Kingsview Wealth Management LLC Lowers Position in Olin Co. (NYSE:OLN)

Kingsview Wealth Management LLC cut its stake in Olin Co. (NYSE:OLNFree Report) by 17.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,567 shares of the specialty chemicals company’s stock after selling 1,383 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Olin were worth $328,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Baystate Wealth Management LLC grew its holdings in shares of Olin by 154.6% during the 3rd quarter. Baystate Wealth Management LLC now owns 494 shares of the specialty chemicals company’s stock worth $25,000 after purchasing an additional 300 shares during the period. Salem Investment Counselors Inc. purchased a new position in shares of Olin during the 1st quarter worth $26,000. Quarry LP grew its holdings in shares of Olin by 508.6% during the 1st quarter. Quarry LP now owns 706 shares of the specialty chemicals company’s stock worth $39,000 after purchasing an additional 590 shares during the period. Motco purchased a new position in shares of Olin during the 3rd quarter worth $40,000. Finally, ORG Partners LLC purchased a new position in shares of Olin during the 3rd quarter worth $44,000. 85.69% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Olin news, VP Valerie A. Peters sold 71,800 shares of Olin 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 transaction, the vice president now owns 19,469 shares of the company’s stock, valued at $1,022,511.88. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Olin news, VP Valerie A. Peters sold 71,800 shares of Olin stock in a transaction that occurred 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 transaction, the vice president now directly owns 19,469 shares in the company, valued at approximately $1,022,511.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Scott Mcdougald Sutton sold 539,328 shares of Olin stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $53.96, for a total value of $29,102,138.88. Following the completion of the transaction, the chief executive officer now owns 47,620 shares in the company, valued at $2,569,575.20. The disclosure for this sale can be found here. Insiders have sold a total of 674,378 shares of company stock valued at $36,298,062 over the last quarter. Company insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on OLN shares. Barclays increased their price target on Olin from $49.00 to $57.00 and gave the stock an “equal weight” rating in a report on Monday, January 29th. JPMorgan Chase & Co. cut Olin from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $75.00 to $48.00 in a report on Monday, October 30th. Morgan Stanley lowered their target price on Olin from $50.00 to $38.00 and set an “underweight” rating for the company in a report on Monday, October 30th. Royal Bank of Canada raised their target price on Olin from $58.00 to $64.00 and gave the company an “outperform” rating in a report on Monday, January 29th. Finally, The Goldman Sachs Group raised their target price on Olin from $55.00 to $61.00 and gave the company a “neutral” rating in a report on Tuesday, January 30th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $56.27.

Get Our Latest Stock Report on Olin

Olin Trading Up 1.6 %

OLN opened at $50.63 on Wednesday. The firm has a market cap of $6.20 billion, a price-to-earnings ratio of 14.30, a price-to-earnings-growth ratio of 0.27 and a beta of 1.44. Olin Co. has a 52 week low of $41.71 and a 52 week high of $63.06. The business’s 50 day moving average is $51.74 and its two-hundred day moving average is $50.93. The company has a quick ratio of 0.73, a current ratio of 1.29 and a debt-to-equity ratio of 1.14.

Olin Profile

(Free Report)

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.

Read More

Want to see what other hedge funds are holding OLN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Olin Co. (NYSE:OLNFree Report).

Institutional Ownership by Quarter for Olin (NYSE:OLN)

Receive News & Ratings for Olin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Olin and related companies with MarketBeat.com's FREE daily email newsletter.