Raymond James Financial Inc. Acquires New Position in Olin Co. (NYSE:OLN)

Raymond James Financial Inc. purchased a new position in Olin Co. (NYSE:OLN - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 200,573 shares of the specialty chemicals company's stock, valued at approximately $6,779,000. Raymond James Financial Inc. owned approximately 0.17% of Olin as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of OLN. Wilmington Savings Fund Society FSB grew its position in shares of Olin by 9.4% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 5,833 shares of the specialty chemicals company's stock valued at $197,000 after acquiring an additional 500 shares during the period. Connable Office Inc. grew its stake in shares of Olin by 9.3% in the 4th quarter. Connable Office Inc. now owns 6,207 shares of the specialty chemicals company's stock worth $210,000 after buying an additional 527 shares in the last quarter. First Citizens Bank & Trust Co. raised its position in Olin by 8.5% during the fourth quarter. First Citizens Bank & Trust Co. now owns 6,930 shares of the specialty chemicals company's stock valued at $234,000 after purchasing an additional 542 shares during the period. Blue Trust Inc. boosted its stake in Olin by 34.3% during the fourth quarter. Blue Trust Inc. now owns 2,887 shares of the specialty chemicals company's stock worth $98,000 after buying an additional 738 shares during the period. Finally, Xponance Inc. grew its stake in shares of Olin by 5.9% during the fourth quarter. Xponance Inc. now owns 13,435 shares of the specialty chemicals company's stock valued at $454,000 after buying an additional 754 shares during the last quarter. 88.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on OLN shares. KeyCorp dropped their target price on shares of Olin from $40.00 to $34.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. UBS Group decreased their target price on Olin from $34.00 to $21.00 and set a "neutral" rating for the company in a report on Monday, April 7th. Piper Sandler decreased their price objective on Olin from $33.00 to $26.00 and set a "neutral" rating for the company in a report on Monday, April 7th. Mizuho set a $23.00 price objective on Olin in a report on Tuesday, April 15th. Finally, Barclays lowered their price target on Olin from $34.00 to $28.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 1st. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $33.25.

Insider Buying and Selling at Olin

In other Olin news, CEO Kenneth Todd Lane purchased 7,250 shares of the company's stock in a transaction dated Tuesday, February 4th. The stock was purchased at an average price of $28.06 per share, for a total transaction of $203,435.00. Following the transaction, 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.70% of the company's stock.

Olin Stock Up 0.6 %

Shares of NYSE:OLN traded up $0.12 during midday trading on Tuesday, hitting $21.99. The stock had a trading volume of 129,099 shares, compared to its average volume of 1,540,497. Olin Co. has a 12 month low of $17.66 and a 12 month high of $57.10. The company has a market cap of $2.53 billion, a P/E ratio of 24.41 and a beta of 1.50. The business's 50-day simple moving average is $23.26 and its 200-day simple moving average is $32.18. The company has a quick ratio of 0.77, a current ratio of 1.27 and a debt-to-equity ratio of 1.32.

Olin (NYSE:OLN - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $0.09 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.10. Olin had a return on equity of 5.10% and a net margin of 1.66%. On average, sell-side analysts forecast that Olin Co. will post 1.38 earnings per share for the current fiscal year.

Olin Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, March 6th were issued a $0.20 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.64%. Olin's dividend payout ratio is presently 88.89%.

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.