WealthTrust Axiom LLC Sells 2,500 Shares of Olin Co. (NYSE:OLN)

WealthTrust Axiom LLC decreased its stake in shares of Olin Co. (NYSE:OLN) by 7.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 30,186 shares of the specialty chemicals company’s stock after selling 2,500 shares during the quarter. WealthTrust Axiom LLC’s holdings in Olin were worth $1,629,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of OLN. South Dakota Investment Council increased its holdings in shares of Olin by 279.8% in the fourth quarter. South Dakota Investment Council now owns 60,392 shares of the specialty chemicals company’s stock worth $3,258,000 after purchasing an additional 44,492 shares during the last quarter. Quantbot Technologies LP boosted its position in shares of Olin by 153.2% during the 3rd quarter. Quantbot Technologies LP now owns 24,674 shares of the specialty chemicals company’s stock valued at $1,233,000 after acquiring an additional 14,928 shares during the last quarter. Coombe Bender & Co LLC increased its position in Olin by 20.8% in the third quarter. Coombe Bender & Co LLC now owns 90,977 shares of the specialty chemicals company’s stock worth $4,547,000 after purchasing an additional 15,645 shares during the last quarter. AdvisorShares Investments LLC purchased a new stake in Olin during the third quarter valued at $361,000. Finally, Cerity Partners LLC bought a new position in Olin during the fourth quarter valued at $2,613,000. 88.67% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on OLN shares. Bank of America decreased their target price on shares of Olin from $74.00 to $72.00 and set a “buy” rating on the stock in a research report on Monday. Citigroup lifted their target price on Olin from $63.00 to $67.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Barclays increased their price target on Olin from $57.00 to $59.00 and gave the company an “equal weight” rating in a report on Thursday, April 4th. Stifel Nicolaus raised their target price on shares of Olin from $68.00 to $69.00 and gave the stock a “buy” rating in a report on Monday. Finally, Royal Bank of Canada cut their price target on shares of Olin from $69.00 to $63.00 and set an “outperform” rating on the stock in a report on Monday. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $60.00.

Insider Buying and Selling

In other Olin news, CEO Scott Mcdougald Sutton sold 15,000 shares of the 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 completion of the sale, 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 accessible through this link. In other news, CEO Scott Mcdougald Sutton sold 15,000 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was 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 sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Valerie A. Peters sold 71,800 shares of the firm’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $52.52, for a total value of $3,770,936.00. Following the completion of the sale, the vice president now directly owns 19,469 shares of the company’s stock, valued at approximately $1,022,511.88. The disclosure for this sale can be found here. Insiders sold 150,696 shares of company stock worth $7,906,997 in the last three months. 1.80% of the stock is owned by insiders.

Olin Trading Down 2.4 %

Shares of NYSE OLN traded down $1.28 during trading hours on Tuesday, reaching $52.26. The stock had a trading volume of 716,859 shares, compared to its average volume of 1,029,000. The business’s fifty day moving average price is $55.65 and its two-hundred day moving average price is $51.70. The firm has a market cap of $6.25 billion, a price-to-earnings ratio of 19.26, a P/E/G ratio of 0.29 and a beta of 1.44. Olin Co. has a 52-week low of $41.71 and a 52-week high of $60.60. The company has a current ratio of 1.38, a quick ratio of 0.80 and a debt-to-equity ratio of 1.22.

Olin (NYSE:OLN) last posted its quarterly earnings results on Friday, April 26th. The specialty chemicals company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.02. The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.65 billion. Olin had a return on equity of 14.47% and a net margin of 5.32%. The business’s revenue was down 11.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.16 EPS. Analysts expect that Olin Co. will post 3.73 EPS for the current fiscal year.

Olin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Thursday, May 9th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, May 8th. This represents a $0.80 dividend on an annualized basis and a yield of 1.53%. Olin’s dividend payout ratio is currently 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.