Zurcher Kantonalbank Zurich Cantonalbank Boosts Stock Position in Olin Co. (NYSE:OLN)

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Olin Co. (NYSE:OLN) by 14.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 22,067 shares of the specialty chemicals company’s stock after acquiring an additional 2,776 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Olin were worth $1,191,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Ritholtz Wealth Management boosted its holdings in Olin by 1.5% in the fourth quarter. Ritholtz Wealth Management now owns 16,389 shares of the specialty chemicals company’s stock worth $884,000 after acquiring an additional 238 shares in the last quarter. Covestor Ltd boosted its holdings in Olin by 76.7% in the third 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. Treasurer of the State of North Carolina boosted its holdings in Olin by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 58,430 shares of the specialty chemicals company’s stock worth $2,920,000 after acquiring an additional 297 shares in the last quarter. Baystate Wealth Management LLC boosted its holdings in 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 acquiring an additional 300 shares in the last quarter. Finally, Sandy Spring Bank boosted its holdings in Olin by 145.6% in the fourth quarter. Sandy Spring Bank now owns 614 shares of the specialty chemicals company’s stock worth $33,000 after acquiring an additional 364 shares in the last quarter. Institutional investors and hedge funds own 88.67% of the company’s stock.

Olin Stock Up 1.2 %

Olin stock opened at $53.48 on Friday. The stock has a market capitalization of $6.40 billion, a PE ratio of 15.11, a price-to-earnings-growth ratio of 0.29 and a beta of 1.44. Olin Co. has a 12 month low of $41.71 and a 12 month high of $60.60. The business has a 50 day simple moving average of $55.63 and a 200-day simple moving average of $51.63. 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 (NYSE:OLN) last posted its quarterly earnings data on Thursday, April 25th. The specialty chemicals company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. The business had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.65 billion. Olin had a return on equity of 18.44% and a net margin of 6.74%. The business’s revenue was down 11.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.16 earnings per share. On average, analysts anticipate that Olin Co. will post 3.73 EPS for the current fiscal year.

Olin Announces Dividend

The company also recently declared 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. This represents a $0.80 annualized dividend and a dividend yield of 1.50%. The ex-dividend date of this dividend was Wednesday, March 6th. Olin’s payout ratio is 22.60%.

Analyst Ratings Changes

OLN has been the subject of several recent analyst reports. UBS Group raised their price target on Olin from $56.00 to $58.00 and gave the stock a “neutral” rating in a report on Friday, January 26th. Wells Fargo & Company lifted 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. Stifel Nicolaus lifted 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. The Goldman Sachs Group lifted their target price on Olin from $55.00 to $61.00 and gave the stock a “neutral” rating in a report on Tuesday, January 30th. Finally, Citigroup lifted 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. Two equities research 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, the stock has an average rating of “Hold” and an average price target of $59.33.

Insider Buying and Selling

In related news, VP Brett A. Flaugher sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Brett A. Flaugher sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 owns 137,517 shares of the company’s stock, valued at $7,446,545.55. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 753,274 shares of company stock worth $40,434,124. 1.60% of the stock is owned by corporate insiders.

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.