Cambridge Investment Research Advisors Inc. Sells 5,558 Shares of Olin Co. (NYSE:OLN)

Cambridge Investment Research Advisors Inc. lessened its position in shares of Olin Co. (NYSE:OLN) by 10.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 48,608 shares of the specialty chemicals company’s stock after selling 5,558 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Olin were worth $2,698,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Olin by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 15,867,281 shares of the specialty chemicals company’s stock worth $829,542,000 after acquiring an additional 493,052 shares during the period. FMR LLC increased its holdings in shares of Olin by 33.7% in the 1st quarter. FMR LLC now owns 9,238,429 shares of the specialty chemicals company’s stock worth $512,733,000 after buying an additional 2,330,040 shares during the last quarter. State Street Corp increased its holdings in shares of Olin by 0.6% in the 1st quarter. State Street Corp now owns 5,581,714 shares of the specialty chemicals company’s stock worth $291,812,000 after buying an additional 31,587 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of Olin by 136.7% in the 4th quarter. Bank of America Corp DE now owns 2,169,999 shares of the specialty chemicals company’s stock worth $114,880,000 after buying an additional 1,253,126 shares during the last quarter. Finally, Pacer Advisors Inc. increased its holdings in shares of Olin by 9.8% in the 1st quarter. Pacer Advisors Inc. now owns 1,767,191 shares of the specialty chemicals company’s stock worth $98,079,000 after buying an additional 157,760 shares during the last quarter. Institutional investors own 85.69% of the company’s stock.

Insiders Place Their Bets

In other news, VP Brett A. Flaugher sold 11,250 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $58.95, for a total value of $663,187.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Olin news, VP Damian Gumpel sold 8,000 shares of the company’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $58.38, for a total value of $467,040.00. Following the sale, the vice president now owns 27,651 shares in the company, valued at $1,614,265.38. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Brett A. Flaugher sold 11,250 shares of Olin stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $58.95, for a total transaction of $663,187.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,174 shares of company stock worth $1,414,639. Company insiders own 1.60% of the company’s stock.

Olin Price Performance

OLN opened at $51.98 on Friday. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.80 and a current ratio of 1.58. The stock has a market capitalization of $6.54 billion, a PE ratio of 8.81, a price-to-earnings-growth ratio of 1.97 and a beta of 1.45. The stock’s 50 day moving average price is $55.45 and its 200-day moving average price is $54.73. Olin Co. has a 52-week low of $41.33 and a 52-week high of $64.70.

Olin (NYSE:OLN) last issued its quarterly earnings data on Friday, July 28th. The specialty chemicals company reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.09. The business had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.86 billion. Olin had a net margin of 10.39% and a return on equity of 32.28%. The company’s quarterly revenue was down 34.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.76 EPS. On average, equities research analysts predict that Olin Co. will post 4.16 EPS for the current year.

Olin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Thursday, August 10th will be given a dividend of $0.20 per share. The ex-dividend date is Wednesday, August 9th. This represents a $0.80 annualized dividend and a yield of 1.54%. Olin’s payout ratio is 13.56%.

Analyst Ratings Changes

OLN has been the topic of a number of research analyst reports. Wells Fargo & Company increased their price target on shares of Olin from $60.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, July 31st. UBS Group lowered shares of Olin from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $68.00 to $53.00 in a report on Tuesday, June 27th. StockNews.com began coverage on shares of Olin in a research note on Thursday, August 17th. They issued a “hold” rating for the company. Stifel Nicolaus cut their price objective on shares of Olin from $85.00 to $82.00 and set a “buy” rating for the company in a research note on Monday, July 31st. Finally, Credit Suisse Group upped their price objective on shares of Olin from $46.00 to $47.00 and gave the company an “underperform” rating in a research note on Friday, July 28th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Olin currently has an average rating of “Hold” and an average target price of $64.50.

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.