Swiss National Bank Sells 34,400 Shares of Olin Co. (NYSE:OLN)

Swiss National Bank lowered its stake in shares of Olin Co. (NYSE:OLN - Free Report) by 12.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 235,632 shares of the specialty chemicals company's stock after selling 34,400 shares during the period. Swiss National Bank owned 0.19% of Olin worth $12,712,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Sandy Spring Bank raised its stake in Olin by 145.6% in the fourth quarter. Sandy Spring Bank now owns 614 shares of the specialty chemicals company's stock valued at $33,000 after buying an additional 364 shares during the period. Covestor Ltd raised its stake in Olin by 76.7% in the 3rd 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. Motco acquired a new stake in Olin during the 3rd quarter valued at $40,000. ORG Partners LLC bought a new position in Olin during the third quarter worth $44,000. Finally, GAMMA Investing LLC bought a new position in shares of Olin in the fourth quarter valued at about $96,000. Institutional investors and hedge funds own 88.67% of the company's stock.

Olin Price Performance

Shares of OLN traded down $0.60 during midday trading on Friday, hitting $55.31. The company's stock had a trading volume of 557,798 shares, compared to its average volume of 964,441. The company has a quick ratio of 0.80, a current ratio of 1.38 and a debt-to-equity ratio of 1.22. Olin Co. has a one year low of $41.71 and a one year high of $60.60. The stock has a market capitalization of $6.61 billion, a price-to-earnings ratio of 19.90, a price-to-earnings-growth ratio of 0.32 and a beta of 1.48. The company's fifty day simple moving average is $55.95 and its two-hundred day simple moving average is $52.17.

Olin (NYSE:OLN - Get Free Report) last issued its earnings results on Friday, April 26th. The specialty chemicals company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.38 by $0.02. The firm had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.65 billion. Olin had a return on equity of 14.47% and a net margin of 5.32%. The business's quarterly revenue was down 11.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.16 earnings per share. As a group, equities analysts expect that Olin Co. will post 3.68 earnings per share for the current fiscal year.

Olin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Thursday, May 9th will be paid 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 1.45%. Olin's payout ratio is presently 28.78%.

Insider Transactions at Olin

In related news, CEO Scott Mcdougald Sutton sold 15,000 shares of the business's stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $52.50, for a total transaction of $787,500.00. Following the sale, the chief executive officer now owns 75,327 shares in the company, valued at approximately $3,954,667.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last ninety days, insiders sold 78,896 shares of company stock worth $4,136,061. Corporate insiders own 1.60% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Bank of America reduced their target price on shares of Olin from $74.00 to $72.00 and set a "buy" rating for the company in a report on Monday, April 29th. Citigroup boosted their price target on Olin from $63.00 to $67.00 and gave the company a "buy" rating in a research note on Wednesday, April 10th. Piper Sandler increased their price objective on Olin from $72.00 to $75.00 and gave the stock an "overweight" rating in a research report on Monday, April 29th. Barclays boosted their target price on shares of Olin from $57.00 to $59.00 and gave the company an "equal weight" rating in a research report on Thursday, April 4th. Finally, The Goldman Sachs Group lifted their price objective on shares of Olin from $55.00 to $61.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 30th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $60.00.

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.