Cerity Partners LLC Has $5.56 Million Stock Position in Olin Co. (NYSE:OLN)

Cerity Partners LLC lifted its stake in Olin Co. (NYSE:OLN - Free Report) by 116.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 115,779 shares of the specialty chemicals company's stock after purchasing an additional 62,352 shares during the period. Cerity Partners LLC owned 0.10% of Olin worth $5,555,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Farther Finance Advisors LLC lifted its holdings in Olin by 88.2% in the third 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 grew its holdings in shares of Olin by 4,375.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 537 shares of the specialty chemicals company's stock valued at $32,000 after buying an additional 525 shares during the period. nVerses Capital LLC bought a new stake in shares of Olin in the 2nd quarter valued at $33,000. Covestor Ltd raised its stake 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 buying an additional 715 shares during the period. Finally, Capital Performance Advisors LLP bought a new position in Olin during the third quarter worth about $47,000. Institutional investors own 88.67% of the company's stock.

Insider Buying and Selling at Olin

In other Olin news, VP R Nichole Sumner sold 10,500 shares of Olin stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $43.75, for a total value of $459,375.00. Following the completion of the sale, the vice president now owns 24,056 shares in the company, valued at $1,052,450. The trade was a 30.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.60% of the company's stock.

Wall Street Analysts Forecast Growth

OLN has been the subject of several research analyst reports. KeyCorp reduced their price target on shares of Olin from $57.00 to $56.00 and set an "overweight" rating for the company in a report on Monday, October 28th. Piper Sandler reduced their price target on Olin from $57.00 to $51.00 and set an "overweight" rating for the company in a research report on Wednesday, October 30th. Royal Bank of Canada lowered their price objective on shares of Olin from $52.00 to $48.00 and set an "outperform" rating on the stock in a report on Tuesday, October 29th. Mizuho initiated coverage on shares of Olin in a report on Thursday, August 8th. They set a "neutral" rating and a $45.00 target price for the company. Finally, BMO Capital Markets decreased their target price 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. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $51.86.

Olin Stock Performance

Olin stock traded down $0.11 during midday trading on Friday, reaching $42.59. 855,713 shares of the company's stock were exchanged, compared to its average volume of 1,196,759. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.82 and a current ratio of 1.40. The firm has a market cap of $4.97 billion, a price-to-earnings ratio of 34.35, a P/E/G ratio of 1.73 and a beta of 1.43. Olin Co. has a 52 week low of $39.47 and a 52 week high of $60.60. The stock's 50-day simple moving average is $44.44 and its 200 day simple moving average is $46.20.

Olin Dividend Announcement

The business also recently disclosed 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 of this dividend is Thursday, November 14th. This represents a $0.80 annualized dividend and a dividend yield of 1.88%. Olin's dividend payout ratio is currently 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.