Raymond James Financial Inc. Takes $6.78 Million Position in Olin Co. (NYSE:OLN)

Raymond James Financial Inc. acquired a new position in Olin Co. (NYSE:OLN) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 200,573 shares of the specialty chemicals company’s stock, valued at approximately $6,779,000.

Other institutional investors also recently bought and sold shares of the company. Blue Trust Inc. lifted its holdings in shares of Olin by 34.3% in the 4th quarter. Blue Trust Inc. now owns 2,887 shares of the specialty chemicals company’s stock worth $98,000 after buying an additional 738 shares during the period. Harbor Capital Advisors Inc. lifted its stake in Olin by 55.5% in the fourth quarter. Harbor Capital Advisors Inc. now owns 143,062 shares of the specialty chemicals company’s stock worth $4,835,000 after acquiring an additional 51,051 shares during the period. KBC Group NV grew its holdings in Olin by 82.9% during the 4th quarter. KBC Group NV now owns 5,461 shares of the specialty chemicals company’s stock worth $185,000 after acquiring an additional 2,476 shares in the last quarter. Mariner Investment Group LLC purchased a new position in Olin during the 4th quarter valued at about $355,000. Finally, LPL Financial LLC raised its holdings in shares of Olin by 218.9% in the 4th quarter. LPL Financial LLC now owns 138,477 shares of the specialty chemicals company’s stock valued at $4,681,000 after purchasing an additional 95,054 shares in the last quarter. 88.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

OLN has been the topic of a number of recent research reports. Mizuho set a $23.00 price objective on shares of Olin in a research note on Tuesday, April 15th. Royal Bank of Canada downgraded Olin from an “outperform” rating to a “sector perform” rating and cut their price target for the company from $45.00 to $30.00 in a report on Tuesday, February 4th. BMO Capital Markets reduced their price target on Olin from $44.00 to $34.00 and set a “market perform” rating for the company in a research report on Wednesday, February 5th. KeyCorp dropped their price objective on Olin from $40.00 to $34.00 and set an “overweight” rating on the stock in a research report on Monday, April 14th. Finally, Bank of America upgraded shares of Olin from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $48.00 to $40.00 in a report on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $33.25.

Insider Buying and Selling at Olin

In related news, CEO Kenneth Todd Lane acquired 7,250 shares of Olin stock in a transaction on Tuesday, February 4th. The stock was acquired at an average price of $28.06 per share, for a total transaction of $203,435.00. Following the purchase, the chief executive officer now owns 7,250 shares of the company’s stock, valued at approximately $203,435. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.60% of the company’s stock.

Olin Trading Down 2.3 %

NYSE OLN opened at $21.11 on Thursday. The stock has a market cap of $2.43 billion, a P/E ratio of 23.46 and a beta of 1.50. The company has a current ratio of 1.27, a quick ratio of 0.77 and a debt-to-equity ratio of 1.32. Olin Co. has a 12-month low of $17.66 and a 12-month high of $57.10. The company has a fifty day simple moving average of $23.61 and a two-hundred day simple moving average of $32.91.

Olin (NYSE:OLN) last issued its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.10. Olin had a return on equity of 5.10% and a net margin of 1.66%. On average, analysts forecast that Olin Co. will post 1.38 earnings per share for the current year.

Olin Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, March 6th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date was Thursday, March 6th. Olin’s dividend payout ratio is presently 88.89%.

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.