US Bancorp DE increased its position in Olin Co. (NYSE:OLN – Get Rating) by 4.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,521 shares of the specialty chemicals company’s stock after purchasing an additional 588 shares during the period. US Bancorp DE’s holdings in Olin were worth $538,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. HighTower Advisors LLC increased its holdings in Olin by 10.4% in the 1st quarter. HighTower Advisors LLC now owns 7,760 shares of the specialty chemicals company’s stock worth $407,000 after acquiring an additional 728 shares during the last quarter. Private Advisor Group LLC purchased a new position in Olin in the 1st quarter worth approximately $230,000. Acadian Asset Management LLC purchased a new position in shares of Olin during the first quarter valued at approximately $53,000. Great West Life Assurance Co. Can grew its stake in Olin by 8.7% in the first quarter. Great West Life Assurance Co. Can now owns 82,375 shares of the specialty chemicals company’s stock worth $4,437,000 after purchasing an additional 6,589 shares during the period. Finally, U.S. Capital Wealth Advisors LLC grew its stake in Olin by 5.8% in the first quarter. U.S. Capital Wealth Advisors LLC now owns 4,714 shares of the specialty chemicals company’s stock worth $246,000 after purchasing an additional 259 shares during the period. 85.77% of the stock is currently owned by institutional investors.
Olin Price Performance
OLN stock opened at $56.39 on Friday. The company has a current ratio of 1.41, a quick ratio of 0.83 and a debt-to-equity ratio of 1.01. The firm has a 50 day moving average of $55.16 and a 200-day moving average of $52.37. Olin Co. has a 12-month low of $41.33 and a 12-month high of $67.25. The company has a market cap of $7.72 billion, a price-to-earnings ratio of 6.06, a PEG ratio of 0.95 and a beta of 1.42.
Olin Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 9th. Shareholders of record on Thursday, November 10th were issued a $0.20 dividend. The ex-dividend date of this dividend was Wednesday, November 9th. This represents a $0.80 dividend on an annualized basis and a yield of 1.42%. Olin’s dividend payout ratio is currently 8.59%.
Analyst Ratings Changes
A number of research analysts have recently issued reports on OLN shares. Royal Bank of Canada upped their price target on Olin from $58.00 to $60.00 and gave the company an “outperform” rating in a report on Friday, October 28th. Barclays upgraded Olin from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $60.00 to $65.00 in a research report on Thursday, January 5th. Wells Fargo & Company dropped their price target on Olin from $69.00 to $66.00 and set an “overweight” rating for the company in a research note on Thursday, December 15th. KeyCorp raised their price objective on Olin from $56.00 to $58.00 and gave the company an “overweight” rating in a research note on Friday, October 28th. Finally, Morgan Stanley lowered Olin from an “equal weight” rating to an “underweight” rating and set a $50.00 price target for the company. in a research note on Tuesday, January 10th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $58.73.
Insider Transactions at Olin
In other Olin news, COO James A. Varilek sold 50,000 shares of the company’s stock in a transaction dated Friday, November 18th. The shares were sold at an average price of $56.56, for a total value of $2,828,000.00. Following the completion of the transaction, the chief operating officer now owns 17,761 shares in the company, valued at approximately $1,004,562.16. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 9.00% of the company’s stock.
Olin Corp. engages in manufacturing of chemicals products. It operates through the following segments: Chlor Alkali Products and Vinyls, Epoxy, and Winchester. The Chlor Alkali Products and Vinyls segment manufactures and sells chlorine and caustic soda, ethylene dichloride and vinyl chloride monomer, methyl chloride, methylene chloride, chloroform, carbon tetrachloride, perchloroethylene, trichloroethylene and vinylidene chloride, hydrochloric acid, hydrogen, bleach products and potassium hydroxide.
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