Olin Co. (NYSE:OLN) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. cut its stake in Olin Co. (NYSE:OLN - Free Report) by 59.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 436,251 shares of the specialty chemicals company's stock after selling 636,836 shares during the quarter. Franklin Resources Inc. owned about 0.37% of Olin worth $14,745,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Spire Wealth Management grew its stake in shares of Olin by 246.8% during the fourth quarter. Spire Wealth Management now owns 1,616 shares of the specialty chemicals company's stock valued at $55,000 after buying an additional 1,150 shares during the last quarter. CoreFirst Bank & Trust purchased a new position in Olin during the 4th quarter valued at $66,000. Jones Financial Companies Lllp grew its position in Olin by 59.9% in the 4th quarter. Jones Financial Companies Lllp now owns 2,431 shares of the specialty chemicals company's stock valued at $82,000 after acquiring an additional 911 shares during the last quarter. Blue Trust Inc. increased its stake in Olin by 34.3% in the fourth quarter. Blue Trust Inc. now owns 2,887 shares of the specialty chemicals company's stock worth $98,000 after purchasing an additional 738 shares during the period. Finally, Crews Bank & Trust bought a new stake in shares of Olin during the fourth quarter worth $153,000. 88.67% of the stock is owned by hedge funds and other institutional investors.

Olin Stock Up 4.0 %

Shares of OLN stock traded up $0.80 during trading hours on Friday, reaching $20.44. 2,495,243 shares of the company's stock were exchanged, compared to its average volume of 1,522,099. Olin Co. has a 1 year low of $17.66 and a 1 year high of $57.10. The company has a current ratio of 1.27, a quick ratio of 0.77 and a debt-to-equity ratio of 1.32. The stock has a market cap of $2.35 billion, a PE ratio of 22.71 and a beta of 1.50. The stock's fifty day moving average price is $24.75 and its two-hundred day moving average price is $34.31.

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Olin (NYSE:OLN - Get Free Report) last released its earnings results on Thursday, January 30th. The specialty chemicals company reported $0.09 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.10. Olin had a net margin of 1.66% and a return on equity of 5.10%. Research analysts predict that Olin Co. will post 1.38 EPS for the current year.

Olin Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, March 6th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.91%. The ex-dividend date of this dividend was Thursday, March 6th. Olin's payout ratio is 88.89%.

Insider Buying and Selling

In other news, CEO Kenneth Todd Lane bought 7,250 shares of the company's stock in a transaction that occurred on Tuesday, February 4th. The shares were purchased at an average price of $28.06 per share, for a total transaction of $203,435.00. Following the completion of the transaction, the chief executive officer now directly owns 7,250 shares in the company, valued at approximately $203,435. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.70% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms recently commented on OLN. JPMorgan Chase & Co. downgraded shares of Olin from an "overweight" rating to a "neutral" rating and reduced their price target for the stock from $50.00 to $28.00 in a research note on Thursday, February 27th. UBS Group decreased their price target on shares of Olin from $34.00 to $21.00 and set a "neutral" rating for the company in a research note on Monday, April 7th. Truist Financial lowered their price target on Olin from $38.00 to $32.00 and set a "hold" rating for the company in a report on Monday, February 3rd. Royal Bank of Canada downgraded Olin from an "outperform" rating to a "sector perform" rating and reduced their price objective for the stock from $45.00 to $30.00 in a report on Tuesday, February 4th. Finally, Barclays dropped their target price on Olin from $34.00 to $28.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 1st. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Olin has an average rating of "Hold" and a consensus target price of $35.44.

About Olin

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.