SG Americas Securities LLC Sells 31,601 Shares of Olin Co. (NYSE:OLN)

SG Americas Securities LLC reduced its holdings in shares of Olin Co. (NYSE:OLN - Free Report) by 63.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,449 shares of the specialty chemicals company's stock after selling 31,601 shares during the period. SG Americas Securities LLC's holdings in Olin were worth $885,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. LRI Investments LLC purchased a new stake in shares of Olin during the first quarter valued at approximately $28,000. EverSource Wealth Advisors LLC boosted its stake in shares of Olin by 4,375.0% during the first quarter. EverSource Wealth Advisors LLC now owns 537 shares of the specialty chemicals company's stock valued at $32,000 after purchasing an additional 525 shares during the period. nVerses Capital LLC purchased a new stake in Olin in the second quarter worth $33,000. Quarry LP purchased a new stake in Olin in the fourth quarter worth $50,000. Finally, Denver PWM LLC purchased a new stake in Olin in the second quarter worth $59,000. 88.67% of the stock is currently owned by institutional investors.

Olin Stock Performance

Shares of Olin stock traded up $0.29 during trading hours on Friday, reaching $47.41. 891,252 shares of the stock traded hands, compared to its average volume of 1,142,566. Olin Co. has a one year low of $39.47 and a one year high of $60.60. 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 firm has a market capitalization of $5.57 billion, a price-to-earnings ratio of 20.89, a P/E/G ratio of 1.02 and a beta of 1.41. The company has a 50 day moving average price of $43.87 and a 200 day moving average price of $49.10.

Olin (NYSE:OLN - Get Free Report) last posted its quarterly earnings data on Thursday, July 25th. The specialty chemicals company reported $0.62 earnings per share for the quarter, missing analysts' consensus estimates of $0.70 by ($0.08). Olin had a net margin of 4.26% and a return on equity of 11.73%. The company had revenue of $1.64 billion for the quarter, compared to analysts' expectations of $1.71 billion. During the same period in the previous year, the firm earned $1.13 earnings per share. The firm's quarterly revenue was down 3.5% on a year-over-year basis. On average, equities research analysts expect that Olin Co. will post 1.61 earnings per share for the current fiscal year.

Olin Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Thursday, August 8th were issued a $0.20 dividend. The ex-dividend date was Thursday, August 8th. This represents a $0.80 dividend on an annualized basis and a yield of 1.69%. Olin's dividend payout ratio is presently 35.24%.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Barclays dropped their price target on Olin from $59.00 to $49.00 and set an "equal weight" rating for the company in a research note on Monday, July 29th. The Goldman Sachs Group dropped their price target on Olin from $55.00 to $49.00 and set a "neutral" rating for the company in a research note on Monday, July 29th. Mizuho assumed coverage on Olin in a research note on Thursday, August 8th. They issued a "neutral" rating and a $45.00 price target for the company. Deutsche Bank Aktiengesellschaft dropped their price target on Olin from $57.00 to $48.00 and set a "hold" rating for the company in a research note on Monday, July 29th. Finally, KeyCorp lowered their price objective on Olin from $62.00 to $57.00 and set an "overweight" rating for the company in a research report on Monday, October 7th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Olin presently has a consensus rating of "Hold" and a consensus price target of $52.40.

Olin 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.