Olin Co. (NYSE:OLN) Shares Sold by Citizens National Bank Trust Department

Citizens National Bank Trust Department cut its stake in Olin Co. (NYSE:OLN) by 26.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,802 shares of the specialty chemicals company’s stock after selling 5,290 shares during the period. Citizens National Bank Trust Department’s holdings in Olin were worth $799,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in OLN. Norges Bank acquired a new stake in shares of Olin during the fourth quarter worth $67,494,000. First Trust Advisors LP increased its holdings in shares of Olin by 120.8% in the 1st quarter. First Trust Advisors LP now owns 1,390,662 shares of the specialty chemicals company’s stock worth $72,704,000 after acquiring an additional 760,691 shares during the period. Renaissance Technologies LLC increased its holdings in shares of Olin by 105.4% in the 1st quarter. Renaissance Technologies LLC now owns 1,015,700 shares of the specialty chemicals company’s stock worth $53,101,000 after acquiring an additional 521,300 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in shares of Olin by 123.8% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 923,879 shares of the specialty chemicals company’s stock worth $51,275,000 after acquiring an additional 511,098 shares during the period. Finally, Vanguard Group Inc. increased its holdings in shares of Olin by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 15,867,281 shares of the specialty chemicals company’s stock worth $829,542,000 after acquiring an additional 493,052 shares during the period. 88.67% of the stock is owned by institutional investors and hedge funds.

Olin Stock Down 3.1 %

OLN traded down $1.72 during midday trading on Friday, hitting $54.43. 838,261 shares of the company’s stock traded hands, compared to its average volume of 1,043,097. The company has a market cap of $6.51 billion, a PE ratio of 15.39, a price-to-earnings-growth ratio of 0.31 and a beta of 1.44. The stock’s fifty day simple moving average is $55.14 and its 200-day simple moving average is $51.19. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.29 and a quick ratio of 0.73. Olin Co. has a one year low of $41.71 and a one year high of $60.60.

Olin (NYSE:OLN) last announced its quarterly earnings results on Thursday, January 25th. The specialty chemicals company reported $0.30 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.50 billion. As a group, equities analysts anticipate that Olin Co. will post 3.75 earnings per share for the current fiscal year.

Olin Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders 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 dividend yield of 1.47%. Olin’s payout ratio is 22.60%.

Insider Transactions at Olin

In other news, CEO Scott Mcdougald Sutton sold 15,000 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $52.50, for a total value of $787,500.00. Following the sale, the chief executive officer now owns 75,327 shares in the company, valued at $3,954,667.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Olin news, CEO Scott Mcdougald Sutton sold 15,000 shares of Olin stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $52.50, for a total transaction of $787,500.00. Following the sale, the chief executive officer now owns 75,327 shares in the company, valued at $3,954,667.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Todd A. Slater sold 63,250 shares of Olin stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $54.15, for a total value of $3,424,987.50. Following the transaction, the chief financial officer now directly owns 137,517 shares of the company’s stock, valued at $7,446,545.55. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 753,274 shares of company stock worth $40,434,124. Insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Citigroup increased their price objective on shares of Olin from $63.00 to $67.00 and gave the stock a “buy” rating in a report on Wednesday. Royal Bank of Canada increased their target price on shares of Olin from $58.00 to $64.00 and gave the company an “outperform” rating in a research report on Monday, January 29th. The Goldman Sachs Group raised their price objective on shares of Olin from $55.00 to $61.00 and gave the company a “neutral” rating in a research report on Tuesday, January 30th. KeyCorp raised their price objective on shares of Olin from $66.00 to $78.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, UBS Group raised their price objective on shares of Olin from $56.00 to $58.00 and gave the company a “neutral” rating in a research report on Friday, January 26th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Olin has a consensus rating of “Hold” and an average target price of $59.00.

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.