Deutsche Bank AG Sells 1,145 Shares of Olin Co. (NYSE:OLN)

Deutsche Bank AG trimmed its holdings in Olin Co. (NYSE:OLN) by 14.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,686 shares of the specialty chemicals company’s stock after selling 1,145 shares during the quarter. Deutsche Bank AG’s holdings in Olin were worth $226,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Covestor Ltd lifted its position in Olin by 45.8% in the fourth quarter. Covestor Ltd now owns 1,334 shares of the specialty chemicals company’s stock worth $45,000 after purchasing an additional 419 shares during the period. Spire Wealth Management lifted its position in Olin by 246.8% in the fourth quarter. Spire Wealth Management now owns 1,616 shares of the specialty chemicals company’s stock worth $55,000 after purchasing an additional 1,150 shares during the period. CoreFirst Bank & Trust acquired a new position in Olin during the fourth quarter worth $66,000. Jones Financial Companies Lllp raised its stake in Olin by 59.9% during the fourth quarter. Jones Financial Companies Lllp now owns 2,431 shares of the specialty chemicals company’s stock worth $82,000 after acquiring an additional 911 shares in the last quarter. Finally, Blue Trust Inc. raised its stake in Olin by 34.3% during the fourth quarter. Blue Trust Inc. now owns 2,887 shares of the specialty chemicals company’s stock worth $98,000 after acquiring an additional 738 shares in the last quarter. 88.67% of the stock is owned by institutional investors.

Olin Stock Down 3.5%

Shares of NYSE:OLN opened at $19.42 on Monday. Olin Co. has a one year low of $17.66 and a one year high of $54.05. The company has a 50 day moving average of $21.23 and a 200-day moving average of $28.33. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.27 and a quick ratio of 0.77. The stock has a market cap of $2.24 billion, a price-to-earnings ratio of 21.58 and a beta of 1.56.

Olin (NYSE:OLN) last posted its earnings results on Thursday, May 1st. The specialty chemicals company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.14. Olin had a return on equity of 5.10% and a net margin of 1.66%. The company had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same period in the previous year, the company earned $0.40 EPS. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. On average, sell-side analysts forecast that Olin Co. will post 1.38 earnings per share for the current year.

Olin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Thursday, May 15th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 4.12%. The ex-dividend date is Thursday, May 15th. Olin’s dividend payout ratio (DPR) is presently 156.86%.

Analysts Set New Price Targets

OLN has been the subject of several recent analyst reports. JPMorgan Chase & Co. dropped their price objective on Olin from $28.00 to $20.00 and set a “neutral” rating for the company in a research note on Tuesday, May 6th. Barclays lowered their target price on Olin from $28.00 to $24.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 28th. Citigroup lowered their target price on Olin from $34.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday, March 27th. Royal Bank of Canada lowered their target price on Olin from $28.00 to $25.00 and set a “sector perform” rating for the company in a research note on Monday, May 5th. Finally, Mizuho set a $23.00 target price on Olin in a research note on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $27.80.

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.