GAMMA Investing LLC Buys Shares of 1,853 Olin Co. (NYSE:OLN)

GAMMA Investing LLC purchased a new stake in shares of Olin Co. (NYSE:OLN) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,853 shares of the specialty chemicals company’s stock, valued at approximately $96,000.

Several other institutional investors also recently modified their holdings of the business. Baystate Wealth Management LLC lifted its stake in Olin by 154.6% during the 3rd quarter. Baystate Wealth Management LLC now owns 494 shares of the specialty chemicals company’s stock valued at $25,000 after acquiring an additional 300 shares during the period. Sandy Spring Bank lifted its position in Olin by 145.6% during the fourth quarter. Sandy Spring Bank now owns 614 shares of the specialty chemicals company’s stock valued at $33,000 after purchasing an additional 364 shares during the period. Covestor Ltd boosted its holdings in Olin by 76.7% in the third quarter. Covestor Ltd now owns 659 shares of the specialty chemicals company’s stock worth $33,000 after purchasing an additional 286 shares during the last quarter. Motco bought a new stake in Olin in the 3rd quarter worth approximately $40,000. Finally, ORG Partners LLC purchased a new stake in Olin during the 3rd quarter valued at $44,000. 88.67% of the stock is owned by hedge funds and other institutional investors.

Olin Trading Up 1.2 %

Shares of OLN stock opened at $53.48 on Monday. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.80 and a current ratio of 1.38. The stock has a fifty day simple moving average of $55.63 and a two-hundred day simple moving average of $51.67. The firm has a market capitalization of $6.40 billion, a PE ratio of 19.24, a PEG ratio of 0.29 and a beta of 1.44. Olin Co. has a 52-week low of $41.71 and a 52-week high of $60.60.

Olin (NYSE:OLN) last released its quarterly earnings data on Friday, April 26th. The specialty chemicals company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.04. The firm had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.65 billion. Olin had a return on equity of 14.47% and a net margin of 5.32%. The business’s quarterly revenue was down 11.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.16 earnings per share. On average, analysts predict that Olin Co. will post 3.73 EPS for the current fiscal year.

Olin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Thursday, May 9th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date is Wednesday, May 8th. Olin’s dividend payout ratio (DPR) is currently 28.78%.

Analysts Set New Price Targets

Several analysts recently commented on OLN shares. Stifel Nicolaus lifted their price objective on Olin from $65.00 to $66.00 and gave the stock a “buy” rating in a report on Monday, January 29th. KeyCorp boosted their price target on Olin from $66.00 to $78.00 and gave the company an “overweight” rating in a research note on Tuesday, April 9th. The Goldman Sachs Group increased their price objective on shares of Olin from $55.00 to $61.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 30th. Citigroup boosted their target price on shares of Olin from $63.00 to $67.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Finally, UBS Group increased their price target on shares of Olin from $56.00 to $58.00 and gave the stock a “neutral” rating in a research report on Friday, January 26th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $59.33.

Insider Activity

In related news, CEO Scott Mcdougald Sutton sold 539,328 shares of the company’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $53.96, for a total transaction of $29,102,138.88. Following the completion of the transaction, the chief executive officer now owns 47,620 shares in the company, valued at $2,569,575.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, VP Brett A. Flaugher sold 15,000 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was 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 directly owns 8,782 shares of the company’s stock, valued at $460,703.72. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Scott Mcdougald Sutton sold 539,328 shares of Olin stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $53.96, for a total value of $29,102,138.88. Following the completion of the sale, the chief executive officer now directly owns 47,620 shares in the company, valued at approximately $2,569,575.20. The disclosure for this sale can be found here. Insiders have sold a total of 753,274 shares of company stock worth $40,434,124 over the last quarter. Insiders own 1.80% of the company’s stock.

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.