Olin Co. (NYSE:OLN) Shares Sold by Lmcg Investments LLC

Lmcg Investments LLC reduced its position in shares of Olin Co. (NYSE:OLN - Free Report) by 39.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 37,342 shares of the specialty chemicals company's stock after selling 23,845 shares during the quarter. Lmcg Investments LLC's holdings in Olin were worth $2,015,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Covestor Ltd increased its holdings in Olin by 76.7% during the 3rd quarter. Covestor Ltd now owns 659 shares of the specialty chemicals company's stock worth $33,000 after purchasing an additional 286 shares during the period. Sandy Spring Bank increased its holdings in shares of Olin by 145.6% in the 4th 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 during the period. Motco purchased a new position in shares of Olin in the 3rd quarter valued at $40,000. ORG Partners LLC purchased a new position in shares of Olin in the 3rd quarter valued at $44,000. Finally, GAMMA Investing LLC purchased a new position in shares of Olin in the 4th quarter valued at $96,000. 88.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Scott Mcdougald Sutton sold 15,000 shares of the company's stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $52.50, for a total value of $787,500.00. Following the completion of the sale, the chief executive officer now directly owns 75,327 shares in the company, valued at $3,954,667.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 78,896 shares of company stock worth $4,136,061 over the last ninety days. Corporate insiders own 1.80% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on OLN. Royal Bank of Canada cut their price target on Olin from $69.00 to $63.00 and set an "outperform" rating on the stock in a report on Monday, April 29th. Barclays lifted their price target on Olin from $57.00 to $59.00 and gave the company an "equal weight" rating in a report on Thursday, April 4th. Wells Fargo & Company raised their price objective on Olin from $56.00 to $60.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 3rd. Stifel Nicolaus raised their price objective on Olin from $68.00 to $69.00 and gave the stock a "buy" rating in a research report on Monday, April 29th. Finally, Piper Sandler raised 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. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Olin has a consensus rating of "Hold" and an average target price of $60.00.

Olin Price Performance

NYSE:OLN traded up $0.86 during trading hours on Tuesday, hitting $56.52. 573,511 shares of the stock were exchanged, compared to its average volume of 1,015,681. Olin Co. has a 52-week low of $41.71 and a 52-week high of $60.60. The firm's fifty day moving average price is $55.97 and its 200 day moving average price is $52.34. The company has a current ratio of 1.38, a quick ratio of 0.80 and a debt-to-equity ratio of 1.22. The company has a market cap of $6.75 billion, a P/E ratio of 20.33, a P/E/G ratio of 0.32 and a beta of 1.48.

Olin (NYSE:OLN - Get Free Report) last posted its quarterly earnings data 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. Olin had a return on equity of 14.47% and a net margin of 5.32%. The company had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same period in the previous year, the business earned $1.16 EPS. Olin's quarterly revenue was down 11.3% on a year-over-year basis. As a group, equities research analysts anticipate that Olin Co. will post 3.68 EPS for the current fiscal year.

Olin Announces Dividend

The business 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 $0.20 dividend. The ex-dividend date of this dividend is Wednesday, May 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.42%. Olin's dividend payout ratio (DPR) is presently 28.78%.

Olin Company 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.