Olin Co. (NYSE:OLN) Stake Lowered by Xponance Inc.

Xponance Inc. reduced its stake in shares of Olin Co. (NYSE:OLN) by 2.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,860 shares of the specialty chemicals company’s stock after selling 314 shares during the period. Xponance Inc.’s holdings in Olin were worth $802,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of OLN. Pzena Investment Management LLC grew its holdings in shares of Olin by 15.6% during the 3rd quarter. Pzena Investment Management LLC now owns 2,940,658 shares of the specialty chemicals company’s stock valued at $146,974,000 after acquiring an additional 397,050 shares in the last quarter. Luminus Management LLC lifted its stake in shares of Olin by 119.6% in the 3rd quarter. Luminus Management LLC now owns 524,753 shares of the specialty chemicals company’s stock valued at $26,227,000 after purchasing an additional 285,789 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Olin by 21.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,179,543 shares of the specialty chemicals company’s stock valued at $58,954,000 after purchasing an additional 206,398 shares during the last quarter. Hsbc Holdings PLC lifted its stake in shares of Olin by 139.4% in the 3rd quarter. Hsbc Holdings PLC now owns 259,923 shares of the specialty chemicals company’s stock valued at $12,947,000 after purchasing an additional 151,342 shares during the last quarter. Finally, Rovida Advisors Inc. acquired a new stake in shares of Olin in the 3rd quarter valued at $4,998,000. 88.67% of the stock is currently owned by hedge funds and other institutional investors.

Olin Stock Down 0.5 %

Shares of OLN opened at $52.81 on Friday. The company has a 50-day simple moving average of $55.61 and a 200-day simple moving average of $51.59. The firm has a market capitalization of $6.32 billion, a P/E ratio of 14.92, a P/E/G ratio of 0.29 and a beta of 1.44. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.73 and a current ratio of 1.29. Olin Co. has a 52 week low of $41.71 and a 52 week high of $60.60.

Olin (NYSE:OLN) last posted its earnings results on Thursday, January 25th. The specialty chemicals company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.10. The business had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Olin had a net margin of 6.74% and a return on equity of 18.44%. On average, equities research analysts expect that Olin Co. will post 3.73 earnings per share for the current year.

Olin Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, March 7th were paid a $0.20 dividend. The ex-dividend date of this dividend was Wednesday, March 6th. This represents a $0.80 dividend on an annualized basis and a yield of 1.51%. Olin’s payout ratio is currently 22.60%.

Wall Street Analysts Forecast Growth

OLN has been the subject of several analyst reports. Wells Fargo & Company lifted their price objective on shares of Olin from $56.00 to $60.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 3rd. Royal Bank of Canada lifted their price objective on shares of Olin from $64.00 to $69.00 and gave the company an “outperform” rating in a research note on Friday, April 19th. Citigroup lifted their price objective on shares of Olin from $63.00 to $67.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. KeyCorp boosted their target price on shares of Olin from $66.00 to $78.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 9th. Finally, Barclays boosted their target price on shares of Olin from $57.00 to $59.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 4th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $59.33.

Insider Activity at Olin

In related news, CEO Scott Mcdougald Sutton sold 48,896 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Olin news, CEO Scott Mcdougald Sutton sold 48,896 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $52.39, for a total transaction 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 $4,732,231.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Valerie A. Peters sold 71,800 shares of the company’s stock in a transaction dated 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 sale, the vice president now directly owns 19,469 shares in the company, valued at $1,022,511.88. The disclosure for this sale can be found here. Insiders have sold a total of 753,274 shares of company stock valued at $40,434,124 over the last quarter. 1.60% of the stock is owned by company insiders.

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.