Arnhold LLC Decreases Position in Olin Co. (NYSE:OLN)

Arnhold LLC cut its position in Olin Co. (NYSE:OLN) by 0.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 224,980 shares of the specialty chemicals company’s stock after selling 358 shares during the quarter. Olin accounts for 1.4% of Arnhold LLC’s portfolio, making the stock its 27th largest position. Arnhold LLC owned 0.18% of Olin worth $12,138,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Baystate Wealth Management LLC increased 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 buying an additional 300 shares during the last quarter. Covestor Ltd grew its position in shares of Olin by 76.7% in the 3rd quarter. Covestor Ltd now owns 659 shares of the specialty chemicals company’s stock worth $33,000 after acquiring an additional 286 shares in the last quarter. Sandy Spring Bank boosted its holdings in shares of Olin by 145.6% in the 4th quarter. Sandy Spring Bank now owns 614 shares of the specialty chemicals company’s stock valued at $33,000 after buying an additional 364 shares during the period. Motco acquired a new stake in Olin during the third quarter worth about $40,000. Finally, ORG Partners LLC bought a new position in Olin in the third quarter worth about $44,000. 88.67% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Citigroup boosted 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. The Goldman Sachs Group raised their price target on Olin from $55.00 to $61.00 and gave the company a “neutral” rating in a research report on Tuesday, January 30th. KeyCorp dropped their price objective on Olin from $78.00 to $73.00 and set an “overweight” rating for the company in a research note on Monday. Piper Sandler lifted their price objective on Olin from $72.00 to $75.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Royal Bank of Canada reduced their price target on shares of Olin from $69.00 to $63.00 and set an “outperform” rating on the stock in a research report on Monday. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $60.00.

Insider Buying and Selling at Olin

In other news, VP Valerie A. Peters sold 71,800 shares of the stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $52.52, for a total value of $3,770,936.00. Following the transaction, the vice president now owns 19,469 shares of the company’s stock, valued at approximately $1,022,511.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, VP Brett A. Flaugher sold 15,000 shares of the stock in a transaction dated Monday, February 26th. The shares were 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 directly owns 8,782 shares in the company, valued at $460,703.72. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Valerie A. Peters sold 71,800 shares of the business’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $52.52, for a total value of $3,770,936.00. Following the transaction, 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 sold 150,696 shares of company stock valued at $7,906,997 in the last quarter. 1.80% of the stock is currently owned by corporate insiders.

Olin Stock Down 2.4 %

Shares of NYSE OLN traded down $1.26 during trading on Tuesday, hitting $52.28. 1,232,607 shares of the company traded hands, compared to its average volume of 1,035,512. The firm has a market capitalization of $6.25 billion, a price-to-earnings ratio of 18.81, a P/E/G ratio of 0.29 and a beta of 1.44. The business’s fifty day moving average is $55.67 and its 200 day moving average is $51.73. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.80 and a current ratio of 1.38. Olin Co. has a fifty-two week low of $41.71 and a fifty-two week high of $60.60.

Olin (NYSE:OLN) last announced its earnings results on Friday, April 26th. The specialty chemicals company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.38 by $0.02. The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.65 billion. Olin had a net margin of 5.32% and a return on equity of 14.47%. The firm’s revenue for the quarter was down 11.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.16 earnings per share. Equities research analysts predict that Olin Co. will post 3.73 earnings per share for the current fiscal year.

Olin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Thursday, May 9th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Wednesday, May 8th. This represents a $0.80 annualized dividend and a yield of 1.53%. Olin’s dividend payout ratio is currently 28.78%.

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.