Raymond James Financial Services Advisors Inc. Has $955,000 Stock Holdings in Olin Co. (NYSE:OLN)

Raymond James Financial Services Advisors Inc. trimmed its position in shares of Olin Co. (NYSE:OLN) by 65.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,704 shares of the specialty chemicals company’s stock after selling 32,953 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Olin were worth $955,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Baystate Wealth Management LLC lifted its stake in shares of Olin by 154.6% in the third quarter. Baystate Wealth Management LLC now owns 494 shares of the specialty chemicals company’s stock worth $25,000 after acquiring an additional 300 shares during the period. Salem Investment Counselors Inc. acquired a new position in shares of Olin in the first quarter worth approximately $26,000. Covestor Ltd lifted its stake in shares of Olin by 76.7% in the third quarter. Covestor Ltd now owns 659 shares of the specialty chemicals company’s stock worth $33,000 after acquiring an additional 286 shares during the period. Quarry LP lifted its stake in shares of Olin by 508.6% in the first quarter. Quarry LP now owns 706 shares of the specialty chemicals company’s stock worth $39,000 after acquiring an additional 590 shares during the period. Finally, Motco acquired a new position in shares of Olin in the third quarter worth approximately $40,000. 88.67% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Olin news, VP Brett A. Flaugher sold 15,000 shares of the business’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $52.46, for a total value of $786,900.00. Following the transaction, 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 SEC, which can be accessed through the SEC website. In other Olin news, VP Brett A. Flaugher sold 15,000 shares of the business’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $52.46, for a total value of $786,900.00. Following the transaction, 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 SEC, which can be accessed through the SEC website. Also, CFO Todd A. Slater sold 63,250 shares of the business’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $54.15, for a total value of $3,424,987.50. Following the completion of the transaction, the chief financial officer now directly owns 137,517 shares in the company, valued at approximately $7,446,545.55. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 753,274 shares of company stock worth $40,434,124. 1.80% of the stock is owned by corporate insiders.

Olin Trading Down 0.8 %

Shares of Olin stock opened at $54.00 on Tuesday. The stock has a fifty day simple moving average of $55.28 and a 200 day simple moving average of $51.34. Olin Co. has a 12-month low of $41.71 and a 12-month high of $60.60. The company has a market capitalization of $6.46 billion, a P/E ratio of 15.25, a price-to-earnings-growth ratio of 0.30 and a beta of 1.44. 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 (NYSE:OLN) last announced its quarterly earnings results on Thursday, January 25th. The specialty chemicals company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.10. Olin had a return on equity of 18.44% and a net margin of 6.74%. The business had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.50 billion. On average, sell-side analysts anticipate that Olin Co. will post 3.75 earnings per share for the current fiscal year.

Olin Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, March 7th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Wednesday, March 6th. This represents a $0.80 annualized dividend and a yield of 1.48%. Olin’s dividend payout ratio (DPR) is currently 22.60%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. KeyCorp lifted their price objective on Olin from $66.00 to $78.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 9th. The Goldman Sachs Group lifted their target price on Olin from $55.00 to $61.00 and gave the stock a “neutral” rating in a report on Tuesday, January 30th. Wells Fargo & Company lifted their target price on Olin from $56.00 to $60.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 3rd. Royal Bank of Canada lifted their target price on Olin from $58.00 to $64.00 and gave the stock an “outperform” rating in a report on Monday, January 29th. Finally, Stifel Nicolaus lifted their target price on Olin from $65.00 to $66.00 and gave the stock a “buy” rating in a report on Monday, January 29th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $59.00.

Olin Company 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.