72,784 Shares in Olin Corporation $OLN Bought by AMG National Trust Bank

AMG National Trust Bank bought a new stake in shares of Olin Corporation (NYSE:OLN) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 72,784 shares of the specialty chemicals company’s stock, valued at approximately $1,819,000. AMG National Trust Bank owned approximately 0.06% of Olin at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. ARGA Investment Management LP increased its holdings in shares of Olin by 0.9% during the 3rd quarter. ARGA Investment Management LP now owns 60,359 shares of the specialty chemicals company’s stock valued at $1,508,000 after acquiring an additional 546 shares during the last quarter. Wilmington Savings Fund Society FSB boosted its position in Olin by 9.9% during the third quarter. Wilmington Savings Fund Society FSB now owns 6,412 shares of the specialty chemicals company’s stock worth $160,000 after purchasing an additional 579 shares during the period. FORA Capital LLC grew its holdings in Olin by 2.6% during the second quarter. FORA Capital LLC now owns 24,453 shares of the specialty chemicals company’s stock valued at $491,000 after purchasing an additional 625 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al raised its position in shares of Olin by 1.1% in the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 62,678 shares of the specialty chemicals company’s stock valued at $1,566,000 after purchasing an additional 700 shares during the period. Finally, Treasurer of the State of North Carolina raised its position in shares of Olin by 1.5% in the second quarter. Treasurer of the State of North Carolina now owns 53,636 shares of the specialty chemicals company’s stock valued at $1,078,000 after purchasing an additional 793 shares during the period. Institutional investors and hedge funds own 88.67% of the company’s stock.

Insider Buying and Selling

In other Olin news, CFO Todd A. Slater sold 92,250 shares of the firm’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $22.48, for a total transaction of $2,073,780.00. Following the completion of the transaction, the chief financial officer owned 44,291 shares in the company, valued at $995,661.68. This trade represents a 67.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP R Nichole Sumner sold 4,750 shares of the company’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $22.49, for a total value of $106,827.50. Following the completion of the sale, the vice president owned 24,771 shares in the company, valued at $557,099.79. This trade represents a 16.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 101,500 shares of company stock valued at $2,274,478 over the last quarter. Corporate insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on OLN shares. BMO Capital Markets decreased their price objective on shares of Olin from $25.00 to $24.00 and set a “market perform” rating for the company in a report on Tuesday, February 3rd. Wall Street Zen lowered shares of Olin from a “hold” rating to a “sell” rating in a research report on Saturday, January 10th. KeyCorp lowered their price target on Olin from $29.00 to $26.00 and set an “overweight” rating on the stock in a research report on Monday, February 2nd. Mizuho lifted their price objective on Olin from $22.00 to $24.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 17th. Finally, Zacks Research downgraded Olin from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 29th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, Olin currently has a consensus rating of “Hold” and an average price target of $23.20.

Olin Stock Performance

NYSE:OLN opened at $24.33 on Friday. The firm’s 50-day moving average is $22.84 and its 200-day moving average is $22.50. The company has a market cap of $2.78 billion, a price-to-earnings ratio of -64.01 and a beta of 1.64. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.81 and a current ratio of 1.35. Olin Corporation has a 52-week low of $17.66 and a 52-week high of $27.85.

Olin (NYSE:OLN) last released its earnings results on Thursday, January 29th. The specialty chemicals company reported ($0.58) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.58). The business had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.61 billion. Olin had a negative return on equity of 0.47% and a negative net margin of 0.63%.The firm’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period last year, the business earned $0.09 earnings per share. Equities research analysts anticipate that Olin Corporation 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, March 13th. Stockholders of record on Tuesday, March 3rd will be paid a $0.20 dividend. The ex-dividend date is Tuesday, March 3rd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.3%. Olin’s dividend payout ratio is currently -210.53%.

About Olin

Olin Corporation is a diversified manufacturer specializing in chemical products and ammunition. The company’s core business activities encompass the production and distribution of chlor-alkali products, epoxy resins and derivatives, and small-caliber ammunition under the Winchester brand. Olin’s chemical operations supply chlorine, caustic soda and related co-products to a wide range of end markets, including water treatment, pulp and paper, pharmaceuticals and general industrial applications.

In its Chlor Alkali Products & Vinyls segment, Olin operates multiple manufacturing facilities that produce chlorine and sodium hydroxide, along with vinyl chloride monomer and polyvinyl chloride (PVC) compounds.