Mitsubishi UFJ Trust & Banking Corp Has $506,000 Position in Olin Co. (NYSE:OLN)

Mitsubishi UFJ Trust & Banking Corp reduced its holdings in Olin Co. (NYSE:OLNGet Rating) by 32.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 10,941 shares of the specialty chemicals company’s stock after selling 5,159 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Olin were worth $506,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in shares of Olin by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 15,867,281 shares of the specialty chemicals company’s stock worth $829,542,000 after purchasing an additional 493,052 shares during the last quarter. BlackRock Inc. increased its stake in shares of Olin by 3.1% during the 1st quarter. BlackRock Inc. now owns 15,796,238 shares of the specialty chemicals company’s stock worth $825,827,000 after purchasing an additional 472,527 shares during the last quarter. State Street Corp increased its stake in shares of Olin by 0.6% during the 1st quarter. State Street Corp now owns 5,581,714 shares of the specialty chemicals company’s stock worth $291,812,000 after purchasing an additional 31,587 shares during the last quarter. Pzena Investment Management LLC increased its stake in shares of Olin by 5.9% during the 1st quarter. Pzena Investment Management LLC now owns 3,404,652 shares of the specialty chemicals company’s stock worth $177,995,000 after purchasing an additional 188,830 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in shares of Olin by 120.8% during the 1st quarter. First Trust Advisors LP now owns 1,390,662 shares of the specialty chemicals company’s stock worth $72,704,000 after purchasing an additional 760,691 shares during the last quarter. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. KeyCorp boosted their price objective on shares of Olin from $56.00 to $58.00 and gave the stock an “overweight” rating in a research note on Friday, October 28th. StockNews.com initiated coverage on shares of Olin in a report on Wednesday, October 12th. They set a “buy” rating for the company. Wells Fargo & Company set a $69.00 target price on shares of Olin in a report on Thursday, November 17th. Piper Sandler reduced their target price on shares of Olin from $68.00 to $64.00 and set an “overweight” rating for the company in a report on Monday, October 10th. Finally, Morgan Stanley reduced their target price on shares of Olin from $58.00 to $50.00 and set an “equal weight” rating for the company in a report on Wednesday, October 12th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Olin presently has an average rating of “Moderate Buy” and a consensus target price of $58.09.

Olin Stock Performance

NYSE OLN opened at $56.33 on Tuesday. The company has a quick ratio of 0.83, a current ratio of 1.41 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $7.72 billion, a P/E ratio of 6.05, a P/E/G ratio of 3.39 and a beta of 1.42. Olin Co. has a 12-month low of $41.33 and a 12-month high of $67.25. The firm has a 50-day moving average price of $50.15 and a two-hundred day moving average price of $53.18.

Olin Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 9th. Shareholders of record on Thursday, November 10th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date is Wednesday, November 9th. Olin’s dividend payout ratio is currently 8.59%.

Olin Company Profile

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Olin Corporation manufactures and distributes chemical products in the United States, Europe, 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, hydrochloric acid, hydrogen, bleach products, potassium hydroxide, chlorinated organics intermediates and solvents, and sodium hypochlorite.

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Institutional Ownership by Quarter for Olin (NYSE:OLN)

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