Stifel Financial Corp Sells 10,457 Shares of Olin Co. (OLN)
Stifel Financial Corp lowered its stake in shares of Olin Co. (NYSE:OLN) by 8.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 116,442 shares of the specialty chemicals company’s stock after selling 10,457 shares during the period. Stifel Financial Corp owned 0.07% of Olin worth $3,830,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. First Allied Advisory Services Inc. raised its position in Olin by 10.8% in the fourth quarter. First Allied Advisory Services Inc. now owns 20,908 shares of the specialty chemicals company’s stock valued at $535,000 after buying an additional 2,037 shares during the last quarter. Stelliam Investment Management LP raised its position in Olin by 5.8% in the fourth quarter. Stelliam Investment Management LP now owns 2,112,500 shares of the specialty chemicals company’s stock valued at $54,101,000 after buying an additional 115,000 shares during the last quarter. Brown Advisory Inc. acquired a new position in Olin during the fourth quarter valued at about $448,000. FMR LLC raised its position in Olin by 36.8% in the fourth quarter. FMR LLC now owns 6,757,322 shares of the specialty chemicals company’s stock valued at $173,055,000 after buying an additional 1,817,365 shares during the last quarter. Finally, Prudential PLC raised its position in Olin by 5.7% in the fourth quarter. Prudential PLC now owns 1,288,400 shares of the specialty chemicals company’s stock valued at $32,996,000 after buying an additional 69,700 shares during the last quarter.
Shares of Olin Co. (NYSE OLN) traded down 1.58% during midday trading on Friday, hitting $29.32. 2,550,616 shares of the company traded hands. The stock has a market capitalization of $4.86 billion, a P/E ratio of 102.16 and a beta of 1.32. Olin Co. has a 52 week low of $18.24 and a 52 week high of $33.88. The company has a 50-day moving average price of $31.05 and a 200-day moving average price of $29.35.
Olin (NYSE:OLN) last posted its earnings results on Tuesday, May 2nd. The specialty chemicals company reported $0.14 EPS for the quarter, missing the Zacks’ consensus estimate of $0.24 by $0.10. Olin had a negative net margin of 0.07% and a positive return on equity of 7.56%. The firm had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.44 billion. Analysts anticipate that Olin Co. will post $1.31 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 9th. Investors of record on Wednesday, May 10th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, May 8th. This represents a $0.80 dividend on an annualized basis and a yield of 2.73%. Olin’s payout ratio is -2,665.78%.
Several brokerages recently weighed in on OLN. Zacks Investment Research downgraded shares of Olin from a “buy” rating to a “sell” rating in a research report on Tuesday, March 14th. Royal Bank of Canada reissued a “buy” rating and set a $35.00 price target on shares of Olin in a research report on Tuesday, May 16th. Tudor Pickering began coverage on shares of Olin in a research report on Friday, May 12th. They set a “buy” rating and a $37.00 price target for the company. Bank of America Corp began coverage on shares of Olin in a research report on Monday, May 8th. They set a “buy” rating and a $40.00 price target for the company. Finally, Cowen and Company raised their price target on shares of Olin from $32.00 to $37.00 and gave the company an “outperform” rating in a research report on Friday, February 10th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $32.86.
Olin Corporation is a manufacturer and distributor of chemical products, and ammunition. The Company operates through three segments: Chlor Alkali Products and Vinyls, Epoxy and Winchester. The Chlor Alkali Products and Vinyls segment manufactures and sells chlorine and caustic soda, ethylene dichloride and vinyl chloride monomer, methyl chloride, methylene chloride, chloroform, carbon tetrachloride, perchloroethylene, trichloroethylene and vinylidene chloride, hydrochloric acid, hydrogen, bleach products and potassium hydroxide.
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