Envestnet Asset Management Inc. Sells 11,965 Shares of Olin Co. (NYSE:OLN)

Envestnet Asset Management Inc. trimmed its stake in shares of Olin Co. (NYSE:OLN - Free Report) by 26.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 33,530 shares of the specialty chemicals company's stock after selling 11,965 shares during the period. Envestnet Asset Management Inc.'s holdings in Olin were worth $1,133,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Spire Wealth Management raised its stake in Olin by 246.8% during the 4th quarter. Spire Wealth Management now owns 1,616 shares of the specialty chemicals company's stock valued at $55,000 after buying an additional 1,150 shares during the last quarter. CoreFirst Bank & Trust purchased a new stake in Olin during the fourth quarter valued at $66,000. Jones Financial Companies Lllp lifted its holdings in Olin by 59.9% in the fourth quarter. Jones Financial Companies Lllp now owns 2,431 shares of the specialty chemicals company's stock valued at $82,000 after acquiring an additional 911 shares during the period. Blue Trust Inc. boosted its position in Olin by 34.3% in the fourth 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 last quarter. Finally, Headlands Technologies LLC bought a new stake in shares of Olin during the 4th quarter valued at about $127,000. Institutional investors own 88.67% of the company's stock.

Olin Price Performance

Shares of NYSE:OLN traded up $0.60 during mid-day trading on Friday, reaching $22.25. The stock had a trading volume of 4,142,890 shares, compared to its average volume of 1,565,886. The business's 50 day moving average price is $22.86 and its 200 day moving average price is $31.70. Olin Co. has a 1 year low of $17.66 and a 1 year high of $57.10. The company has a market cap of $2.56 billion, a P/E ratio of 24.72 and a beta of 1.50. The company has a current ratio of 1.27, a quick ratio of 0.77 and a debt-to-equity ratio of 1.32.

Olin (NYSE:OLN - Get Free Report) last posted its earnings results on Thursday, May 1st. The specialty chemicals company reported $0.04 earnings per share for the quarter, topping analysts' consensus estimates of ($0.10) by $0.14. The firm had revenue of $1.64 billion for 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 business's quarterly revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.40 EPS. Research analysts expect that Olin Co. will post 1.38 EPS for the current fiscal year.

Olin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Thursday, May 15th will be given a dividend of $0.20 per share. The ex-dividend date is Thursday, May 15th. This represents a $0.80 annualized dividend and a dividend yield of 3.60%. Olin's dividend payout ratio (DPR) is presently 88.89%.

Insider Transactions at Olin

In related news, CEO Kenneth Todd Lane acquired 7,250 shares of the firm's stock in a transaction that occurred on Tuesday, February 4th. The stock was bought at an average price of $28.06 per share, for a total transaction of $203,435.00. Following the acquisition, the chief executive officer now directly owns 7,250 shares of the company's stock, valued at $203,435. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.70% of the company's stock.

Analyst Ratings Changes

OLN has been the topic of a number of research reports. Barclays dropped their price objective on shares of Olin from $34.00 to $28.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 1st. Mizuho set a $23.00 price target on shares of Olin in a research note on Tuesday, April 15th. Wells Fargo & Company decreased their target price on Olin from $25.00 to $19.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 9th. Morgan Stanley cut their price target on Olin from $31.00 to $28.00 and set an "underweight" rating for the company in a report on Tuesday, February 4th. Finally, KeyCorp decreased their price objective on Olin from $40.00 to $34.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $30.93.

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.