Searle & CO. Sells 800 Shares of Olin Co. (NYSE:OLN)

Searle & CO. decreased its position in Olin Co. (NYSE:OLN) by 3.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 24,300 shares of the specialty chemicals company’s stock after selling 800 shares during the period. Searle & CO.’s holdings in Olin were worth $1,146,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. LRI Investments LLC bought a new position in shares of Olin during the first quarter valued at $28,000. EverSource Wealth Advisors LLC increased its holdings in Olin by 4,375.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 537 shares of the specialty chemicals company’s stock worth $32,000 after buying an additional 525 shares in the last quarter. Fifth Third Bancorp increased its holdings in Olin by 30.0% in the 1st quarter. Fifth Third Bancorp now owns 858 shares of the specialty chemicals company’s stock worth $50,000 after buying an additional 198 shares in the last quarter. Quarry LP bought a new stake in Olin in the 4th quarter worth about $50,000. Finally, Headlands Technologies LLC bought a new stake in Olin in the 1st quarter worth about $69,000. Institutional investors own 88.67% of the company’s stock.

Analyst Upgrades and Downgrades

OLN has been the subject of a number of recent research reports. JPMorgan Chase & Co. upgraded Olin from a “neutral” rating to an “overweight” rating and set a $55.00 price target for the company in a research note on Monday, July 29th. Mizuho initiated coverage on Olin in a research note on Thursday, August 8th. They set a “neutral” rating and a $45.00 price target for the company. Royal Bank of Canada cut their price target on Olin from $61.00 to $52.00 and set an “outperform” rating for the company in a research note on Monday, July 29th. Piper Sandler cut their price target on Olin from $75.00 to $57.00 and set an “overweight” rating for the company in a research note on Tuesday, July 30th. Finally, Barclays cut their price target on Olin from $59.00 to $49.00 and set an “equal weight” rating for the company in a research note on Monday, July 29th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $53.27.

Olin Stock Up 0.3 %

Shares of Olin stock traded up $0.12 during trading on Friday, hitting $43.67. 917,673 shares of the stock traded hands, compared to its average volume of 1,110,131. The firm has a market cap of $5.22 billion, a P/E ratio of 15.71, a price-to-earnings-growth ratio of 0.92 and a beta of 1.44. The company has a current ratio of 1.43, a quick ratio of 0.82 and a debt-to-equity ratio of 1.29. Olin Co. has a 52-week low of $40.26 and a 52-week high of $60.60. The stock’s fifty day simple moving average is $45.17 and its 200 day simple moving average is $51.16.

Olin (NYSE:OLN) last released its earnings results on Thursday, July 25th. The specialty chemicals company reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.08). The firm had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.71 billion. Olin had a return on equity of 11.73% and a net margin of 4.26%. The company’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period last year, the firm earned $1.13 EPS. On average, equities analysts predict that Olin Co. will post 1.61 earnings per share for the current fiscal year.

Olin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Thursday, August 8th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date of this dividend is Thursday, August 8th. Olin’s dividend payout ratio is presently 28.78%.

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.