Olin Co. (NYSE:OLN) Shares Sold by MCF Advisors LLC

MCF Advisors LLC cut its position in Olin Co. (NYSE:OLN) by 54.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,421 shares of the specialty chemicals company’s stock after selling 5,346 shares during the period. MCF Advisors LLC’s holdings in Olin were worth $239,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of OLN. Baystate Wealth Management LLC increased its holdings 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 valued at $25,000 after purchasing an additional 300 shares during the period. Covestor Ltd increased its holdings in shares of Olin by 76.7% in the third quarter. Covestor Ltd now owns 659 shares of the specialty chemicals company’s stock valued at $33,000 after purchasing an additional 286 shares during the period. Sandy Spring Bank increased its holdings in shares of Olin by 145.6% in the fourth quarter. Sandy Spring Bank now owns 614 shares of the specialty chemicals company’s stock valued at $33,000 after purchasing an additional 364 shares during the period. Motco acquired a new position in shares of Olin in the third quarter valued at about $40,000. Finally, ORG Partners LLC acquired a new stake in Olin during the third quarter worth about $44,000. 88.67% of the stock is owned by institutional investors and hedge funds.

Olin Stock Performance

OLN traded up $0.33 during trading on Monday, hitting $53.92. 152,611 shares of the stock were exchanged, compared to its average volume of 1,015,680. Olin Co. has a 1-year low of $41.71 and a 1-year high of $60.60. The firm has a market capitalization of $6.45 billion, a P/E ratio of 15.14, a PEG ratio of 0.29 and a beta of 1.44. The company has a quick ratio of 0.73, a current ratio of 1.29 and a debt-to-equity ratio of 1.14. The stock has a fifty day moving average price of $55.48 and a two-hundred day moving average price of $51.47.

Olin (NYSE:OLN) last issued its earnings results on Thursday, January 25th. The specialty chemicals company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.10. The business had revenue of $1.61 billion during 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, sell-side analysts predict that Olin Co. will post 3.75 earnings per share for the current year.

Olin Announces Dividend

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

Insider Activity at Olin

In related news, VP Valerie A. Peters sold 71,800 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $52.52, for a total value of $3,770,936.00. Following the completion of the transaction, the vice president now directly owns 19,469 shares of the company’s stock, valued at approximately $1,022,511.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Olin news, VP Valerie A. Peters sold 71,800 shares of the firm’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 transaction, the vice president now owns 19,469 shares of the company’s stock, valued at $1,022,511.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Scott Mcdougald Sutton sold 539,328 shares of Olin stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $53.96, for a total value of $29,102,138.88. Following the completion of the transaction, the chief executive officer now owns 47,620 shares in the company, valued at approximately $2,569,575.20. The disclosure for this sale can be found here. Insiders sold 753,274 shares of company stock valued at $40,434,124 in the last ninety days. Corporate insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. Stifel Nicolaus raised 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. Citigroup raised their target price on Olin from $63.00 to $67.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Wells Fargo & Company raised 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 raised their target price on Olin from $64.00 to $69.00 and gave the stock an “outperform” rating in a report on Friday. Finally, KeyCorp increased their price target on Olin from $66.00 to $78.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 9th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Olin presently has an average rating of “Hold” and a consensus price target of $59.33.

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.