Geode Capital Management LLC Sells 85,250 Shares of Olin Co. (NYSE:OLN)

Geode Capital Management LLC lowered its holdings in shares of Olin Co. (NYSE:OLN - Free Report) by 4.2% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 1,938,520 shares of the specialty chemicals company's stock after selling 85,250 shares during the period. Geode Capital Management LLC owned 1.66% of Olin worth $65,542,000 as of its most recent filing with the SEC.

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

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Wells Fargo & Company decreased their target price on shares of Olin from $25.00 to $19.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 9th. UBS Group dropped their target price on shares of Olin from $34.00 to $21.00 and set a "neutral" rating for the company in a report on Monday, April 7th. Mizuho set a $23.00 price target on shares of Olin in a report on Tuesday. Morgan Stanley dropped their price objective on shares of Olin from $31.00 to $28.00 and set an "underweight" rating for the company in a research note on Tuesday, February 4th. Finally, Royal Bank of Canada cut shares of Olin from an "outperform" rating to a "sector perform" rating and decreased their target price for the stock from $45.00 to $30.00 in a research note on Tuesday, February 4th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $33.25.

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Insider Activity

In other news, CEO Kenneth Todd Lane bought 7,250 shares of the firm's stock in a transaction that occurred on Tuesday, February 4th. The stock was acquired at an average cost of $28.06 per share, with a total value of $203,435.00. Following the transaction, the chief executive officer now directly owns 7,250 shares of the company's stock, valued at approximately $203,435. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.60% of the stock is currently owned by company insiders.

Olin Trading Down 3.0 %

Shares of OLN traded down $0.62 during trading hours on Tuesday, hitting $20.26. 1,042,968 shares of the stock were exchanged, compared to its average volume of 1,525,150. The firm has a market capitalization of $2.33 billion, a P/E ratio of 22.51 and a beta of 1.50. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.27 and a quick ratio of 0.77. Olin Co. has a fifty-two week low of $17.66 and a fifty-two week high of $57.10. The business has a 50-day moving average of $24.63 and a 200-day moving average of $34.01.

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

Olin Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, March 6th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.95%. The ex-dividend date of this dividend was Thursday, March 6th. Olin's dividend payout ratio (DPR) is 88.89%.

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.