Wells Fargo & Company MN Has $1.83 Million Stake in Olin Co. (NYSE:OLN)

Wells Fargo & Company MN reduced its holdings in shares of Olin Co. (NYSE:OLN - Free Report) by 58.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 54,009 shares of the specialty chemicals company's stock after selling 76,001 shares during the quarter. Wells Fargo & Company MN's holdings in Olin were worth $1,826,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in OLN. Spire Wealth Management raised its stake in shares of 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 purchasing an additional 1,150 shares during the period. CoreFirst Bank & Trust bought a new stake in Olin during the 4th quarter worth approximately $66,000. Jones Financial Companies Lllp lifted its stake in Olin by 59.9% in 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 in the last quarter. Blue Trust Inc. boosted its holdings in Olin by 34.3% in the 4th 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 period. Finally, Headlands Technologies LLC purchased a new position in shares of Olin during the 4th quarter valued at $127,000. Institutional investors and hedge funds own 88.67% of the company's stock.

Wall Street Analyst Weigh In

OLN has been the subject of several analyst reports. Royal Bank of Canada cut shares of Olin from an "outperform" rating to a "sector perform" rating and dropped their price target for the company from $45.00 to $30.00 in a research report on Tuesday, February 4th. UBS Group decreased their price objective on shares of Olin from $34.00 to $21.00 and set a "neutral" rating for the company in a research report on Monday, April 7th. BMO Capital Markets reduced their price objective on Olin from $44.00 to $34.00 and set a "market perform" rating for the company in a research note on Wednesday, February 5th. Citigroup dropped 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, Morgan Stanley reduced their price target on shares of Olin from $31.00 to $28.00 and set an "underweight" rating for the company in a research report on Tuesday, February 4th. One investment 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. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $30.87.

Olin Stock Up 0.6 %

NYSE OLN traded up $0.14 during trading hours on Thursday, hitting $21.76. 353,639 shares of the company were exchanged, compared to its average volume of 1,544,517. The company has a 50 day moving average of $23.04 and a two-hundred day moving average of $32.04. The firm has a market cap of $2.50 billion, a price-to-earnings ratio of 24.21 and a beta of 1.50. 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 Co. has a 52-week low of $17.66 and a 52-week high of $57.10.

Olin (NYSE:OLN - Get Free Report) last issued its earnings results on Thursday, January 30th. The specialty chemicals company reported $0.09 EPS for the quarter, beating analysts' consensus estimates of ($0.01) by $0.10. Olin had a return on equity of 5.10% and a net margin of 1.66%. Equities research analysts anticipate that Olin Co. will post 1.38 earnings per share for the current year.

Olin Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, March 6th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $0.80 annualized dividend and a dividend yield of 3.68%. Olin's dividend payout ratio is presently 88.89%.

Insider Transactions at Olin

In related news, CEO Kenneth Todd Lane acquired 7,250 shares of the business's stock in a transaction dated Tuesday, February 4th. The stock was acquired at an average price of $28.06 per share, with a total value of $203,435.00. Following the completion of the transaction, the chief executive officer now owns 7,250 shares of the company's stock, valued at approximately $203,435. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.70% of the company's stock.

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.