O Brien Greene & Co. Inc Sells 43,600 Shares of Olin Corporation $OLN

O Brien Greene & Co. Inc decreased its stake in shares of Olin Corporation (NYSE:OLN) by 73.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,000 shares of the specialty chemicals company’s stock after selling 43,600 shares during the period. O Brien Greene & Co. Inc’s holdings in Olin were worth $333,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of OLN. ARGA Investment Management LP boosted its holdings in shares of Olin by 0.9% during the third quarter. ARGA Investment Management LP now owns 60,359 shares of the specialty chemicals company’s stock worth $1,508,000 after purchasing an additional 546 shares during the period. Madison Asset Management LLC boosted its holdings in shares of Olin by 0.6% during the fourth quarter. Madison Asset Management LLC now owns 97,616 shares of the specialty chemicals company’s stock worth $2,033,000 after purchasing an additional 555 shares during the period. Wilmington Savings Fund Society FSB boosted its holdings in shares of Olin by 9.9% during the third quarter. Wilmington Savings Fund Society FSB now owns 6,412 shares of the specialty chemicals company’s stock worth $160,000 after purchasing an additional 579 shares during the period. FORA Capital LLC boosted its holdings in shares of Olin by 2.6% during the second quarter. FORA Capital LLC now owns 24,453 shares of the specialty chemicals company’s stock worth $491,000 after purchasing an additional 625 shares during the period. Finally, NewEdge Advisors LLC boosted its holdings in shares of Olin by 45.0% during the third quarter. NewEdge Advisors LLC now owns 2,323 shares of the specialty chemicals company’s stock worth $58,000 after purchasing an additional 721 shares during the period. Hedge funds and other institutional investors own 88.67% of the company’s stock.

Insider Activity at Olin

In other news, VP Angela M. Castle sold 2,379 shares of the company’s stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $24.25, for a total value of $57,690.75. Following the completion of the sale, the vice president directly owned 1,528 shares of the company’s stock, valued at $37,054. This represents a 60.89% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.60% of the stock is currently owned by company insiders.

Olin Stock Performance

Shares of NYSE:OLN opened at $26.78 on Friday. The stock has a market capitalization of $3.05 billion, a P/E ratio of -23.91 and a beta of 1.21. Olin Corporation has a 1-year low of $18.08 and a 1-year high of $30.46. The company has a current ratio of 1.36, a quick ratio of 0.82 and a debt-to-equity ratio of 1.73. The business has a 50-day moving average price of $27.15 and a two-hundred day moving average price of $23.85.

Olin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Thursday, May 14th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Thursday, May 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.0%. Olin’s dividend payout ratio is -71.43%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Citigroup lifted their target price on shares of Olin from $26.00 to $30.00 and gave the company a “neutral” rating in a research note on Thursday, April 16th. Wells Fargo & Company reiterated an “overweight” rating and issued a $37.00 target price on shares of Olin in a research note on Sunday, May 10th. Wall Street Zen upgraded shares of Olin from a “sell” rating to a “hold” rating in a research note on Saturday, April 11th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $26.00 target price on shares of Olin in a research note on Tuesday, February 10th. Finally, Royal Bank Of Canada set a $30.00 price target on shares of Olin and gave the company a “sector perform” rating in a research report on Friday, April 10th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Olin currently has a consensus rating of “Hold” and an average target price of $27.79.

About Olin

Olin Corporation is a diversified manufacturer specializing in chemical products and ammunition. The company’s core business activities encompass the production and distribution of chlor-alkali products, epoxy resins and derivatives, and small-caliber ammunition under the Winchester brand. Olin’s chemical operations supply chlorine, caustic soda and related co-products to a wide range of end markets, including water treatment, pulp and paper, pharmaceuticals and general industrial applications.

In its Chlor Alkali Products & Vinyls segment, Olin operates multiple manufacturing facilities that produce chlorine and sodium hydroxide, along with vinyl chloride monomer and polyvinyl chloride (PVC) compounds.