Coombe Bender & Co LLC Grows Stake in Olin Co. (NYSE:OLN)

Coombe Bender & Co LLC raised its stake in Olin Co. (NYSE:OLN) by 4.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. 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 about 3.2% of Coombe Bender & Co LLC’s portfolio, making the stock its 8th biggest holding. Coombe Bender & Co LLC’s holdings in Olin were worth $5,141,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in OLN. Pzena Investment Management LLC lifted its stake in Olin by 15.6% in the 3rd quarter. Pzena Investment Management LLC now owns 2,940,658 shares of the specialty chemicals company’s stock valued at $146,974,000 after purchasing an additional 397,050 shares during the last quarter. Thompson Siegel & Walmsley LLC lifted its holdings in Olin by 0.7% during the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 1,321,017 shares of the specialty chemicals company’s stock worth $66,024,000 after purchasing an additional 8,788 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Olin by 8.1% in 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 period. Allspring Global Investments Holdings LLC boosted its holdings in Olin by 21.2% in the 3rd 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 purchasing an additional 206,398 shares during the period. Finally, Invesco Ltd. grew its position in Olin by 5.3% during the third quarter. Invesco Ltd. now owns 1,132,733 shares of the specialty chemicals company’s stock worth $56,614,000 after buying an additional 57,364 shares in the last quarter. Institutional investors and hedge funds own 88.67% of the company’s stock.

Analysts Set New Price Targets

OLN has been the subject of a number of recent analyst reports. Stifel Nicolaus upped their price target on shares of Olin from $68.00 to $69.00 and gave the stock a “buy” rating in a report on Monday. Bank of America lowered their price target on shares of Olin from $74.00 to $72.00 and set a “buy” rating for the company in a report on Monday. UBS Group increased their price target on Olin from $56.00 to $58.00 and gave the company a “neutral” rating in a research note on Friday, January 26th. KeyCorp reduced their target price on shares of Olin from $78.00 to $73.00 and set an “overweight” rating on the stock in a report on Monday. Finally, Royal Bank of Canada reduced their price objective on shares of Olin from $69.00 to $63.00 and set an “outperform” rating on the stock in a research note on Monday. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Olin currently has an average rating of “Hold” and an average target price of $60.00.

Insider Buying and Selling at Olin

In other Olin news, CEO Scott Mcdougald Sutton sold 15,000 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $52.50, for a total value of $787,500.00. Following the completion of the sale, the chief executive officer now owns 75,327 shares in the company, valued at approximately $3,954,667.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. In the last three months, insiders have sold 78,896 shares of company stock worth $4,136,061. Corporate insiders own 1.60% of the company’s stock.

Olin Stock Up 0.8 %

OLN stock traded up $0.40 during midday trading on Thursday, reaching $52.46. 242,810 shares of the company’s stock traded hands, compared to its average volume of 1,029,321. Olin Co. has a 52 week low of $41.71 and a 52 week high of $60.60. The company has a market cap of $6.26 billion, a price-to-earnings ratio of 18.73, a P/E/G ratio of 0.31 and a beta of 1.48. The firm’s fifty day moving average price is $55.67 and its 200-day moving average price is $51.73. The company has a quick ratio of 0.80, a current ratio of 1.38 and a debt-to-equity ratio of 1.22.

Olin (NYSE:OLN) last posted its earnings results on Friday, April 26th. The specialty chemicals company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.02. 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 5.32% and a return on equity of 14.47%. The firm’s revenue was down 11.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.16 EPS. As a group, sell-side analysts forecast that Olin Co. will post 3.59 earnings per share for the current fiscal year.

Olin Dividend Announcement

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

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.