First Trust Advisors LP Has $9.01 Million Holdings in Olin Co. (NYSE:OLN)

First Trust Advisors LP reduced its stake in shares of Olin Co. (NYSE:OLN - Free Report) by 22.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 266,643 shares of the specialty chemicals company's stock after selling 75,333 shares during the quarter. First Trust Advisors LP owned about 0.23% of Olin worth $9,013,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in OLN. Covestor Ltd raised its stake in Olin by 45.8% during the 4th quarter. Covestor Ltd now owns 1,334 shares of the specialty chemicals company's stock valued at $45,000 after acquiring an additional 419 shares in the last quarter. Spire Wealth Management increased its holdings in shares of Olin by 246.8% during the fourth quarter. Spire Wealth Management now owns 1,616 shares of the specialty chemicals company's stock valued at $55,000 after purchasing an additional 1,150 shares during the period. CoreFirst Bank & Trust bought a new stake in shares of Olin during the fourth quarter valued at about $66,000. Jones Financial Companies Lllp lifted its holdings 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 purchasing an additional 911 shares during the period. Finally, Blue Trust Inc. grew its position in Olin by 34.3% in the 4th quarter. Blue Trust Inc. now owns 2,887 shares of the specialty chemicals company's stock valued at $98,000 after buying an additional 738 shares in the last quarter. 88.67% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Olin

In related news, CEO Kenneth Todd Lane purchased 7,250 shares of the firm's stock in a transaction that occurred on Tuesday, February 4th. The stock was acquired at an average cost of $28.06 per share, for a total transaction of $203,435.00. Following the completion of the acquisition, the chief executive officer now owns 7,250 shares in the company, valued at $203,435. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.60% of the company's stock.

Olin Trading Up 2.8 %

Shares of OLN traded up $0.60 during midday trading on Friday, hitting $22.25. The stock had a trading volume of 4,142,890 shares, compared to its average volume of 1,568,356. Olin Co. has a fifty-two week low of $17.66 and a fifty-two week high of $57.10. The business has a 50-day simple moving average of $22.86 and a two-hundred day simple moving average of $31.48. The company has a current ratio of 1.27, a quick ratio of 0.77 and a debt-to-equity ratio of 1.32. The firm has a market cap of $2.56 billion, a P/E ratio of 24.72 and a beta of 1.56.

Olin (NYSE:OLN - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The specialty chemicals company reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.14. The firm had revenue of $1.64 billion for the quarter, compared to analysts' expectations of $1.58 billion. Olin had a net margin of 1.66% and a return on equity of 5.10%. The company's quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.40 EPS. As a group, equities analysts forecast that Olin Co. will post 1.38 EPS for the current year.

Olin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Thursday, May 15th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $0.80 dividend on an annualized basis and a yield of 3.60%. Olin's payout ratio is presently 156.86%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. BMO Capital Markets dropped their price target on shares of Olin from $44.00 to $34.00 and set a "market perform" rating on the stock in a research report on Wednesday, February 5th. Barclays dropped their target price on Olin from $34.00 to $28.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 1st. Morgan Stanley lowered their price target on Olin from $31.00 to $28.00 and set an "underweight" rating on the stock in a research report on Tuesday, February 4th. Mizuho set a $23.00 price objective on Olin in a report on Tuesday, April 15th. Finally, Bank of America raised Olin from a "neutral" rating to a "buy" rating and lowered their target price for the stock from $48.00 to $40.00 in a report on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $30.93.

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.