Olin Co. (NYSE:OLN) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets trimmed its stake in shares of Olin Co. (NYSE:OLN - Free Report) by 16.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 241,470 shares of the specialty chemicals company's stock after selling 46,265 shares during the quarter. BNP Paribas Financial Markets owned 0.21% of Olin worth $11,586,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Farther Finance Advisors LLC boosted its stake in shares of Olin by 88.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 589 shares of the specialty chemicals company's stock valued at $28,000 after buying an additional 276 shares during the period. EverSource Wealth Advisors LLC lifted its stake in Olin by 4,375.0% in the first quarter. EverSource Wealth Advisors LLC now owns 537 shares of the specialty chemicals company's stock worth $32,000 after acquiring an additional 525 shares during the last quarter. nVerses Capital LLC acquired a new position in Olin during the 2nd quarter worth approximately $33,000. Covestor Ltd grew its holdings in Olin by 357.5% during the 3rd quarter. Covestor Ltd now owns 915 shares of the specialty chemicals company's stock worth $44,000 after acquiring an additional 715 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Olin in the 3rd quarter valued at approximately $47,000. 88.67% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, VP R Nichole Sumner sold 10,500 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $43.75, for a total transaction of $459,375.00. Following the completion of the transaction, the vice president now directly owns 24,056 shares of the company's stock, valued at approximately $1,052,450. This represents a 30.39 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 1.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on OLN shares. KeyCorp decreased their price objective on shares of Olin from $57.00 to $56.00 and set an "overweight" rating for the company in a research report on Monday, October 28th. Mizuho assumed coverage on Olin in a report on Thursday, August 8th. They set a "neutral" rating and a $45.00 price target for the company. BMO Capital Markets dropped their price objective on Olin from $50.00 to $47.00 and set a "market perform" rating on the stock in a report on Tuesday, October 29th. Piper Sandler cut their target price on Olin from $57.00 to $51.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company lowered their price target on Olin from $48.00 to $44.00 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 assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $51.86.

Olin Stock Performance

Shares of Olin stock traded up $0.86 during trading hours on Monday, hitting $43.45. 1,011,359 shares of the company were exchanged, compared to its average volume of 1,195,959. The company has a current ratio of 1.40, a quick ratio of 0.82 and a debt-to-equity ratio of 1.32. The business has a 50-day moving average of $44.41 and a 200-day moving average of $45.96. Olin Co. has a 1 year low of $39.47 and a 1 year high of $60.60. The stock has a market capitalization of $5.07 billion, a price-to-earnings ratio of 34.35, a P/E/G ratio of 1.72 and a beta of 1.43.

Olin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Thursday, November 14th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.84%. The ex-dividend date is Thursday, November 14th. Olin's dividend payout ratio (DPR) is presently 64.52%.

About Olin

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.