Olin Corporation (NYSE:OLN) Shares Sold by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC lessened its stake in Olin Corporation (NYSE:OLN) by 7.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,639 shares of the specialty chemicals company’s stock after selling 1,301 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Olin were worth $379,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fifth Third Bancorp boosted its holdings in Olin by 160.5% in the 1st quarter. Fifth Third Bancorp now owns 1,206 shares of the specialty chemicals company’s stock worth $29,000 after acquiring an additional 743 shares during the period. Covestor Ltd boosted its holdings in Olin by 45.8% in the 4th quarter. Covestor Ltd now owns 1,334 shares of the specialty chemicals company’s stock worth $45,000 after acquiring an additional 419 shares during the period. Farther Finance Advisors LLC boosted its holdings in Olin by 183.8% in the 1st quarter. Farther Finance Advisors LLC now owns 2,645 shares of the specialty chemicals company’s stock worth $63,000 after acquiring an additional 1,713 shares during the period. CoreFirst Bank & Trust purchased a new position in Olin in the 4th quarter worth approximately $66,000. Finally, Jones Financial Companies Lllp boosted its holdings in Olin by 59.9% in the 4th 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 during the period. Hedge funds and other institutional investors own 88.67% of the company’s stock.

Olin Stock Performance

OLN stock opened at $21.92 on Monday. The company has a current ratio of 1.56, a quick ratio of 0.96 and a debt-to-equity ratio of 1.48. The firm has a market cap of $2.52 billion, a P/E ratio of 42.98 and a beta of 1.52. Olin Corporation has a 12-month low of $17.66 and a 12-month high of $50.75. The stock’s 50 day simple moving average is $20.67 and its 200 day simple moving average is $24.93.

Olin (NYSE:OLN) last posted its quarterly earnings results on Thursday, May 1st. The specialty chemicals company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.14. The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.58 billion. Olin had a return on equity of 3.13% and a net margin of 0.94%. The business’s revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.40 EPS. As a group, equities research analysts predict that Olin Corporation will post 1.38 EPS for the current year.

Olin Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Thursday, May 15th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.65%. The ex-dividend date was Thursday, May 15th. Olin’s dividend payout ratio is presently 156.86%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on OLN shares. Citigroup decreased their price target on Olin from $34.00 to $30.00 and set a “buy” rating for the company in a report on Thursday, March 27th. The Goldman Sachs Group decreased their price target on Olin from $33.00 to $25.00 and set a “neutral” rating for the company in a report on Tuesday, May 6th. JPMorgan Chase & Co. decreased their price target on Olin from $28.00 to $20.00 and set a “neutral” rating for the company in a report on Tuesday, May 6th. UBS Group upped their target price on Olin from $21.00 to $22.00 and gave the company a “neutral” rating in a research report on Friday, May 2nd. Finally, Barclays cut their target price on Olin from $28.00 to $24.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 28th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Olin currently has an average rating of “Hold” and an average price target of $27.67.

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.