Ergawealth Advisors Inc. Invests $216,000 in Olin Co. (NYSE:OLN)

Ergawealth Advisors Inc. bought a new position in shares of Olin Co. (NYSE:OLN) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 4,000 shares of the specialty chemicals company’s stock, valued at approximately $216,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of OLN. Baystate Wealth Management LLC raised its position in shares of 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 in the last quarter. Salem Investment Counselors Inc. bought a new position in shares of Olin in the first quarter worth $26,000. Sandy Spring Bank grew its stake in shares of Olin by 145.6% in the fourth quarter. Sandy Spring Bank now owns 614 shares of the specialty chemicals company’s stock worth $33,000 after purchasing an additional 364 shares in the last quarter. Covestor Ltd boosted its stake in Olin by 76.7% during the third quarter. Covestor Ltd now owns 659 shares of the specialty chemicals company’s stock valued at $33,000 after buying an additional 286 shares in the last quarter. Finally, Quarry LP lifted its holdings in shares of Olin by 508.6% during the first quarter. Quarry LP now owns 706 shares of the specialty chemicals company’s stock valued at $39,000 after purchasing an additional 590 shares during the last quarter. 88.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have commented on OLN shares. Wells Fargo & Company raised their price objective on Olin from $56.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 3rd. Barclays raised their target price on Olin from $57.00 to $59.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 4th. Citigroup raised their target price on Olin from $63.00 to $67.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. KeyCorp raised their target price on Olin from $66.00 to $78.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 9th. Finally, UBS Group raised their target price on Olin from $56.00 to $58.00 and gave the stock a “neutral” rating in a research report on Friday, January 26th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock 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 dated 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 sale, the chief financial officer now directly owns 137,517 shares in the company, valued at approximately $7,446,545.55. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO Todd A. Slater sold 63,250 shares of the company’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 owns 137,517 shares of the company’s stock, valued at approximately $7,446,545.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Scott Mcdougald Sutton sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was 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 of the company’s stock, valued at approximately $3,954,667.50. The disclosure for this sale can be found here. Insiders have sold 753,274 shares of company stock worth $40,434,124 in the last 90 days. 1.80% of the stock is currently owned by insiders.

Olin Trading Down 0.6 %

OLN stock traded down $0.33 during trading on Tuesday, reaching $53.67. The company had a trading volume of 480,447 shares, compared to its average volume of 1,036,079. Olin Co. has a 52 week low of $41.71 and a 52 week high of $60.60. The company has a market cap of $6.42 billion, a P/E ratio of 15.15, a PEG ratio of 0.30 and a beta of 1.44. The business has a 50 day moving average of $55.28 and a 200 day moving average of $51.34. 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 (NYSE:OLN) last announced its earnings results on Thursday, January 25th. The specialty chemicals company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.10. The business 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, sell-side analysts forecast that Olin Co. will post 3.75 earnings per share for the current fiscal year.

Olin Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, March 7th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.49%. The ex-dividend date of this dividend was Wednesday, March 6th. Olin’s dividend payout ratio is presently 22.60%.

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.