Olin Co. (OLN) Shares Sold by First Interstate Bank

First Interstate Bank lowered its position in Olin Co. (NYSE:OLN) by 58.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,100 shares of the specialty chemicals company’s stock after selling 3,000 shares during the quarter. First Interstate Bank’s holdings in Olin were worth $42,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in OLN. FMR LLC increased its holdings in shares of Olin by 68.3% in the second quarter. FMR LLC now owns 12,699,713 shares of the specialty chemicals company’s stock worth $364,736,000 after purchasing an additional 5,155,375 shares during the period. Raymond James & Associates increased its stake in Olin by 6.0% in the second quarter. Raymond James & Associates now owns 94,984 shares of the specialty chemicals company’s stock valued at $2,728,000 after acquiring an additional 5,399 shares during the last quarter. Northern Trust Corp increased its stake in Olin by 0.7% in the second quarter. Northern Trust Corp now owns 1,329,809 shares of the specialty chemicals company’s stock valued at $38,192,000 after acquiring an additional 9,308 shares during the last quarter. Fox Run Management L.L.C. bought a new position in Olin in the third quarter valued at $258,000. Finally, Manning & Napier Group LLC increased its stake in Olin by 13.5% in the third quarter. Manning & Napier Group LLC now owns 920,304 shares of the specialty chemicals company’s stock valued at $23,632,000 after acquiring an additional 109,292 shares during the last quarter. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

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NYSE OLN opened at $24.20 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.81 and a debt-to-equity ratio of 1.14. Olin Co. has a 12-month low of $17.87 and a 12-month high of $37.04. The stock has a market cap of $3.94 billion, a price-to-earnings ratio of 29.88, a price-to-earnings-growth ratio of 0.31 and a beta of 1.56.

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 11th. Shareholders of record on Monday, February 11th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, February 8th. This represents a $0.80 annualized dividend and a yield of 3.31%. Olin’s payout ratio is 98.77%.

In other Olin news, SVP John Maurice Sampson purchased 5,000 shares of the business’s stock in a transaction on Tuesday, November 20th. The stock was acquired at an average cost of $19.84 per share, for a total transaction of $99,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders have acquired 6,800 shares of company stock valued at $136,544. Company insiders own 1.70% of the company’s stock.

OLN has been the topic of a number of research analyst reports. ValuEngine raised Olin from a “strong sell” rating to a “sell” rating in a research note on Thursday, December 13th. Royal Bank of Canada reduced their target price on Olin to $22.00 and set a “sector perform” rating on the stock in a research note on Wednesday, October 31st. KeyCorp initiated coverage on Olin in a research note on Monday, January 28th. They issued an “overweight” rating and a $30.00 target price on the stock. Zacks Investment Research cut Olin from a “hold” rating to a “sell” rating in a research note on Tuesday, October 9th. Finally, Barclays initiated coverage on Olin in a research note on Monday, October 8th. They issued an “equal weight” rating and a $29.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the stock. Olin presently has a consensus rating of “Hold” and a consensus target price of $30.67.

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Olin Profile

Olin Corporation manufactures and distributes chemical products in the United States and internationally. 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, trichloroethylene and vinylidene chloride, hydrochloric acid, hydrogen, bleach products, and potassium hydroxide.

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