Raymond James Financial Services Advisors Inc. Trims Stock Holdings in Olin Co. (NYSE:OLN)

Raymond James Financial Services Advisors Inc. decreased its holdings in shares of Olin Co. (NYSE:OLN - Free Report) by 65.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,704 shares of the specialty chemicals company's stock after selling 32,953 shares during the quarter. Raymond James Financial Services Advisors Inc.'s holdings in Olin were worth $955,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Baystate Wealth Management LLC raised its stake in shares of Olin by 154.6% in the third quarter. Baystate Wealth Management LLC now owns 494 shares of the specialty chemicals company's stock valued at $25,000 after acquiring an additional 300 shares during the period. Salem Investment Counselors Inc. purchased a new stake in shares of Olin in the first quarter valued at $26,000. Covestor Ltd raised its stake in shares of Olin by 76.7% in the third quarter. Covestor Ltd now owns 659 shares of the specialty chemicals company's stock valued at $33,000 after acquiring an additional 286 shares during the period. Quarry LP raised its stake in shares of Olin by 508.6% in the first quarter. Quarry LP now owns 706 shares of the specialty chemicals company's stock valued at $39,000 after acquiring an additional 590 shares during the period. Finally, Motco purchased a new stake in shares of Olin in the third quarter valued at $40,000. Hedge funds and other institutional investors own 88.67% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. UBS Group upped their price target on shares of Olin from $56.00 to $58.00 and gave the stock a "neutral" rating in a report on Friday, January 26th. Citigroup upped their price target on shares of Olin from $63.00 to $67.00 and gave the stock a "buy" rating in a report on Wednesday, April 10th. KeyCorp upped their price target on shares of Olin from $66.00 to $78.00 and gave the stock an "overweight" rating in a report on Tuesday, April 9th. Wells Fargo & Company upped their price target on shares of Olin from $56.00 to $60.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 3rd. Finally, Barclays upped their price target on shares of Olin from $57.00 to $59.00 and gave the stock an "equal weight" rating in a report on Thursday, April 4th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $59.00.

Olin Stock Down 0.9 %

Shares of NYSE:OLN traded down $0.48 during trading on Tuesday, reaching $53.52. The stock had a trading volume of 766,806 shares, compared to its average volume of 1,040,629. Olin Co. has a one year low of $41.71 and a one year high of $60.60. The company has a market capitalization of $6.40 billion, a P/E ratio of 15.12, a PEG ratio of 0.30 and a beta of 1.44. The company has a current ratio of 1.29, a quick ratio of 0.73 and a debt-to-equity ratio of 1.14. The firm's 50-day simple moving average is $55.34 and its 200 day simple moving average is $51.37.

Olin (NYSE:OLN - Get Free Report) last released its quarterly earnings results on Thursday, January 25th. The specialty chemicals company reported $0.30 earnings per share for the quarter, beating analysts' consensus estimates of $0.20 by $0.10. Olin had a net margin of 6.74% and a return on equity of 18.44%. The business had revenue of $1.61 billion for the quarter, compared to analysts' expectations of $1.50 billion. As a group, research analysts expect that Olin Co. will post 3.75 EPS for the current fiscal year.

Olin Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, March 7th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date was Wednesday, March 6th. Olin's dividend payout ratio is currently 22.60%.

Insider Activity

In other news, VP Valerie A. Peters sold 71,800 shares of the firm's stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $52.52, for a total value of $3,770,936.00. Following the sale, the vice president now directly owns 19,469 shares in the company, valued at approximately $1,022,511.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP Valerie A. Peters sold 71,800 shares of the stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $52.52, for a total value of $3,770,936.00. Following the completion of the transaction, the vice president now directly owns 19,469 shares of the company's stock, valued at approximately $1,022,511.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Scott Mcdougald Sutton sold 539,328 shares of the stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $53.96, for a total transaction of $29,102,138.88. Following the completion of the transaction, the chief executive officer now directly owns 47,620 shares of the company's stock, valued at $2,569,575.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 753,274 shares of company stock worth $40,434,124. Corporate insiders own 1.80% 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.