Arnhold LLC Sells 358 Shares of Olin Co. (NYSE:OLN)

Arnhold LLC reduced its stake in Olin Co. (NYSE:OLN) by 0.2% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 224,980 shares of the specialty chemicals company’s stock after selling 358 shares during the quarter. Olin accounts for approximately 1.4% of Arnhold LLC’s portfolio, making the stock its 27th largest holding. Arnhold LLC’s holdings in Olin were worth $12,138,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. SG Americas Securities LLC increased its stake in shares of Olin by 59.2% in the third quarter. SG Americas Securities LLC now owns 24,824 shares of the specialty chemicals company’s stock worth $1,241,000 after buying an additional 9,232 shares during the period. Xponance Inc. boosted its stake in shares of Olin by 3.0% in the 3rd quarter. Xponance Inc. now owns 15,174 shares of the specialty chemicals company’s stock worth $758,000 after buying an additional 444 shares during the last quarter. FinTrust Capital Advisors LLC increased its stake in shares of Olin by 651.4% in the 3rd quarter. FinTrust Capital Advisors LLC now owns 37,569 shares of the specialty chemicals company’s stock worth $1,878,000 after purchasing an additional 32,569 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its position in shares of Olin by 209.4% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 50,657 shares of the specialty chemicals company’s stock valued at $2,532,000 after purchasing an additional 34,285 shares during the period. Finally, Monument Capital Management lifted its holdings in shares of Olin by 1.6% in the third quarter. Monument Capital Management now owns 30,862 shares of the specialty chemicals company’s stock worth $1,543,000 after buying an additional 479 shares in the last quarter. 88.67% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Olin

In other news, VP Valerie A. Peters sold 71,800 shares of the company’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $52.52, for a total value of $3,770,936.00. Following the completion of the transaction, the vice president now owns 19,469 shares in the company, valued at $1,022,511.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Scott Mcdougald Sutton sold 15,000 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $52.50, for a total transaction of $787,500.00. Following the transaction, the chief executive officer now directly owns 75,327 shares of the company’s stock, valued at $3,954,667.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Valerie A. Peters sold 71,800 shares of the stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $52.52, for a total transaction of $3,770,936.00. Following the sale, the vice president now owns 19,469 shares in the company, valued at approximately $1,022,511.88. The disclosure for this sale can be found here. In the last 90 days, insiders sold 150,696 shares of company stock worth $7,906,997. Insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on OLN. Barclays lifted their target price on Olin from $57.00 to $59.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 4th. Bank of America reduced their price objective on Olin from $74.00 to $72.00 and set a “buy” rating on the stock in a research note on Monday. Wells Fargo & Company upped their target price on shares of Olin from $56.00 to $60.00 and gave the company an “equal weight” rating in a report on Wednesday, April 3rd. Citigroup boosted their price objective on Olin from $63.00 to $67.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Finally, The Goldman Sachs Group increased their target price on shares of Olin from $55.00 to $61.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 30th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $60.00.

Olin Stock Performance

Shares of OLN stock traded down $1.26 during trading on Tuesday, reaching $52.28. The company had a trading volume of 1,232,607 shares, compared to its average volume of 1,035,512. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.38 and a quick ratio of 0.80. The firm’s 50 day simple moving average is $55.67 and its two-hundred day simple moving average is $51.73. The company has a market capitalization of $6.25 billion, a PE ratio of 18.81, a PEG ratio of 0.29 and a beta of 1.44. Olin Co. has a one year low of $41.71 and a one year high of $60.60.

Olin (NYSE:OLN) last posted its earnings results on Friday, April 26th. The specialty chemicals company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.02. Olin had a net margin of 5.32% and a return on equity of 14.47%. The business had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter in the previous year, the firm posted $1.16 earnings per share. The firm’s revenue for the quarter was down 11.3% on a year-over-year basis. Sell-side analysts forecast that Olin Co. will post 3.73 earnings per share for the current year.

Olin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Thursday, May 9th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.53%. The ex-dividend date of this dividend is Wednesday, May 8th. Olin’s dividend payout ratio (DPR) is presently 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.