Yacktman Asset Management LP Has $229.93 Million Stock Position in Olin Co. (NYSE:OLN)

Yacktman Asset Management LP cut its holdings in Olin Co. (NYSE:OLN) by 0.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,261,861 shares of the specialty chemicals company’s stock after selling 34,987 shares during the period. Olin makes up approximately 2.1% of Yacktman Asset Management LP’s investment portfolio, making the stock its 18th largest position. Yacktman Asset Management LP owned about 3.48% of Olin worth $229,927,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Ritholtz Wealth Management grew its position in shares of Olin by 1.5% during the 4th quarter. Ritholtz Wealth Management now owns 16,389 shares of the specialty chemicals company’s stock worth $884,000 after purchasing an additional 238 shares in the last quarter. Covestor Ltd increased its stake in Olin by 76.7% during the 3rd quarter. Covestor Ltd now owns 659 shares of the specialty chemicals company’s stock worth $33,000 after acquiring an additional 286 shares during the period. Treasurer of the State of North Carolina raised its holdings in Olin by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 58,430 shares of the specialty chemicals company’s stock valued at $2,920,000 after acquiring an additional 297 shares in the last quarter. Baystate Wealth Management LLC lifted its position in shares of Olin by 154.6% during the 3rd quarter. Baystate Wealth Management LLC now owns 494 shares of the specialty chemicals company’s stock valued at $25,000 after acquiring an additional 300 shares during the period. Finally, Sandy Spring Bank grew its holdings in shares of Olin by 145.6% during the 4th quarter. Sandy Spring Bank now owns 614 shares of the specialty chemicals company’s stock worth $33,000 after purchasing an additional 364 shares in the last quarter. 88.67% of the stock is owned by institutional investors.

Insider Buying and Selling at Olin

In related news, CEO Scott Mcdougald Sutton sold 48,896 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $52.39, for a total value of $2,561,661.44. Following the transaction, the chief executive officer now owns 90,327 shares in the company, valued at $4,732,231.53. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, CEO Scott Mcdougald Sutton sold 48,896 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $52.39, for a total value of $2,561,661.44. Following the sale, the chief executive officer now owns 90,327 shares in the company, valued at approximately $4,732,231.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Valerie A. Peters sold 71,800 shares of the business’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $52.52, for a total value of $3,770,936.00. Following the sale, the vice president now directly owns 19,469 shares of the company’s stock, valued at $1,022,511.88. The disclosure for this sale can be found here. In the last 90 days, insiders sold 753,274 shares of company stock valued at $40,434,124. 1.60% of the stock is currently owned by company insiders.

Olin Trading Up 1.1 %

NYSE OLN traded up $0.56 during trading hours on Friday, reaching $53.38. The company’s stock had a trading volume of 1,389,057 shares, compared to its average volume of 1,020,483. Olin Co. has a 52 week low of $41.71 and a 52 week high of $60.60. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.29 and a quick ratio of 0.73. The stock has a market cap of $6.39 billion, a P/E ratio of 14.97, a P/E/G ratio of 0.29 and a beta of 1.44. The firm has a fifty day simple moving average of $55.61 and a 200-day simple moving average of $51.59.

Olin (NYSE:OLN) last issued its quarterly earnings results on Thursday, April 25th. The specialty chemicals company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.04. The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.65 billion. Olin had a net margin of 6.74% and a return on equity of 18.44%. Olin’s revenue was down 11.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.16 earnings per share. Equities analysts forecast that Olin Co. will post 3.73 earnings per share for the current fiscal year.

Olin Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, March 7th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.50%. The ex-dividend date of this dividend was Wednesday, March 6th. Olin’s payout ratio is presently 22.60%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on OLN shares. Citigroup upped their price objective on shares of Olin from $63.00 to $67.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. KeyCorp upped their price target on shares of Olin from $66.00 to $78.00 and gave the stock an “overweight” rating in a report on Tuesday, April 9th. Royal Bank of Canada boosted their price objective on shares of Olin from $64.00 to $69.00 and gave the company an “outperform” rating in a research report on Friday, April 19th. Barclays raised their target price on Olin from $57.00 to $59.00 and gave the company an “equal weight” rating in a report on Thursday, April 4th. Finally, Stifel Nicolaus boosted their price target on Olin from $65.00 to $66.00 and gave the stock a “buy” rating in a report on Monday, January 29th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $59.33.

Olin 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.