Sequoia Financial Advisors LLC Buys New Holdings in Olin Co. (NYSE:OLN)

Sequoia Financial Advisors LLC purchased a new position in shares of Olin Co. (NYSE:OLN) during the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 12,526 shares of the specialty chemicals company’s stock, valued at approximately $676,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of OLN. Baystate Wealth Management LLC boosted its position in shares of Olin by 154.6% during the 3rd quarter. Baystate Wealth Management LLC now owns 494 shares of the specialty chemicals company’s stock valued at $25,000 after acquiring an additional 300 shares in the last quarter. Salem Investment Counselors Inc. acquired a new stake in shares of Olin during the 1st quarter worth about $26,000. Covestor Ltd lifted its holdings in Olin by 76.7% during 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 last quarter. Quarry LP boosted its position in Olin by 508.6% in the first quarter. Quarry LP now owns 706 shares of the specialty chemicals company’s stock valued at $39,000 after buying an additional 590 shares in the last quarter. Finally, Motco acquired a new stake in shares of Olin during the third quarter worth approximately $40,000. Institutional investors own 88.67% of the company’s stock.

Olin Trading Down 0.8 %

Shares of NYSE OLN opened at $54.00 on Tuesday. The company’s 50 day simple moving average is $55.28 and its 200 day simple moving average is $51.34. 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 fifty-two week low of $41.71 and a fifty-two week high of $60.60. The firm has a market capitalization of $6.46 billion, a P/E ratio of 15.25, a P/E/G ratio of 0.30 and a beta of 1.44.

Olin (NYSE:OLN) last posted its quarterly earnings results on Thursday, January 25th. The specialty chemicals company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.50 billion. On average, analysts predict that Olin Co. will post 3.75 EPS for the current year.

Olin Dividend Announcement

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

Insider Transactions at Olin

In related news, CFO Todd A. Slater sold 63,250 shares of Olin stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $54.15, for a total transaction of $3,424,987.50. Following the transaction, the chief financial officer now owns 137,517 shares of the company’s stock, valued at approximately $7,446,545.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP Brett A. Flaugher sold 15,000 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $52.46, for a total transaction of $786,900.00. Following the sale, the vice president now owns 8,782 shares of the company’s stock, valued at $460,703.72. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Todd A. Slater sold 63,250 shares of Olin stock in a transaction dated Tuesday, January 30th. The shares were 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 owns 137,517 shares in the company, valued at approximately $7,446,545.55. The disclosure for this sale can be found here. In the last ninety days, insiders sold 753,274 shares of company stock worth $40,434,124. 1.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on OLN. KeyCorp boosted their target price on Olin from $66.00 to $78.00 and gave the stock an “overweight” rating in a report on Tuesday, April 9th. Wells Fargo & Company increased 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. The Goldman Sachs Group lifted their price target on Olin from $55.00 to $61.00 and gave the company a “neutral” rating in a report on Tuesday, January 30th. UBS Group increased their price objective on shares of Olin from $56.00 to $58.00 and gave the stock a “neutral” rating in a report on Friday, January 26th. Finally, Royal Bank of Canada boosted their target price on shares of Olin from $58.00 to $64.00 and gave the stock an “outperform” rating in a research note on Monday, January 29th. Two 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. According to MarketBeat, Olin presently has an average rating of “Hold” and an average target price of $59.00.

About Olin

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.