B. Riley Wealth Advisors Inc. Sells 24,879 Shares of Olin Co. (NYSE:OLN)

B. Riley Wealth Advisors Inc. reduced its stake in shares of Olin Co. (NYSE:OLNFree Report) by 36.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,880 shares of the specialty chemicals company’s stock after selling 24,879 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Olin were worth $2,143,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in OLN. Baystate Wealth Management LLC lifted its position 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 valued at $25,000 after buying an additional 300 shares in the last quarter. Salem Investment Counselors Inc. purchased a new position in Olin in the 1st quarter worth approximately $26,000. Covestor Ltd lifted its holdings in Olin by 76.7% in the 3rd quarter. Covestor Ltd now owns 659 shares of the specialty chemicals company’s stock worth $33,000 after purchasing an additional 286 shares in the last quarter. Quarry LP lifted its holdings in Olin by 508.6% in 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 in the last quarter. Finally, Motco purchased a new position in Olin in the 3rd quarter worth approximately $40,000. 85.69% of the stock is owned by hedge funds and other institutional investors.

Olin Stock Performance

Shares of Olin stock opened at $58.24 on Friday. The stock’s fifty day moving average is $53.00 and its two-hundred day moving average is $50.32. The company has a market capitalization of $7.00 billion, a PE ratio of 16.45, a price-to-earnings-growth ratio of 0.32 and a beta of 1.43. 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 Co. has a 52 week low of $41.71 and a 52 week high of $59.95.

Olin (NYSE:OLNGet Free Report) last announced its quarterly earnings data on Thursday, January 25th. The specialty chemicals company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.20 by $0.10. The company had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.50 billion. Olin had a return on equity of 18.44% and a net margin of 6.74%. As a group, analysts expect that Olin Co. will post 3.75 earnings per share for the current year.

Olin Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, March 7th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date of this dividend was Wednesday, March 6th. Olin’s payout ratio is 22.60%.

Analysts Set New Price Targets

A number of research analysts recently commented on OLN shares. KeyCorp boosted their price target on Olin from $61.00 to $66.00 and gave the stock an “overweight” rating in a report on Tuesday, January 9th. Barclays boosted 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. Deutsche Bank Aktiengesellschaft began coverage on Olin in a report on Thursday, December 7th. They issued a “hold” rating and a $52.00 price target on the stock. The Goldman Sachs Group upped their price objective on Olin from $55.00 to $61.00 and gave the stock a “neutral” rating in a report on Tuesday, January 30th. Finally, UBS Group upped their price objective on Olin from $56.00 to $58.00 and gave the stock a “neutral” rating in a report on Friday, January 26th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Olin has a consensus rating of “Hold” and an average target price of $56.27.

Check Out Our Latest Stock Analysis on Olin

Insider Transactions at Olin

In other news, CEO Scott Mcdougald Sutton sold 48,896 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $52.39, for a total transaction of $2,561,661.44. Following the transaction, the chief executive officer now owns 90,327 shares of the company’s stock, valued at approximately $4,732,231.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, VP Valerie A. Peters sold 71,800 shares of the company’s stock in a transaction 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 completion of the sale, 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 48,896 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $52.39, for a total value of $2,561,661.44. Following the sale, the chief executive officer now owns 90,327 shares of the company’s stock, valued at $4,732,231.53. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 753,274 shares of company stock valued at $40,434,124. 1.60% of the stock is currently owned by corporate insiders.

About Olin

(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.

Further Reading

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Institutional Ownership by Quarter for Olin (NYSE:OLN)

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