fargo & Company cut their price target on shares of Olin from $25.00 to $19.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 9th. UBS Group lifted their price objective on shares of Olin from $21.00 to $22.00 and gave the stock a “neutral” rating in a research note on Friday. Finally, BMO Capital Markets cut their target price on Olin from $44.00 to $34.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $30.53.

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.