Cerity Partners LLC Trims Holdings in Olin Co. (NYSE:OLN)

Cerity Partners LLC cut its stake in Olin Co. (NYSE:OLN - Free Report) by 42.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 66,588 shares of the specialty chemicals company's stock after selling 49,191 shares during the quarter. Cerity Partners LLC owned about 0.06% of Olin worth $2,251,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of OLN. Spire Wealth Management raised its stake in Olin by 246.8% during 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 purchased a new stake in shares of Olin during the 4th quarter valued at approximately $66,000. Jones Financial Companies Lllp grew its position in Olin by 59.9% in 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 during the period. Blue Trust Inc. grew its position in Olin by 34.3% in 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 during the period. Finally, Headlands Technologies LLC acquired a new stake in Olin during the fourth quarter worth $127,000. Hedge funds and other institutional investors own 88.67% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on OLN shares. KeyCorp cut their price objective on Olin from $40.00 to $34.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. JPMorgan Chase & Co. cut shares of Olin from an "overweight" rating to a "neutral" rating and dropped their price target for the company from $50.00 to $28.00 in a research report on Thursday, February 27th. BMO Capital Markets decreased their price objective on shares of Olin from $44.00 to $34.00 and set a "market perform" rating on the stock in a report on Wednesday, February 5th. Citigroup cut their target price on Olin from $34.00 to $30.00 and set a "buy" rating on the stock in a research report on Thursday, March 27th. Finally, Mizuho set a $23.00 price target on Olin in a research report on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $33.25.

Olin Stock Up 0.2 %

Shares of NYSE:OLN traded up $0.04 during trading hours on Monday, reaching $20.93. The stock had a trading volume of 1,307,182 shares, compared to its average volume of 1,534,624. The stock has a market capitalization of $2.41 billion, a price-to-earnings ratio of 23.26 and a beta of 1.50. The firm's 50 day moving average is $23.87 and its 200-day moving average is $33.07. Olin Co. has a 1 year low of $17.66 and a 1 year high of $57.10. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.77 and a current ratio of 1.27.

Olin (NYSE:OLN - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $0.09 earnings per share for the quarter, beating analysts' consensus estimates of ($0.01) by $0.10. Olin had a return on equity of 5.10% and a net margin of 1.66%. Research analysts predict that Olin Co. will post 1.38 earnings per share for the current fiscal year.

Olin Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, March 6th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $0.80 dividend on an annualized basis and a yield of 3.82%. Olin's payout ratio is currently 88.89%.

Insider Transactions at Olin

In related news, CEO Kenneth Todd Lane purchased 7,250 shares of Olin stock in a transaction that occurred on Tuesday, February 4th. The stock was purchased at an average cost of $28.06 per share, with a total value of $203,435.00. Following the completion of the transaction, the chief executive officer now directly owns 7,250 shares in the company, valued at approximately $203,435. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.60% of the company's stock.

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.