Raymond James Financial Services Advisors Inc. Has $1.08 Million Position in Olin Co. (NYSE:OLN)

Raymond James Financial Services Advisors Inc. lowered its stake in shares of Olin Co. (NYSE:OLNGet Rating) by 36.3% in the third quarter, Holdings Channel reports. The institutional investor owned 25,104 shares of the specialty chemicals company’s stock after selling 14,300 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Olin were worth $1,076,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Naples Global Advisors LLC raised its position in shares of Olin by 8.0% during the third quarter. Naples Global Advisors LLC now owns 8,140 shares of the specialty chemicals company’s stock valued at $349,000 after buying an additional 600 shares during the last quarter. Louisiana State Employees Retirement System acquired a new position in Olin in the third quarter worth about $1,539,000. Roosevelt Investment Group LLC raised its position in Olin by 26.7% in the third quarter. Roosevelt Investment Group LLC now owns 19,000 shares of the specialty chemicals company’s stock worth $815,000 after purchasing an additional 4,000 shares in the last quarter. Ritholtz Wealth Management raised its position in Olin by 15.2% in the third quarter. Ritholtz Wealth Management now owns 10,243 shares of the specialty chemicals company’s stock worth $439,000 after purchasing an additional 1,351 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its position in Olin by 1.5% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 54,160 shares of the specialty chemicals company’s stock worth $2,322,000 after purchasing an additional 805 shares in the last quarter. Institutional investors and hedge funds own 85.77% of the company’s stock.

Insider Activity

In other news, COO James A. Varilek sold 50,000 shares of the stock in a transaction that occurred on Friday, November 18th. The shares were sold at an average price of $56.56, for a total transaction of $2,828,000.00. Following the sale, the chief operating officer now directly owns 17,761 shares of the company’s stock, valued at $1,004,562.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 9.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on OLN shares. KeyCorp increased their price target on shares of Olin from $56.00 to $58.00 and gave the stock an “overweight” rating in a research report on Friday, October 28th. Morgan Stanley lowered shares of Olin from an “equal weight” rating to an “underweight” rating and set a $50.00 price target for the company. in a research report on Tuesday, January 10th. Credit Suisse Group increased their price target on shares of Olin from $40.00 to $45.00 and gave the stock an “underperform” rating in a research report on Thursday, October 27th. Citigroup increased their price target on shares of Olin to $55.00 in a research report on Tuesday, November 1st. Finally, The Goldman Sachs Group began coverage on shares of Olin in a research note on Thursday, October 13th. They set a “buy” rating and a $56.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Olin has a consensus rating of “Moderate Buy” and an average price target of $58.73.

Olin Price Performance

Shares of Olin stock opened at $56.39 on Friday. The company has a current ratio of 1.41, a quick ratio of 0.83 and a debt-to-equity ratio of 1.01. The stock has a market capitalization of $7.72 billion, a price-to-earnings ratio of 6.06, a P/E/G ratio of 0.95 and a beta of 1.42. Olin Co. has a 1-year low of $41.33 and a 1-year high of $67.25. The firm’s 50-day moving average price is $55.16 and its two-hundred day moving average price is $52.32.

Olin (NYSE:OLNGet Rating) last released its quarterly earnings results on Wednesday, October 26th. The specialty chemicals company reported $2.18 EPS for the quarter, beating the consensus estimate of $1.86 by $0.32. Olin had a net margin of 14.62% and a return on equity of 56.96%. The business had revenue of $2.32 billion for the quarter, compared to analysts’ expectations of $2.38 billion. On average, equities analysts predict that Olin Co. will post 8.84 earnings per share for the current fiscal year.

Olin Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 9th. Stockholders of record on Thursday, November 10th were paid a dividend of $0.20 per share. The ex-dividend date was Wednesday, November 9th. This represents a $0.80 annualized dividend and a dividend yield of 1.42%. Olin’s dividend payout ratio (DPR) is currently 8.59%.

Olin Company Profile

(Get Rating)

Olin Corp. engages in manufacturing of chemicals products. It operates through the following segments: Chlor Alkali Products and Vinyls, Epoxy, and Winchester. The Chlor Alkali Products and Vinyls segment manufactures and sells chlorine and caustic soda, ethylene dichloride and vinyl chloride monomer, methyl chloride, methylene chloride, chloroform, carbon tetrachloride, perchloroethylene, trichloroethylene and vinylidene chloride, hydrochloric acid, hydrogen, bleach products and potassium hydroxide.

Further Reading

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Institutional Ownership by Quarter for Olin (NYSE:OLN)

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