SignalPoint Asset Management LLC Reduces Position in Olin Co. (OLN)

SignalPoint Asset Management LLC lowered its position in shares of Olin Co. (NYSE:OLN) by 2.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,632 shares of the specialty chemicals company’s stock after selling 569 shares during the period. SignalPoint Asset Management LLC’s holdings in Olin were worth $454,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Moors & Cabot Inc. raised its position in Olin by 77.0% during the 1st quarter. Moors & Cabot Inc. now owns 30,410 shares of the specialty chemicals company’s stock worth $710,000 after purchasing an additional 13,230 shares during the last quarter. Patriot Investment Management Inc. bought a new position in shares of Olin in the 1st quarter worth about $454,000. Menta Capital LLC acquired a new stake in shares of Olin in the 1st quarter valued at about $935,000. Janney Montgomery Scott LLC grew its stake in shares of Olin by 88.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 29,761 shares of the specialty chemicals company’s stock valued at $689,000 after buying an additional 13,999 shares during the period. Finally, SG Americas Securities LLC grew its stake in shares of Olin by 1.8% in the 1st quarter. SG Americas Securities LLC now owns 26,162 shares of the specialty chemicals company’s stock valued at $605,000 after buying an additional 472 shares during the period. Institutional investors own 91.88% of the company’s stock.

In related news, EVP John L. Mcintosh sold 19,335 shares of the company’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $22.54, for a total value of $435,810.90. Following the completion of the transaction, the executive vice president now directly owns 81,477 shares in the company, valued at $1,836,491.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Scott Mcdougald Sutton bought 7,000 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was bought at an average price of $21.02 per share, with a total value of $147,140.00. Following the completion of the transaction, the director now directly owns 22,000 shares of the company’s stock, valued at approximately $462,440. The disclosure for this purchase can be found here. Insiders own 1.90% of the company’s stock.

Several analysts have recently commented on OLN shares. Alembic Global Advisors started coverage on Olin in a research note on Monday, April 22nd. They issued a “buy” rating and a $32.00 target price for the company. ValuEngine downgraded Olin from a “sell” rating to a “strong sell” rating in a research note on Tuesday, April 30th. Nomura downgraded Olin from a “neutral” rating to a “reduce” rating and cut their price target for the company from $23.00 to $22.00 in a research note on Wednesday, January 30th. Finally, Cowen reiterated an “outperform” rating and set a $27.00 price target (down previously from $31.00) on shares of Olin in a research note on Monday, May 6th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $29.33.

Shares of NYSE:OLN traded down $0.28 during mid-day trading on Wednesday, reaching $20.70. The company had a trading volume of 2,618,500 shares, compared to its average volume of 2,395,322. The company has a current ratio of 1.48, a quick ratio of 0.85 and a debt-to-equity ratio of 1.08. The stock has a market capitalization of $3.36 billion, a PE ratio of 11.83, a price-to-earnings-growth ratio of 0.71 and a beta of 1.53. Olin Co. has a one year low of $17.87 and a one year high of $33.63.

Olin (NYSE:OLN) last posted its quarterly earnings results on Tuesday, April 30th. The specialty chemicals company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.04). Olin had a return on equity of 11.12% and a net margin of 5.14%. The company had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.69 billion. During the same period last year, the firm posted $0.12 EPS. The company’s revenue for the quarter was down 9.2% compared to the same quarter last year. Research analysts predict that Olin Co. will post 1.61 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 10th will be issued a dividend of $0.20 per share. The ex-dividend date is Thursday, May 9th. This represents a $0.80 dividend on an annualized basis and a yield of 3.86%. Olin’s payout ratio is 45.71%.

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Olin Company 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, potassium hydroxide, chlorinated organics intermediates and solvents, and sodium hypochlorite.The Epoxy segment provides allyl chloride and epichlorohydrin, as well as acetone, bisphenol, cumene, and phenol for use in resins and other plastic materials, water purification, and pesticides, as well as for the manufacturers of polymers; liquid and solid epoxy resins that are used in adhesives, paints and coatings, composites, and flooring; and differentiated epoxy resins for use in electrical laminates, paints and coatings, wind blades, electronics, and construction, as well as offers additives.

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Institutional Ownership by Quarter for Olin (NYSE:OLN)

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