Hsbc Holdings PLC Sells 191,729 Shares of Olin Co. (NYSE:OLN)

Hsbc Holdings PLC reduced its position in shares of Olin Co. (NYSE:OLN - Free Report) by 64.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 107,723 shares of the specialty chemicals company's stock after selling 191,729 shares during the period. Hsbc Holdings PLC owned 0.09% of Olin worth $3,618,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Covestor Ltd lifted its position in shares of Olin by 45.8% during the 4th quarter. Covestor Ltd now owns 1,334 shares of the specialty chemicals company's stock worth $45,000 after buying an additional 419 shares in the last quarter. Spire Wealth Management lifted its holdings in Olin by 246.8% during the fourth quarter. Spire Wealth Management now owns 1,616 shares of the specialty chemicals company's stock worth $55,000 after acquiring an additional 1,150 shares during the period. CoreFirst Bank & Trust purchased a new position in Olin in the fourth quarter worth $66,000. Jones Financial Companies Lllp raised its stake in shares of Olin by 59.9% during the 4th 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. raised its stake in shares of Olin by 34.3% during the 4th quarter. Blue Trust Inc. now owns 2,887 shares of the specialty chemicals company's stock worth $98,000 after purchasing an additional 738 shares during the period. 88.67% of the stock is currently owned by hedge funds and other institutional investors.

Olin Price Performance

OLN traded down $0.77 on Monday, reaching $21.43. The company had a trading volume of 197,384 shares, compared to its average volume of 1,916,129. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.77 and a current ratio of 1.27. Olin Co. has a 52-week low of $17.66 and a 52-week high of $57.10. The company has a market cap of $2.47 billion, a price-to-earnings ratio of 23.84 and a beta of 1.56. The business has a 50 day simple moving average of $22.86 and a 200 day simple moving average of $31.48.

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 (EPS) for the quarter, topping analysts' consensus estimates of ($0.10) by $0.14. The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.58 billion. Olin had a net margin of 1.66% and a return on equity of 5.10%. The firm's revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.40 EPS. As a group, sell-side analysts anticipate that Olin Co. will post 1.38 EPS for the current year.

Olin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Thursday, May 15th will be issued a dividend of $0.20 per share. The ex-dividend date is Thursday, May 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.73%. Olin's dividend payout ratio is 156.86%.

Analyst Ratings Changes

Several analysts have commented on the stock. Citigroup lowered their price objective on shares of Olin from $34.00 to $30.00 and set a "buy" rating on the stock in a research report on Thursday, March 27th. Barclays reduced their price objective on Olin from $34.00 to $28.00 and set an "equal weight" rating for the company in a report on Tuesday, April 1st. KeyCorp lowered their target price on Olin from $40.00 to $34.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. Wells Fargo & Company cut their price target on Olin from $25.00 to $19.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 9th. Finally, Morgan Stanley lowered their price objective on Olin from $31.00 to $28.00 and set an "underweight" rating on the stock in a research note on Tuesday, February 4th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $30.93.

Insider Buying and Selling

In other Olin news, CEO Kenneth Todd Lane acquired 7,250 shares of the stock in a transaction dated Tuesday, February 4th. The stock was purchased at an average cost of $28.06 per share, for a total transaction of $203,435.00. Following the acquisition, the chief executive officer now owns 7,250 shares in the company, valued at $203,435. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 1.60% of the stock is currently owned by corporate insiders.

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.