Belpointe Asset Management LLC Sells 1,347 Shares of Olin Co. (NYSE:OLN)

Belpointe Asset Management LLC lowered its stake in shares of Olin Co. (NYSE:OLN – Get Rating) by 50.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,301 shares of the specialty chemicals company’s stock after selling 1,347 shares during the quarter. Belpointe Asset Management LLC’s holdings in Olin were worth $69,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Salem Investment Counselors Inc. bought a new position in Olin in the 1st quarter valued at about $26,000. Bessemer Group Inc. bought a new position in shares of Olin in the 3rd quarter valued at $27,000. EverSource Wealth Advisors LLC acquired a new position in Olin during the third quarter worth about $36,000. Quadrant Capital Group LLC lifted its holdings in shares of Olin by 52.2% in the third quarter. Quadrant Capital Group LLC now owns 985 shares of the specialty chemicals company’s stock worth $42,000 after acquiring an additional 338 shares during the last quarter. Finally, Huntington National Bank grew its holdings in shares of Olin by 50,000.0% during the 3rd quarter. Huntington National Bank now owns 1,002 shares of the specialty chemicals company’s stock valued at $43,000 after purchasing an additional 1,000 shares during the last quarter. Institutional investors own 85.77% of the company’s stock.

Olin Stock Performance

Shares of OLN opened at $54.12 on Monday. Olin Co. has a 52 week low of $41.33 and a 52 week high of $67.25. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.84 and a current ratio of 1.60. The stock has a 50 day moving average price of $54.37 and a two-hundred day moving average price of $56.22. The firm has a market capitalization of $7.00 billion, a P/E ratio of 7.19, a P/E/G ratio of 0.98 and a beta of 1.44.

Olin (NYSE:OLN – Get Rating) last issued its quarterly earnings data on Friday, April 28th. The specialty chemicals company reported $1.16 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.12). The company had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $2.05 billion. Olin had a net margin of 12.45% and a return on equity of 42.24%. Olin’s revenue was down 25.1% on a year-over-year basis. During the same quarter last year, the business posted $2.48 earnings per share. Equities analysts forecast that Olin Co. will post 5.45 earnings per share for the current fiscal year.

Olin Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 9th. Investors of record on Thursday, May 11th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date is Wednesday, May 10th. Olin’s dividend payout ratio (DPR) is currently 10.62%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on OLN shares. The Goldman Sachs Group boosted their target price on shares of Olin from $65.00 to $74.00 and gave the stock a “buy” rating in a research note on Tuesday, January 31st. Barclays boosted their price target on Olin from $65.00 to $70.00 and gave the stock an “overweight” rating in a report on Monday, January 30th. Wells Fargo & Company lifted their target price on shares of Olin from $66.00 to $70.00 and gave the stock an “overweight” rating in a research report on Monday, January 30th. Credit Suisse Group raised their price target on shares of Olin from $49.00 to $52.00 and gave the company an “underperform” rating in a research note on Friday, January 27th. Finally, StockNews.com raised Olin from a “hold” rating to a “buy” rating in a report on Thursday, May 11th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Olin currently has an average rating of “Moderate Buy” and an average target price of $67.67.

About Olin

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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.