Shelton Capital Management Sells 425 Shares of Olin Co. (NYSE:OLN)

Shelton Capital Management lessened its position in Olin Co. (NYSE:OLN) by 6.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,755 shares of the specialty chemicals company’s stock after selling 425 shares during the quarter. Shelton Capital Management’s holdings in Olin were worth $296,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Salem Investment Counselors Inc. bought a new position in Olin during the first quarter worth $26,000. Ten Capital Wealth Advisors LLC bought a new position in shares of Olin during the 1st quarter worth about $28,000. Industrial Alliance Investment Management Inc. acquired a new position in shares of Olin during the first quarter valued at about $31,000. Quarry LP lifted its stake in shares of Olin by 508.6% in the first quarter. Quarry LP now owns 706 shares of the specialty chemicals company’s stock valued at $39,000 after buying an additional 590 shares during the period. Finally, Money Concepts Capital Corp grew its position in Olin by 74.5% during the fourth quarter. Money Concepts Capital Corp now owns 991 shares of the specialty chemicals company’s stock worth $52,000 after buying an additional 423 shares in the last quarter. Institutional investors and hedge funds own 85.69% of the company’s stock.

Olin Stock Up 0.1 %

Shares of Olin stock opened at $46.99 on Tuesday. The business has a fifty day simple moving average of $46.70 and a 200 day simple moving average of $51.22. The stock has a market cap of $5.76 billion, a PE ratio of 10.35, a price-to-earnings-growth ratio of 9.23 and a beta of 1.44. The company has a quick ratio of 0.80, a current ratio of 1.50 and a debt-to-equity ratio of 1.15. Olin Co. has a 12 month low of $41.71 and a 12 month high of $64.70.

Olin (NYSE:OLN) last posted its earnings results on Friday, October 27th. The specialty chemicals company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.15. Olin had a return on equity of 24.36% and a net margin of 8.39%. The company had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same period in the previous year, the company earned $2.18 EPS. The company’s revenue for the quarter was down 28.0% compared to the same quarter last year. Research analysts predict that Olin Co. will post 3.33 EPS for the current year.

Olin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Thursday, November 9th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, November 8th. This represents a $0.80 annualized dividend and a yield of 1.70%. Olin’s dividend payout ratio is presently 17.62%.

Analysts Set New Price Targets

Several research firms have commented on OLN. StockNews.com began coverage on Olin in a research report on Thursday, October 5th. They issued a “hold” rating for the company. Stifel Nicolaus lowered their price target on Olin from $66.00 to $65.00 and set a “buy” rating on the stock in a research report on Monday, October 30th. JPMorgan Chase & Co. lowered shares of Olin from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $75.00 to $48.00 in a report on Monday, October 30th. KeyCorp cut their price target on shares of Olin from $67.00 to $61.00 and set an “overweight” rating for the company in a report on Monday, October 30th. Finally, Credit Suisse Group lifted their target price on shares of Olin from $46.00 to $47.00 and gave the company an “underperform” rating in a research note on Friday, July 28th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $54.43.

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.