Signet Financial Management LLC Reduces Stake in Olin Co. (NYSE:OLN)

Signet Financial Management LLC lowered its holdings in Olin Co. (NYSE:OLN) by 3.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 32,713 shares of the specialty chemicals company’s stock after selling 1,278 shares during the quarter. Signet Financial Management LLC’s holdings in Olin were worth $1,765,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in OLN. Quantbot Technologies LP grew its stake in Olin by 153.2% during the 3rd quarter. Quantbot Technologies LP now owns 24,674 shares of the specialty chemicals company’s stock worth $1,233,000 after buying an additional 14,928 shares during the last quarter. Coombe Bender & Co LLC grew its stake in Olin by 20.8% during the 3rd quarter. Coombe Bender & Co LLC now owns 90,977 shares of the specialty chemicals company’s stock worth $4,547,000 after buying an additional 15,645 shares during the last quarter. AdvisorShares Investments LLC purchased a new position in Olin during the 3rd quarter worth approximately $361,000. Invesco Ltd. grew its stake in Olin by 5.3% during the 3rd 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 during the last quarter. Finally, Nilsine Partners LLC grew its stake in Olin by 4.7% during the 4th quarter. Nilsine Partners LLC now owns 33,451 shares of the specialty chemicals company’s stock worth $1,805,000 after buying an additional 1,501 shares during the last quarter. Hedge funds and other institutional investors own 88.67% of the company’s stock.

Olin Price Performance

Shares of NYSE OLN traded down $0.54 during trading on Tuesday, reaching $53.46. The company had a trading volume of 369,114 shares, compared to its average volume of 1,034,972. Olin Co. has a twelve month low of $41.71 and a twelve month high of $60.60. The stock has a market capitalization of $6.40 billion, a PE ratio of 15.25, a price-to-earnings-growth ratio of 0.30 and a beta of 1.44. The stock has a 50-day moving average price of $55.28 and a two-hundred day moving average price of $51.34. The company has a current ratio of 1.29, a quick ratio of 0.73 and a debt-to-equity ratio of 1.14.

Olin (NYSE:OLN) last released its quarterly earnings results on Thursday, January 25th. The specialty chemicals company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.10. Olin had a return on equity of 18.44% and a net margin of 6.74%. The company had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.50 billion. As a group, sell-side analysts predict that Olin Co. will post 3.75 earnings per share for the current year.

Olin Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, March 7th were paid a $0.20 dividend. The ex-dividend date of this dividend was Wednesday, March 6th. This represents a $0.80 annualized dividend and a yield of 1.50%. Olin’s payout ratio is currently 22.60%.

Insiders Place Their Bets

In other news, VP Brett A. Flaugher sold 15,000 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $52.46, for a total transaction of $786,900.00. Following the completion of the transaction, the vice president now owns 8,782 shares of the company’s stock, valued at approximately $460,703.72. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CEO Scott Mcdougald Sutton sold 48,896 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $52.39, for a total transaction of $2,561,661.44. Following the completion of the sale, the chief executive officer now owns 90,327 shares in the company, valued at approximately $4,732,231.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Brett A. Flaugher sold 15,000 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $52.46, for a total value of $786,900.00. Following the sale, the vice president now owns 8,782 shares of the company’s stock, valued at approximately $460,703.72. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 753,274 shares of company stock valued at $40,434,124. Insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

OLN has been the topic of several analyst reports. The Goldman Sachs Group lifted their target price on Olin from $55.00 to $61.00 and gave the company a “neutral” rating in a research note on Tuesday, January 30th. Barclays lifted their target price on Olin from $57.00 to $59.00 and gave the company an “equal weight” rating in a research note on Thursday, April 4th. UBS Group lifted their target price on Olin from $56.00 to $58.00 and gave the company a “neutral” rating in a research note on Friday, January 26th. Stifel Nicolaus lifted their target price on Olin from $65.00 to $66.00 and gave the company a “buy” rating in a research note on Monday, January 29th. Finally, Royal Bank of Canada raised their price target on Olin from $58.00 to $64.00 and gave the company an “outperform” rating in a report on Monday, January 29th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $59.00.

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.