First Sabrepoint Capital Management LP Invests $5.28 Million in Olin Co. (NYSE:OLN)

First Sabrepoint Capital Management LP purchased a new position in shares of Olin Co. (NYSE:OLN - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 110,000 shares of the specialty chemicals company's stock, valued at approximately $5,278,000. Olin accounts for about 1.5% of First Sabrepoint Capital Management LP's portfolio, making the stock its 23rd biggest holding. First Sabrepoint Capital Management LP owned about 0.09% of Olin at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Pzena Investment Management LLC lifted its stake in shares of Olin by 24.8% in the 3rd quarter. Pzena Investment Management LLC now owns 3,452,708 shares of the specialty chemicals company's stock valued at $165,661,000 after purchasing an additional 685,710 shares during the period. Hotchkis & Wiley Capital Management LLC increased its stake in shares of Olin by 6.4% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 8,838,988 shares of the specialty chemicals company's stock valued at $424,095,000 after purchasing an additional 531,330 shares in the last quarter. AQR Capital Management LLC raised its holdings in Olin by 429.8% in the 2nd quarter. AQR Capital Management LLC now owns 610,153 shares of the specialty chemicals company's stock worth $28,769,000 after purchasing an additional 494,976 shares during the period. Verition Fund Management LLC raised its stake in shares of Olin by 70.9% during the 3rd quarter. Verition Fund Management LLC now owns 544,814 shares of the specialty chemicals company's stock worth $26,140,000 after buying an additional 225,930 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of Olin by 5.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,741,007 shares of the specialty chemicals company's stock valued at $176,396,000 after buying an additional 194,755 shares in the last quarter. Hedge funds and other institutional investors own 88.67% of the company's stock.

Olin Stock Down 7.1 %

Olin stock traded down $3.01 during mid-day trading on Tuesday, reaching $39.18. 2,732,171 shares of the company's stock were exchanged, compared to its average volume of 1,200,940. The company has a fifty day moving average of $43.83 and a 200-day moving average of $45.39. The company has a market cap of $4.57 billion, a P/E ratio of 34.02, a P/E/G ratio of 1.67 and a beta of 1.43. The company has a quick ratio of 0.82, a current ratio of 1.40 and a debt-to-equity ratio of 1.32. Olin Co. has a twelve month low of $39.12 and a twelve month high of $60.60.

Olin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Thursday, November 14th will be issued a $0.20 dividend. The ex-dividend date is Thursday, November 14th. This represents a $0.80 annualized dividend and a yield of 2.04%. Olin's dividend payout ratio (DPR) is 64.52%.

Analyst Ratings Changes

OLN has been the subject of several research analyst reports. BMO Capital Markets reduced their price target on shares of Olin from $50.00 to $47.00 and set a "market perform" rating for the company in a research report on Tuesday, October 29th. KeyCorp dropped their price target on Olin from $57.00 to $56.00 and set an "overweight" rating for the company in a research report on Monday, October 28th. Royal Bank of Canada lowered their price objective on Olin from $52.00 to $48.00 and set an "outperform" rating on the stock in a research note on Tuesday, October 29th. Wells Fargo & Company reduced their price target on Olin from $48.00 to $44.00 and set an "equal weight" rating on the stock in a report on Monday, October 28th. Finally, Barclays dropped their price objective on shares of Olin from $49.00 to $45.00 and set an "equal weight" rating for the company in a report on Monday, October 28th. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $51.86.

Insider Buying and Selling

In other news, VP R Nichole Sumner sold 10,500 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $43.75, for a total value of $459,375.00. Following the transaction, the vice president now owns 24,056 shares in the company, valued at approximately $1,052,450. This represents a 30.39 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.60% of the stock is owned by insiders.

Olin 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.