Raymond James Financial Services Advisors Inc. Reduces Stake in Olin Co. (NYSE:OLN)

Raymond James Financial Services Advisors Inc. lowered its holdings in Olin Co. (NYSE:OLN) by 65.1% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 17,704 shares of the specialty chemicals company’s stock after selling 32,953 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Olin were worth $955,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Arbor Capital Management Inc. ADV lifted its stake in shares of Olin by 0.5% in the 1st quarter. Arbor Capital Management Inc. ADV now owns 38,729 shares of the specialty chemicals company’s stock valued at $2,224,000 after purchasing an additional 199 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Olin by 0.5% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 42,285 shares of the specialty chemicals company’s stock valued at $1,957,000 after purchasing an additional 216 shares during the period. Captrust Financial Advisors lifted its stake in shares of Olin by 3.3% in the 3rd quarter. Captrust Financial Advisors now owns 6,834 shares of the specialty chemicals company’s stock valued at $293,000 after purchasing an additional 217 shares during the period. U.S. Capital Wealth Advisors LLC lifted its stake in shares of Olin by 5.8% in the 1st quarter. U.S. Capital Wealth Advisors LLC now owns 4,714 shares of the specialty chemicals company’s stock valued at $246,000 after purchasing an additional 259 shares during the period. Finally, Covestor Ltd lifted its stake in shares of Olin by 76.7% in the 3rd 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. Hedge funds and other institutional investors own 88.67% of the company’s stock.

Insider Activity at Olin

In other news, CFO Todd A. Slater sold 63,250 shares of the business’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $54.15, for a total value of $3,424,987.50. Following the transaction, the chief financial officer now directly owns 137,517 shares in the company, valued at $7,446,545.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Olin news, CEO Scott Mcdougald Sutton sold 539,328 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $53.96, for a total transaction of $29,102,138.88. Following the sale, the chief executive officer now directly owns 47,620 shares of the company’s stock, valued at $2,569,575.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Todd A. Slater sold 63,250 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $54.15, for a total value of $3,424,987.50. Following the sale, the chief financial officer now directly owns 137,517 shares in the company, valued at $7,446,545.55. The disclosure for this sale can be found here. Over the last three months, insiders have sold 753,274 shares of company stock worth $40,434,124. Corporate insiders own 1.80% of the company’s stock.

Olin Stock Performance

Shares of OLN opened at $54.00 on Tuesday. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.29 and a quick ratio of 0.73. Olin Co. has a one year low of $41.71 and a one year high of $60.60. The firm has a market capitalization of $6.46 billion, a P/E ratio of 15.25, a PEG ratio of 0.30 and a beta of 1.44. The business has a fifty day moving average of $55.28 and a 200 day moving average of $51.34.

Olin (NYSE:OLN) last issued its quarterly earnings data on Thursday, January 25th. The specialty chemicals company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.20 by $0.10. Olin had a return on equity of 18.44% and a net margin of 6.74%. The company had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.50 billion. As a group, sell-side analysts anticipate that Olin Co. will post 3.75 EPS for the current year.

Olin Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, March 7th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Wednesday, March 6th. This represents a $0.80 annualized dividend and a yield of 1.48%. Olin’s dividend payout ratio (DPR) is presently 22.60%.

Analyst Ratings Changes

OLN has been the subject of a number of research analyst reports. KeyCorp raised their target price on Olin from $66.00 to $78.00 and gave the company an “overweight” rating in a research note on Tuesday, April 9th. Stifel Nicolaus raised their price objective on Olin from $65.00 to $66.00 and gave the company a “buy” rating in a research report on Monday, January 29th. UBS Group raised their price objective on Olin from $56.00 to $58.00 and gave the company a “neutral” rating in a research report on Friday, January 26th. Wells Fargo & Company raised their price objective on Olin from $56.00 to $60.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 3rd. Finally, The Goldman Sachs Group raised their price objective on Olin from $55.00 to $61.00 and gave the company a “neutral” rating in a research report on Tuesday, January 30th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $59.00.

Olin Company 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.