Duality Advisers LP Lowers Holdings in Olin Co. (NYSE:OLN)

Duality Advisers LP cut its holdings in Olin Co. (NYSE:OLN - Free Report) by 91.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,835 shares of the specialty chemicals company's stock after selling 52,934 shares during the quarter. Duality Advisers LP's holdings in Olin were worth $261,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Ritholtz Wealth Management increased its holdings in shares of Olin by 1.5% during the fourth quarter. Ritholtz Wealth Management now owns 16,389 shares of the specialty chemicals company's stock valued at $884,000 after acquiring an additional 238 shares in the last quarter. Covestor Ltd increased its holdings in shares of Olin by 76.7% during 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 in the last quarter. Treasurer of the State of North Carolina increased its holdings in shares of Olin by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 58,430 shares of the specialty chemicals company's stock valued at $2,920,000 after acquiring an additional 297 shares in the last quarter. Baystate Wealth Management LLC increased its holdings in shares of Olin by 154.6% during 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 in the last quarter. Finally, Sandy Spring Bank increased its holdings in shares of Olin by 145.6% during the fourth quarter. Sandy Spring Bank now owns 614 shares of the specialty chemicals company's stock valued at $33,000 after acquiring an additional 364 shares in the last quarter. 88.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on OLN. Stifel Nicolaus upped their price target on Olin from $65.00 to $66.00 and gave the stock a "buy" rating in a report on Monday, January 29th. Wells Fargo & Company upped their price target on Olin from $56.00 to $60.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 3rd. KeyCorp upped their price target on Olin from $66.00 to $78.00 and gave the stock an "overweight" rating in a report on Tuesday, April 9th. Royal Bank of Canada upped their price target on Olin from $64.00 to $69.00 and gave the stock an "outperform" rating in a report on Friday, April 19th. Finally, The Goldman Sachs Group upped their price target on Olin from $55.00 to $61.00 and gave the stock a "neutral" rating in a report on Tuesday, January 30th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $59.33.

Olin Stock Performance

OLN stock traded up $0.66 during midday trading on Friday, hitting $53.48. The company's stock had a trading volume of 2,022,077 shares, compared to its average volume of 755,565. The stock's 50-day moving average price is $55.63 and its 200 day moving average price is $51.65. The company has a quick ratio of 0.73, a current ratio of 1.29 and a debt-to-equity ratio of 1.14. Olin Co. has a 1 year low of $41.71 and a 1 year high of $60.60. The stock has a market cap of $6.40 billion, a price-to-earnings ratio of 19.24, a PEG ratio of 0.29 and a beta of 1.44.

Olin (NYSE:OLN - Get Free Report) last issued its quarterly earnings results on Friday, April 26th. The specialty chemicals company reported $0.40 EPS for the quarter, beating analysts' consensus estimates of $0.36 by $0.04. Olin had a return on equity of 14.22% and a net margin of 5.32%. The firm had revenue of $1.64 billion for the quarter, compared to analysts' expectations of $1.65 billion. During the same quarter in the prior year, the firm earned $1.16 EPS. The business's revenue for the quarter was down 11.3% compared to the same quarter last year. On average, equities analysts forecast that Olin Co. will post 3.73 EPS for the current year.

Olin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Thursday, May 9th will be given a dividend of $0.20 per share. The ex-dividend date is Wednesday, May 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.50%. Olin's dividend payout ratio is presently 28.78%.

Insider Activity

In other news, CFO Todd A. Slater sold 63,250 shares of the company's stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $54.15, for a total transaction of $3,424,987.50. Following the transaction, the chief financial officer now owns 137,517 shares of the company's stock, valued at approximately $7,446,545.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Scott Mcdougald Sutton sold 48,896 shares of the stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $52.39, for a total transaction of $2,561,661.44. Following the sale, the chief executive officer now owns 90,327 shares of the company's stock, valued at approximately $4,732,231.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Todd A. Slater sold 63,250 shares of the stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $54.15, for a total value of $3,424,987.50. Following the sale, the chief financial officer now directly owns 137,517 shares in the company, valued at approximately $7,446,545.55. The disclosure for this sale can be found here. Insiders have sold 753,274 shares of company stock valued at $40,434,124 in the last 90 days. 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.