Olin Co. (NYSE:OLN) Shares Sold by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. reduced its stake in Olin Co. (NYSE:OLN) by 24.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 32,545 shares of the specialty chemicals company’s stock after selling 10,335 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Olin were worth $1,756,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ritholtz Wealth Management grew its holdings in shares of Olin by 1.5% in the fourth quarter. Ritholtz Wealth Management now owns 16,389 shares of the specialty chemicals company’s stock valued at $884,000 after purchasing an additional 238 shares during the period. Financial Advocates Investment Management grew its stake in shares of Olin by 5.5% in the 4th quarter. Financial Advocates Investment Management now owns 5,086 shares of the specialty chemicals company’s stock valued at $274,000 after buying an additional 266 shares during the period. Covestor Ltd grew its stake in shares of Olin by 76.7% in the 3rd quarter. Covestor Ltd now owns 659 shares of the specialty chemicals company’s stock valued at $33,000 after buying an additional 286 shares during the period. Treasurer of the State of North Carolina increased its holdings in shares of Olin by 0.5% during the 3rd 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 buying an additional 297 shares during the last quarter. Finally, Sandy Spring Bank raised its position 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 valued at $33,000 after buying an additional 364 shares during the period. 88.67% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently weighed in on OLN. Piper Sandler increased their price objective on Olin from $72.00 to $75.00 and gave the stock an “overweight” rating 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. Barclays boosted their price objective on shares of Olin from $57.00 to $59.00 and gave the company an “equal weight” rating in a report on Thursday, April 4th. Stifel Nicolaus increased their target price on shares of Olin from $68.00 to $69.00 and gave the stock a “buy” rating in a research note on Monday, April 29th. Finally, Citigroup boosted their price target on shares of Olin from $63.00 to $67.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Two equities research 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’s stock. Based on data from MarketBeat, Olin presently has a consensus rating of “Hold” and an average price target of $60.00.

Olin Trading Down 0.4 %

NYSE:OLN opened at $49.49 on Wednesday. Olin Co. has a 12-month low of $41.71 and a 12-month high of $60.60. The firm has a market cap of $5.91 billion, a PE ratio of 17.80, a price-to-earnings-growth ratio of 0.29 and a beta of 1.47. The company has a current ratio of 1.38, a quick ratio of 0.80 and a debt-to-equity ratio of 1.22. The stock has a fifty day moving average price of $53.47 and a 200 day moving average price of $53.62.

Olin (NYSE:OLN) last announced its quarterly earnings data on Friday, April 26th. The specialty chemicals company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.02. Olin had a return on equity of 14.47% and a net margin of 5.32%. The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the previous year, the company posted $1.16 earnings per share. The business’s revenue for the quarter was down 11.3% on a year-over-year basis. Sell-side analysts anticipate that Olin Co. will post 3.66 earnings per share for the current fiscal year.

Olin Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Thursday, May 9th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date was Wednesday, May 8th. Olin’s dividend payout ratio is presently 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.