Atria Wealth Solutions Inc. Cuts Stock Holdings in Olin Co. (NYSE:OLN)

Atria Wealth Solutions Inc. reduced its stake in Olin Co. (NYSE:OLN) by 21.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,450 shares of the specialty chemicals company’s stock after selling 1,807 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Olin were worth $348,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Pzena Investment Management LLC grew its stake in Olin by 15.6% in the 3rd quarter. Pzena Investment Management LLC now owns 2,940,658 shares of the specialty chemicals company’s stock valued at $146,974,000 after purchasing an additional 397,050 shares during the period. Luminus Management LLC grew its position in Olin by 119.6% during the third quarter. Luminus Management LLC now owns 524,753 shares of the specialty chemicals company’s stock valued at $26,227,000 after buying an additional 285,789 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Olin by 21.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,179,543 shares of the specialty chemicals company’s stock worth $58,954,000 after buying an additional 206,398 shares during the last quarter. Hsbc Holdings PLC raised its position in Olin by 139.4% in the third quarter. Hsbc Holdings PLC now owns 259,923 shares of the specialty chemicals company’s stock worth $12,947,000 after acquiring an additional 151,342 shares during the period. Finally, Rovida Advisors Inc. purchased a new position in Olin in the third quarter valued at about $4,998,000. 88.67% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Olin news, CEO Scott Mcdougald Sutton sold 48,896 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $52.39, for a total transaction of $2,561,661.44. Following the sale, the chief executive officer now owns 90,327 shares in the company, valued at $4,732,231.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP Brett A. Flaugher sold 15,000 shares of Olin stock in a transaction on Monday, February 26th. The shares were sold at an average price of $52.46, for a total value of $786,900.00. Following the transaction, the vice president now owns 8,782 shares in the company, valued at approximately $460,703.72. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Scott Mcdougald Sutton sold 48,896 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $52.39, for a total transaction of $2,561,661.44. Following the sale, the chief executive officer now owns 90,327 shares of the company’s stock, valued at $4,732,231.53. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 78,896 shares of company stock worth $4,136,061. Corporate insiders own 1.80% of the company’s stock.

Olin Trading Up 2.4 %

Shares of OLN stock opened at $55.98 on Wednesday. Olin Co. has a 52-week low of $41.71 and a 52-week high of $60.60. The business’s fifty day moving average is $55.84 and its 200 day moving average is $51.95. 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 company has a market capitalization of $6.69 billion, a PE ratio of 20.14, a price-to-earnings-growth ratio of 0.31 and a beta of 1.48.

Olin (NYSE:OLN) last issued its quarterly earnings results on Friday, April 26th. The specialty chemicals company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.02. The firm had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.65 billion. Olin had a return on equity of 14.47% and a net margin of 5.32%. The company’s revenue for the quarter was down 11.3% on a year-over-year basis. During the same quarter last year, the company posted $1.16 EPS. On average, equities research analysts anticipate that Olin Co. will post 3.68 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. Stockholders 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 dividend yield of 1.43%. The ex-dividend date is Wednesday, May 8th. Olin’s dividend payout ratio is currently 28.78%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on OLN shares. UBS Group lifted their price target on shares of Olin from $56.00 to $58.00 and gave the stock a “neutral” rating in a report on Friday, January 26th. Piper Sandler increased their price target on Olin from $72.00 to $75.00 and gave the stock an “overweight” rating in a research note on Monday, April 29th. Bank of America lowered their price objective on Olin from $74.00 to $72.00 and set a “buy” rating on the stock in a research note on Monday, April 29th. Royal Bank of Canada cut their target price on shares of Olin from $69.00 to $63.00 and set an “outperform” rating for the company in a research report on Monday, April 29th. Finally, Stifel Nicolaus upped their price target on shares of Olin from $68.00 to $69.00 and gave the company a “buy” rating in a research note on Monday, April 29th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $60.00.

Olin Company 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.