Olin Co. (NYSE:OLN) is Coombe Bender & Co LLC’s 8th Largest Position

Coombe Bender & Co LLC raised its position in Olin Co. (NYSE:OLN) by 4.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 95,299 shares of the specialty chemicals company’s stock after purchasing an additional 4,322 shares during the quarter. Olin makes up approximately 3.2% of Coombe Bender & Co LLC’s holdings, making the stock its 8th biggest position. Coombe Bender & Co LLC owned about 0.08% of Olin worth $5,141,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Xponance Inc. raised its stake in shares of Olin by 3.0% in the 3rd quarter. Xponance Inc. now owns 15,174 shares of the specialty chemicals company’s stock valued at $758,000 after acquiring an additional 444 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its position in shares of Olin by 209.4% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 50,657 shares of the specialty chemicals company’s stock valued at $2,532,000 after purchasing an additional 34,285 shares during the period. Arnhold LLC lifted its stake in shares of Olin by 29.8% in the third quarter. Arnhold LLC now owns 225,338 shares of the specialty chemicals company’s stock worth $11,262,000 after buying an additional 51,768 shares during the last quarter. Monument Capital Management grew its stake in Olin by 1.6% in the 3rd quarter. Monument Capital Management now owns 30,862 shares of the specialty chemicals company’s stock valued at $1,543,000 after buying an additional 479 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Olin by 13.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,291 shares of the specialty chemicals company’s stock worth $964,000 after acquiring an additional 2,330 shares during the period. 88.67% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Bank of America lowered their price target on Olin from $74.00 to $72.00 and set a “buy” rating on the stock in a research report on Monday. The Goldman Sachs Group lifted their price target on Olin from $55.00 to $61.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 30th. Piper Sandler increased their price objective on Olin from $72.00 to $75.00 and gave the company an “overweight” rating in a research report on Monday. Stifel Nicolaus boosted their target price on shares of Olin from $68.00 to $69.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Royal Bank of Canada reduced their price target on shares of Olin from $69.00 to $63.00 and set an “outperform” rating for the company in a report on Monday. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Olin has an average rating of “Hold” and a consensus target price of $60.00.

Olin Price Performance

Shares of OLN stock traded up $0.40 during trading hours on Thursday, hitting $52.46. The company had a trading volume of 242,810 shares, compared to its average volume of 1,029,321. Olin Co. has a 12 month low of $41.71 and a 12 month high of $60.60. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.80 and a current ratio of 1.38. The firm’s fifty day moving average is $55.67 and its 200 day moving average is $51.73. The firm has a market capitalization of $6.26 billion, a price-to-earnings ratio of 18.73, a PEG ratio of 0.31 and a beta of 1.48.

Olin (NYSE:OLN) last announced its quarterly earnings results on Friday, April 26th. The specialty chemicals company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.02. The firm had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.65 billion. Olin had a return on equity of 14.47% and a net margin of 5.32%. The business’s revenue was down 11.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.16 earnings per share. On average, sell-side analysts predict that Olin Co. will post 3.59 EPS for the current fiscal year.

Olin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Thursday, May 9th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.52%. The ex-dividend date of this dividend is Wednesday, May 8th. Olin’s dividend payout ratio is currently 28.78%.

Insiders Place Their Bets

In other news, VP Brett A. Flaugher sold 15,000 shares of Olin stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $52.46, for a total value of $786,900.00. Following the completion of the transaction, the vice president now owns 8,782 shares in the company, valued at $460,703.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Olin news, CEO Scott Mcdougald Sutton sold 48,896 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $52.39, for a total transaction of $2,561,661.44. Following the sale, the chief executive officer now owns 90,327 shares of the company’s stock, valued at approximately $4,732,231.53. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Brett A. Flaugher sold 15,000 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $52.46, for a total transaction of $786,900.00. Following the completion of the transaction, the vice president now directly owns 8,782 shares of the company’s stock, valued at $460,703.72. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 78,896 shares of company stock valued at $4,136,061. 1.60% of the stock is currently owned by insiders.

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.