Olin Co. (NYSE:OLN) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. reduced its stake in shares of Olin Co. (NYSE:OLNGet Rating) by 8.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 795,520 shares of the specialty chemicals company’s stock after selling 76,129 shares during the period. Victory Capital Management Inc.’s holdings in Olin were worth $34,112,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD grew its holdings in Olin by 0.5% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 42,285 shares of the specialty chemicals company’s stock worth $1,957,000 after acquiring an additional 216 shares in the last quarter. U.S. Capital Wealth Advisors LLC grew its holdings in Olin by 5.8% during the 1st quarter. U.S. Capital Wealth Advisors LLC now owns 4,714 shares of the specialty chemicals company’s stock worth $246,000 after acquiring an additional 259 shares in the last quarter. Stratos Wealth Partners LTD. grew its holdings in Olin by 7.2% during the 2nd quarter. Stratos Wealth Partners LTD. now owns 4,377 shares of the specialty chemicals company’s stock worth $203,000 after acquiring an additional 294 shares in the last quarter. Commonwealth Equity Services LLC grew its holdings in Olin by 0.8% during the 2nd quarter. Commonwealth Equity Services LLC now owns 39,247 shares of the specialty chemicals company’s stock worth $1,816,000 after acquiring an additional 311 shares in the last quarter. Finally, Credit Suisse AG boosted its holdings in shares of Olin by 0.3% in the 2nd quarter. Credit Suisse AG now owns 117,917 shares of the specialty chemicals company’s stock valued at $5,458,000 after buying an additional 335 shares during the period. 85.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on OLN shares. Royal Bank of Canada lifted their price target on shares of Olin from $58.00 to $60.00 and gave the company an “outperform” rating in a report on Friday, October 28th. Morgan Stanley lowered shares of Olin from an “equal weight” rating to an “underweight” rating and set a $50.00 price target for the company. in a report on Tuesday, January 10th. Piper Sandler decreased their price target 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. The Goldman Sachs Group assumed coverage on shares of Olin in a report on Thursday, October 13th. They issued a “buy” rating and a $56.00 price target for the company. Finally, StockNews.com began coverage on shares of Olin in a research note on Wednesday, October 12th. They set a “buy” rating for the company. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Olin currently has an average rating of “Moderate Buy” and an average target price of $58.73.

Olin Stock Up 3.8 %

Shares of NYSE:OLN opened at $56.39 on Monday. Olin Co. has a 12 month low of $41.33 and a 12 month high of $67.25. The company’s 50-day moving average price is $55.16 and its two-hundred day moving average price is $52.42. 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 firm has a market cap of $7.72 billion, a P/E ratio of 6.06, a P/E/G ratio of 0.94 and a beta of 1.42.

Olin (NYSE:OLNGet Rating) last announced its quarterly earnings results on Wednesday, October 26th. The specialty chemicals company reported $2.18 earnings per share for the quarter, beating analysts’ consensus estimates of $1.86 by $0.32. The business had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.38 billion. Olin had a net margin of 14.62% and a return on equity of 56.96%. As a group, research analysts forecast that Olin Co. will post 8.84 EPS for the current fiscal year.

Olin Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 9th. Stockholders of record on Thursday, November 10th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Wednesday, November 9th. This represents a $0.80 annualized dividend and a dividend yield of 1.42%. Olin’s dividend payout ratio is currently 8.59%.

Insider Activity at Olin

In other Olin news, COO James A. Varilek sold 50,000 shares of Olin stock in a transaction on Friday, November 18th. The shares were sold at an average price of $56.56, for a total transaction of $2,828,000.00. Following the completion of the transaction, the chief operating officer now directly owns 17,761 shares of the company’s stock, valued at $1,004,562.16. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 9.00% of the stock is owned by company insiders.

Olin Company Profile

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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.

Further Reading

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Institutional Ownership by Quarter for Olin (NYSE:OLN)

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