Bridgewater Associates LP Acquires 41,078 Shares of Olin Co. (NYSE:OLN)

Bridgewater Associates LP boosted its position in Olin Co. (NYSE:OLN - Free Report) by 286.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,424 shares of the specialty chemicals company's stock after buying an additional 41,078 shares during the quarter. Bridgewater Associates LP's holdings in Olin were worth $2,659,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of OLN. Harbor Capital Advisors Inc. lifted its position in shares of Olin by 344.3% in the second quarter. Harbor Capital Advisors Inc. now owns 40,760 shares of the specialty chemicals company's stock worth $1,922,000 after purchasing an additional 31,587 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of Olin by 1,220.6% in the second quarter. SG Americas Securities LLC now owns 50,050 shares of the specialty chemicals company's stock worth $2,360,000 after acquiring an additional 46,260 shares during the last quarter. Segall Bryant & Hamill LLC bought a new position in Olin in the third quarter valued at about $916,000. Magnetar Financial LLC bought a new stake in shares of Olin during the 2nd quarter valued at $2,350,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in Olin by 2.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,295,699 shares of the specialty chemicals company's stock worth $62,168,000 after acquiring an additional 37,043 shares during the last quarter. Institutional investors and hedge funds own 88.67% of the company's stock.

Insiders Place Their Bets

In other Olin news, VP R Nichole Sumner sold 10,500 shares of the firm's stock in a transaction on Friday, November 8th. The shares were 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 $1,052,450. This trade represents a 30.39 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.60% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. KeyCorp cut their price target on shares of Olin from $57.00 to $56.00 and set an "overweight" rating on the stock in a research report on Monday, October 28th. BMO Capital Markets decreased their price target on Olin from $50.00 to $47.00 and set a "market perform" rating on the stock in a research note on Tuesday, October 29th. Barclays cut their price target on Olin from $49.00 to $45.00 and set an "equal weight" rating on the stock in a report on Monday, October 28th. Piper Sandler decreased their price target on Olin from $57.00 to $51.00 and set an "overweight" rating for the company in a report on Wednesday, October 30th. Finally, Mizuho began coverage on Olin in a research note on Thursday, August 8th. They issued a "neutral" rating and a $45.00 price objective on the stock. 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, Olin presently has an average rating of "Hold" and a consensus target price of $51.86.

Olin Stock Performance

NYSE OLN traded down $0.11 on Friday, hitting $42.59. 855,713 shares of the company's stock were exchanged, compared to its average volume of 1,458,889. The firm has a market cap of $4.97 billion, a price-to-earnings ratio of 34.35, a P/E/G ratio of 1.72 and a beta of 1.43. The firm's 50-day moving average price is $44.41 and its two-hundred day moving average price is $46.03. Olin Co. has a fifty-two week low of $39.47 and a fifty-two week high of $60.60. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.40 and a quick ratio of 0.82.

Olin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders 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 dividend on an annualized basis and a yield of 1.88%. Olin's dividend payout ratio (DPR) is 64.52%.

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.