Olin Co. (NYSE:OLN) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC cut its stake in shares of Olin Co. (NYSE:OLN) by 0.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,082,480 shares of the specialty chemicals company’s stock after selling 1,101 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.90% of Olin worth $63,650,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Ritholtz Wealth Management lifted its holdings in shares of Olin by 1.5% during the fourth 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 during the period. Financial Advocates Investment Management lifted its holdings in shares of Olin by 5.5% during the fourth quarter. Financial Advocates Investment Management now owns 5,086 shares of the specialty chemicals company’s stock worth $274,000 after purchasing an additional 266 shares during the period. Treasurer of the State of North Carolina lifted its holdings in shares of Olin by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 58,430 shares of the specialty chemicals company’s stock worth $2,920,000 after purchasing an additional 297 shares during the period. Sandy Spring Bank lifted its holdings in shares of Olin by 145.6% during the fourth quarter. Sandy Spring Bank now owns 614 shares of the specialty chemicals company’s stock worth $33,000 after purchasing an additional 364 shares during the period. Finally, Invst LLC lifted its holdings in shares of Olin by 3.7% during the third quarter. Invst LLC now owns 13,355 shares of the specialty chemicals company’s stock worth $667,000 after purchasing an additional 476 shares during the period. 88.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

OLN has been the subject of several recent research reports. Wells Fargo & Company increased their price target on Olin from $56.00 to $60.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 3rd. KeyCorp cut their price objective on Olin from $78.00 to $73.00 and set an “overweight” rating for the company in a research report on Monday, April 29th. Bank of America cut their price objective on Olin from $74.00 to $72.00 and set a “buy” rating for the company in a research report on Monday, April 29th. Citigroup increased their price objective on Olin from $63.00 to $67.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Finally, Stifel Nicolaus increased their price objective on Olin from $68.00 to $69.00 and gave the stock a “buy” rating in a research report on Monday, April 29th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $60.00.

Olin Stock Down 0.8 %

OLN stock opened at $46.14 on Wednesday. The company’s 50 day simple moving average is $52.24 and its 200-day simple moving average is $53.47. The firm has a market capitalization of $5.51 billion, a PE ratio of 16.60, a P/E/G ratio of 0.27 and a beta of 1.44. 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 current ratio of 1.38 and a quick ratio of 0.80.

Olin (NYSE:OLN) last announced its earnings results on Friday, April 26th. The specialty chemicals company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.02. Olin had a net margin of 5.32% and a return on equity of 14.47%. The firm had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same quarter last year, the business earned $1.16 earnings per share. Olin’s revenue was down 11.3% compared to the same quarter last year. Equities analysts expect that Olin Co. will post 3.66 earnings per share for the current fiscal year.

Olin Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Thursday, May 9th were given a dividend of $0.20 per share. The ex-dividend date was Wednesday, May 8th. This represents a $0.80 dividend on an annualized basis and a yield of 1.73%. Olin’s dividend payout ratio (DPR) is currently 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.