Hantz Financial Services Inc. reduced its holdings in shares of Olin Co. (NYSE:OLN - Free Report) by 48.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,418 shares of the specialty chemicals company's stock after selling 16,095 shares during the quarter. Hantz Financial Services Inc.'s holdings in Olin were worth $836,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. increased its holdings in Olin by 344.3% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 40,760 shares of the specialty chemicals company's stock valued at $1,922,000 after acquiring an additional 31,587 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Olin by 1,220.6% during the second quarter. SG Americas Securities LLC now owns 50,050 shares of the specialty chemicals company's stock worth $2,360,000 after buying an additional 46,260 shares in the last quarter. Segall Bryant & Hamill LLC purchased a new stake in shares of Olin during the third quarter worth about $916,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Olin by 2.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,295,699 shares of the specialty chemicals company's stock worth $62,168,000 after buying an additional 37,043 shares in the last quarter. Finally, Magnetar Financial LLC purchased a new stake in shares of Olin during the second quarter worth about $2,350,000. 88.67% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
OLN has been the topic of several research analyst reports. Piper Sandler decreased their target price on shares of Olin from $57.00 to $51.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 30th. Mizuho began coverage on shares of Olin in a report on Thursday, August 8th. They issued a "neutral" rating and a $45.00 price objective for the company. Barclays dropped their price objective on Olin from $49.00 to $45.00 and set an "equal weight" rating on the stock in a report on Monday, October 28th. KeyCorp decreased their target price on Olin from $57.00 to $56.00 and set an "overweight" rating for the company in a research report on Monday, October 28th. Finally, Wells Fargo & Company cut their price objective 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 analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $51.86.
Read Our Latest Analysis on OLN
Olin Price Performance
Shares of OLN 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 1,196,384. The company has a market cap of $5.07 billion, a price-to-earnings ratio of 35.04, a P/E/G ratio of 1.72 and a beta of 1.43. Olin Co. has a fifty-two week low of $39.47 and a fifty-two week high of $60.60. The company has a quick ratio of 0.82, a current ratio of 1.40 and a debt-to-equity ratio of 1.32. The firm's fifty day moving average is $44.39 and its 200 day moving average is $45.87.
Olin Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Thursday, November 14th will be issued a dividend of $0.20 per share. 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 currently 64.52%.
Insider Transactions at Olin
In related news, VP R Nichole Sumner sold 10,500 shares of the firm's 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 sale, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.60% of the stock is currently owned by insiders.
Olin Profile
(
Free Report)
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.
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