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

B. Riley Wealth Advisors Inc. cut its holdings in Olin Co. (NYSE:OLN) by 52.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 20,485 shares of the specialty chemicals company’s stock after selling 22,395 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Olin were worth $966,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in OLN. LRI Investments LLC purchased a new position in shares of Olin in the 1st quarter valued at approximately $28,000. EverSource Wealth Advisors LLC increased its stake in Olin by 4,375.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 537 shares of the specialty chemicals company’s stock valued at $32,000 after buying an additional 525 shares during the period. nVerses Capital LLC purchased a new position in Olin during the 2nd quarter worth $33,000. Quarry LP acquired a new stake in shares of Olin in the 4th quarter worth $50,000. Finally, Denver PWM LLC purchased a new stake in shares of Olin in the second quarter valued at about $59,000. Institutional investors and hedge funds own 88.67% of the company’s stock.

Wall Street Analysts Forecast Growth

OLN has been the subject of a number of recent analyst reports. Piper Sandler reduced their price objective on shares of Olin from $75.00 to $57.00 and set an “overweight” rating for the company in a research report on Tuesday, July 30th. Royal Bank of Canada dropped their price objective on Olin from $61.00 to $52.00 and set an “outperform” rating on the stock in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft reduced their target price on Olin from $57.00 to $48.00 and set a “hold” rating for the company in a report on Monday, July 29th. The Goldman Sachs Group lowered their price target on shares of Olin from $55.00 to $49.00 and set a “neutral” rating on the stock in a research note on Monday, July 29th. Finally, Wells Fargo & Company reduced their price objective on shares of Olin from $50.00 to $48.00 and set an “equal weight” rating for the company in a research note on Monday, July 29th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $52.73.

Olin Stock Up 0.1 %

Shares of NYSE:OLN opened at $47.09 on Friday. The company has a quick ratio of 0.82, a current ratio of 1.43 and a debt-to-equity ratio of 1.29. The company has a market capitalization of $5.53 billion, a P/E ratio of 16.94, a P/E/G ratio of 1.06 and a beta of 1.41. Olin Co. has a 52-week low of $39.47 and a 52-week high of $60.60. The stock’s fifty day simple moving average is $43.55 and its 200-day simple moving average is $49.50.

Olin (NYSE:OLN) last released its quarterly earnings results on Thursday, July 25th. The specialty chemicals company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.08). The firm had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.71 billion. Olin had a return on equity of 11.73% and a net margin of 4.26%. Olin’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.13 earnings per share. As a group, equities research analysts forecast that Olin Co. will post 1.61 earnings per share for the current fiscal year.

Olin Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Thursday, August 8th were issued a dividend of $0.20 per share. The ex-dividend date was Thursday, August 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.70%. Olin’s payout ratio is 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.