Stifel Financial Corp Sells 17,226 Shares of Olin Co. (NYSE:OLN)

Stifel Financial Corp reduced its stake in shares of Olin Co. (NYSE:OLN - Free Report) by 16.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 88,533 shares of the specialty chemicals company's stock after selling 17,226 shares during the quarter. Stifel Financial Corp owned about 0.08% of Olin worth $2,992,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Covestor Ltd raised its stake in Olin by 45.8% in the 4th quarter. Covestor Ltd now owns 1,334 shares of the specialty chemicals company's stock worth $45,000 after purchasing an additional 419 shares in the last quarter. Spire Wealth Management grew its stake in Olin by 246.8% in the 4th quarter. Spire Wealth Management now owns 1,616 shares of the specialty chemicals company's stock valued at $55,000 after purchasing an additional 1,150 shares during the period. CoreFirst Bank & Trust bought a new position in shares of Olin in the fourth quarter worth $66,000. Jones Financial Companies Lllp lifted its holdings 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 acquiring an additional 911 shares during the last quarter. Finally, Blue Trust Inc. lifted 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 valued at $98,000 after purchasing an additional 738 shares during the last quarter. Hedge funds and other institutional investors own 88.67% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on OLN shares. Piper Sandler dropped their target price on shares of Olin from $33.00 to $26.00 and set a "neutral" rating for the company in a research report on Monday, April 7th. UBS Group boosted their target price on Olin from $21.00 to $22.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Mizuho set a $23.00 target price on shares of Olin in a research note on Tuesday, April 15th. Citigroup lowered their price objective on Olin from $34.00 to $30.00 and set a "buy" rating for the company in a research note on Thursday, March 27th. Finally, JPMorgan Chase & Co. cut their price objective on Olin from $28.00 to $20.00 and set a "neutral" rating for the company in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $28.60.

Olin Stock Up 0.1 %

Shares of OLN stock traded up $0.03 during trading hours on Friday, reaching $21.44. The company had a trading volume of 343,564 shares, compared to its average volume of 1,576,606. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.77 and a current ratio of 1.27. The stock's fifty day simple moving average is $22.52 and its 200 day simple moving average is $30.98. The company has a market capitalization of $2.47 billion, a P/E ratio of 23.82 and a beta of 1.56. Olin Co. has a twelve month low of $17.66 and a twelve month high of $57.10.

Olin (NYSE:OLN - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $1.64 billion during the quarter, compared to analyst estimates 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 prior year, the firm earned $0.40 earnings per share. As a group, sell-side analysts expect that Olin Co. will post 1.38 earnings per share for the current fiscal year.

Olin Announces Dividend

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

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.