ARS Investment Partners LLC Sells 163,604 Shares of Olin Corporation $OLN

Key Points

• ARS Investment Partners LLC cut its Olin stake by 94.4% in the fourth quarter, selling 163,604 shares and leaving it with 9,641 shares worth about $201,000.
• Olin also saw insider selling, with VP Angela M. Castle selling 2,379 shares at $24.25 each, reducing her position by 60.89%.
• The company recently declared a quarterly dividend of $0.20 per share and received mixed analyst updates, with a consensus rating of “Hold” and an average price target of $27.79.

ARS Investment Partners LLC lessened its holdings in shares of Olin Corporation (NYSE:OLN - Free Report) by 94.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,641 shares of the specialty chemicals company's stock after selling 163,604 shares during the quarter. ARS Investment Partners LLC's holdings in Olin were worth $201,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. ARGA Investment Management LP lifted its stake in shares of Olin by 0.9% in the third quarter. ARGA Investment Management LP now owns 60,359 shares of the specialty chemicals company's stock worth $1,508,000 after buying an additional 546 shares during the last quarter. Madison Asset Management LLC increased its position in Olin by 0.6% during the fourth quarter. Madison Asset Management LLC now owns 97,616 shares of the specialty chemicals company's stock worth $2,033,000 after acquiring an additional 555 shares during the period. Wilmington Savings Fund Society FSB increased 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 acquiring an additional 579 shares during the period. FORA Capital LLC increased its position in Olin by 2.6% during the second quarter. FORA Capital LLC now owns 24,453 shares of the specialty chemicals company's stock worth $491,000 after acquiring an additional 625 shares during the period. Finally, NewEdge Advisors LLC increased its position in Olin by 45.0% during the third quarter. NewEdge Advisors LLC now owns 2,323 shares of the specialty chemicals company's stock worth $58,000 after acquiring an additional 721 shares during the period. Institutional investors own 88.67% of the company's stock.

Insider Transactions at Olin

In related news, VP Angela M. Castle sold 2,379 shares of the stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $24.25, for a total transaction of $57,690.75. Following the completion of the sale, the vice president directly owned 1,528 shares of the company's stock, valued at approximately $37,054. This represents a 60.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.60% of the company's stock.

Olin Stock Performance

Shares of NYSE:OLN opened at $26.78 on Monday. The company has a market capitalization of $3.05 billion, a price-to-earnings ratio of -23.91 and a beta of 1.21. The firm's 50 day simple moving average is $27.15 and its 200 day simple moving average is $23.85. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.36 and a quick ratio of 0.82. Olin Corporation has a fifty-two week low of $18.08 and a fifty-two week high of $30.46.

Olin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Thursday, May 14th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Thursday, May 14th. Olin's dividend payout ratio is presently -71.43%.

Analyst Ratings Changes

Several equities research analysts have issued reports on OLN shares. The Goldman Sachs Group boosted their price target on shares of Olin from $22.00 to $31.00 and gave the company a "neutral" rating in a report on Tuesday, May 12th. UBS Group upped their price target on shares of Olin from $29.00 to $31.00 and gave the stock a "neutral" rating in a research report on Wednesday. JPMorgan Chase & Co. upped their price target on shares of Olin from $20.00 to $26.00 and gave the stock a "neutral" rating in a research report on Friday. Morgan Stanley upped their price target on shares of Olin from $18.00 to $22.00 and gave the stock an "underweight" rating in a research report on Monday, May 11th. Finally, Wells Fargo & Company reiterated an "overweight" rating and set a $37.00 price target on shares of Olin in a research report on Sunday, May 10th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $27.79.

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.

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