Signet Financial Management LLC Sells 1,278 Shares of Olin Co. (NYSE:OLN)

Signet Financial Management LLC reduced its position in Olin Co. (NYSE:OLN) by 3.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 32,713 shares of the specialty chemicals company’s stock after selling 1,278 shares during the quarter. Signet Financial Management LLC’s holdings in Olin were worth $1,765,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new position in shares of Olin during the 4th quarter valued at $67,494,000. First Trust Advisors LP lifted its position in shares of Olin by 120.8% during the 1st quarter. First Trust Advisors LP now owns 1,390,662 shares of the specialty chemicals company’s stock valued at $72,704,000 after acquiring an additional 760,691 shares during the period. Renaissance Technologies LLC raised its holdings in Olin by 105.4% during the first quarter. Renaissance Technologies LLC now owns 1,015,700 shares of the specialty chemicals company’s stock worth $53,101,000 after buying an additional 521,300 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Olin by 123.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 923,879 shares of the specialty chemicals company’s stock worth $51,275,000 after buying an additional 511,098 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in Olin by 3.2% during the first quarter. Vanguard Group Inc. now owns 15,867,281 shares of the specialty chemicals company’s stock worth $829,542,000 after buying an additional 493,052 shares during the last quarter. 88.67% of the stock is owned by institutional investors.

Olin Stock Performance

OLN traded down $0.54 during trading on Tuesday, hitting $53.46. 369,114 shares of the company traded hands, compared to its average volume of 1,034,972. The firm has a market cap of $6.40 billion, a P/E ratio of 15.25, a price-to-earnings-growth ratio of 0.30 and a beta of 1.44. The stock’s fifty day moving average is $55.28 and its 200 day moving average is $51.34. The company has a quick ratio of 0.73, a current ratio of 1.29 and a debt-to-equity ratio of 1.14. Olin Co. has a one year low of $41.71 and a one year high of $60.60.

Olin (NYSE:OLN) last posted its earnings results on Thursday, January 25th. The specialty chemicals company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.10. The firm had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.50 billion. Olin had a net margin of 6.74% and a return on equity of 18.44%. As a group, equities analysts predict that Olin Co. will post 3.75 EPS for the current fiscal year.

Olin Announces Dividend

The firm also recently announced 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 1.50%. Olin’s payout ratio is 22.60%.

Analyst Upgrades and Downgrades

OLN has been the topic of several research reports. Wells Fargo & Company upped their price objective on shares of Olin from $56.00 to $60.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 3rd. The Goldman Sachs Group upped their price objective on shares of Olin from $55.00 to $61.00 and gave the stock a “neutral” rating in a report on Tuesday, January 30th. Barclays upped their price objective on shares of Olin from $57.00 to $59.00 and gave the stock an “equal weight” rating in a report on Thursday, April 4th. UBS Group increased their target price on shares of Olin from $56.00 to $58.00 and gave the company a “neutral” rating in a report on Friday, January 26th. Finally, KeyCorp increased their target price on shares of Olin from $66.00 to $78.00 and gave the company an “overweight” rating in a report on Tuesday, April 9th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $59.00.

Insider Transactions at Olin

In other news, CFO Todd A. Slater sold 63,250 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 137,517 shares in the company, valued at approximately $7,446,545.55. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Scott Mcdougald Sutton sold 15,000 shares of the company’s 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 completion of the sale, the chief executive officer now directly owns 75,327 shares in the company, valued at approximately $3,954,667.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Todd A. Slater sold 63,250 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $54.15, for a total transaction of $3,424,987.50. Following the transaction, the chief financial officer now directly owns 137,517 shares in the company, valued at $7,446,545.55. The disclosure for this sale can be found here. Insiders sold 753,274 shares of company stock worth $40,434,124 over the last quarter. Corporate 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.