Duality Advisers LP Cuts Position in Olin Co. (NYSE:OLN)

Duality Advisers LP cut its holdings in Olin Co. (NYSE:OLN) by 91.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,835 shares of the specialty chemicals company’s stock after selling 52,934 shares during the period. Duality Advisers LP’s holdings in Olin were worth $261,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in OLN. Pzena Investment Management LLC raised its stake in shares of Olin by 15.6% during the third quarter. Pzena Investment Management LLC now owns 2,940,658 shares of the specialty chemicals company’s stock valued at $146,974,000 after acquiring an additional 397,050 shares during the last quarter. Thompson Siegel & Walmsley LLC raised its stake in shares of Olin by 0.7% during the third quarter. Thompson Siegel & Walmsley LLC now owns 1,321,017 shares of the specialty chemicals company’s stock valued at $66,024,000 after acquiring an additional 8,788 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Olin by 8.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,192,018 shares of the specialty chemicals company’s stock valued at $59,577,000 after acquiring an additional 89,656 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Olin by 21.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,179,543 shares of the specialty chemicals company’s stock valued at $58,954,000 after acquiring an additional 206,398 shares during the last quarter. Finally, Invesco Ltd. raised its stake in shares of Olin by 5.3% during the third quarter. Invesco Ltd. now owns 1,132,733 shares of the specialty chemicals company’s stock valued at $56,614,000 after acquiring an additional 57,364 shares during the last quarter. 88.67% of the stock is owned by institutional investors.

Insider Activity at Olin

In related news, CEO Scott Mcdougald Sutton sold 539,328 shares of the firm’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $53.96, for a total value of $29,102,138.88. Following the transaction, the chief executive officer now directly owns 47,620 shares of the company’s stock, valued at approximately $2,569,575.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Olin news, CFO Todd A. Slater sold 63,250 shares of the business’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $54.15, for a total transaction of $3,424,987.50. Following the completion of the sale, the chief financial officer now owns 137,517 shares of the company’s stock, valued at $7,446,545.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Scott Mcdougald Sutton sold 539,328 shares of the business’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $53.96, for a total value of $29,102,138.88. Following the sale, the chief executive officer now directly owns 47,620 shares of the company’s stock, valued at approximately $2,569,575.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 753,274 shares of company stock worth $40,434,124. 1.60% of the stock is owned by insiders.

Olin Stock Up 1.2 %

Olin stock opened at $53.48 on Friday. The firm has a market cap of $6.40 billion, a price-to-earnings ratio of 19.24, a PEG ratio of 0.29 and a beta of 1.44. The company has a current ratio of 1.29, a quick ratio of 0.73 and a debt-to-equity ratio of 1.14. Olin Co. has a 12 month low of $41.71 and a 12 month high of $60.60. The stock has a fifty day simple moving average of $55.63 and a two-hundred day simple moving average of $51.63.

Olin (NYSE:OLN) last announced its quarterly earnings results on Thursday, April 25th. The specialty chemicals company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. The firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.65 billion. Olin had a return on equity of 14.22% and a net margin of 5.32%. The company’s quarterly revenue was down 11.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.16 earnings per share. Equities analysts predict that Olin Co. will post 3.73 EPS for the current fiscal year.

Olin Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, March 7th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date of this dividend was Wednesday, March 6th. Olin’s dividend payout ratio (DPR) is presently 28.78%.

Analysts Set New Price Targets

Several brokerages have recently commented on OLN. KeyCorp upped their price objective on shares of Olin from $66.00 to $78.00 and gave the company an “overweight” rating in a research note on Tuesday, April 9th. Citigroup raised their target price on Olin from $63.00 to $67.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Barclays upped their price target on Olin from $57.00 to $59.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 4th. Wells Fargo & Company raised their price objective on Olin from $56.00 to $60.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 3rd. Finally, Stifel Nicolaus upped their target price on shares of Olin from $65.00 to $66.00 and gave the stock a “buy” rating in a research report on Monday, January 29th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $59.33.

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.