Highland Capital Management LLC Has $4.85 Million Position in Olin Co. (NYSE:OLN)

Highland Capital Management LLC increased its holdings in shares of Olin Co. (NYSE:OLN) by 0.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 89,927 shares of the specialty chemicals company’s stock after acquiring an additional 725 shares during the quarter. Highland Capital Management LLC owned about 0.07% of Olin worth $4,852,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Arbor Capital Management Inc. ADV lifted its position in shares of Olin by 0.5% during the 1st quarter. Arbor Capital Management Inc. ADV now owns 38,729 shares of the specialty chemicals company’s stock valued at $2,224,000 after acquiring an additional 199 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Olin by 0.5% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 42,285 shares of the specialty chemicals company’s stock valued at $1,957,000 after acquiring an additional 216 shares during the period. Captrust Financial Advisors lifted its position in shares of Olin by 3.3% during the 3rd quarter. Captrust Financial Advisors now owns 6,834 shares of the specialty chemicals company’s stock valued at $293,000 after acquiring an additional 217 shares during the period. U.S. Capital Wealth Advisors LLC lifted its position in shares of Olin by 5.8% during the 1st quarter. U.S. Capital Wealth Advisors LLC now owns 4,714 shares of the specialty chemicals company’s stock valued at $246,000 after acquiring an additional 259 shares during the period. Finally, Covestor Ltd lifted its position in shares of Olin by 76.7% during the 3rd quarter. Covestor Ltd now owns 659 shares of the specialty chemicals company’s stock valued at $33,000 after acquiring an additional 286 shares during the period. 88.67% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Barclays upped their price objective on Olin from $49.00 to $57.00 and gave the stock an “equal weight” rating in a research report on Monday, January 29th. UBS Group upped their price objective on Olin from $56.00 to $58.00 and gave the stock a “neutral” rating in a research report on Friday, January 26th. KeyCorp upped their price objective on Olin from $61.00 to $66.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 9th. 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 research report on Tuesday, January 30th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Olin in a research report on Thursday, December 7th. They set a “hold” rating and a $52.00 price objective for the company. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $56.27.

Olin Trading Up 1.9 %

Shares of OLN stock opened at $58.24 on Thursday. The stock has a market cap of $6.97 billion, a price-to-earnings ratio of 16.45, a PEG ratio of 0.31 and a beta of 1.43. The stock has a 50-day moving average of $53.81 and a 200-day moving average of $50.49. The company has a current ratio of 1.29, a quick ratio of 0.73 and a debt-to-equity ratio of 1.14. Olin Co. has a 1-year low of $41.71 and a 1-year high of $59.95.

Olin (NYSE:OLN) last issued its quarterly earnings results on Thursday, January 25th. The specialty chemicals company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.10. The company had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Olin had a return on equity of 18.44% and a net margin of 6.74%. On average, equities research analysts forecast that Olin Co. will post 3.75 earnings per share for the current year.

Olin Dividend Announcement

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

Insider Activity

In related news, VP Brett A. Flaugher sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $52.46, for a total transaction of $786,900.00. Following the completion of the sale, the vice president now owns 8,782 shares of the company’s stock, valued at $460,703.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP Brett A. Flaugher sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $52.46, for a total transaction of $786,900.00. Following the completion of the sale, the vice president now owns 8,782 shares of the company’s stock, valued at $460,703.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Scott Mcdougald Sutton sold 48,896 shares of the firm’s stock in a transaction that occurred 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 directly owns 90,327 shares of the company’s stock, valued at approximately $4,732,231.53. The disclosure for this sale can be found here. Over the last quarter, insiders sold 753,274 shares of company stock valued at $40,434,124. Company insiders own 1.60% of the company’s stock.

Olin Profile

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.