Holocene Advisors LP Grows Stock Position in Olin Co. (NYSE:OLN)

Holocene Advisors LP increased its position in shares of Olin Co. (NYSE:OLN - Free Report) by 504.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 167,186 shares of the specialty chemicals company's stock after acquiring an additional 139,549 shares during the quarter. Holocene Advisors LP owned approximately 0.14% of Olin worth $8,022,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Farther Finance Advisors LLC raised its holdings in 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 raised its holdings in 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 purchased a new stake in Olin in the 2nd quarter valued at about $33,000. Covestor Ltd increased its stake in Olin by 357.5% during the third quarter. Covestor Ltd now owns 915 shares of the specialty chemicals company's stock worth $44,000 after purchasing an additional 715 shares during the period. Finally, Capital Performance Advisors LLP purchased a new stake in Olin during the third quarter worth about $47,000. Institutional investors and hedge funds own 88.67% of the company's stock.

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 value of $459,375.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.80% of the company's stock.

Olin Stock Down 1.3 %

OLN traded down $0.53 on Wednesday, reaching $41.87. The company's stock had a trading volume of 905,852 shares, compared to its average volume of 1,195,154. The stock has a 50 day moving average of $44.25 and a two-hundred day moving average of $45.74. 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 company has a market capitalization of $4.88 billion, a price-to-earnings ratio of 33.77, a P/E/G ratio of 1.76 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.

Olin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Thursday, November 14th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend is Thursday, November 14th. Olin's payout ratio is currently 64.52%.

Analyst Ratings Changes

A number of analysts have issued reports on OLN shares. BMO Capital Markets cut their price target on shares of Olin from $50.00 to $47.00 and set a "market perform" rating on the stock in a research note on Tuesday, October 29th. Mizuho started coverage on shares of Olin in a research note on Thursday, August 8th. They set a "neutral" rating and a $45.00 price target on the stock. Barclays cut their price target on shares of Olin from $49.00 to $45.00 and set an "equal weight" rating on the stock in a research note on Monday, October 28th. Wells Fargo & Company lowered their price objective on Olin from $48.00 to $44.00 and set an "equal weight" rating for the company in a research report on Monday, October 28th. Finally, Piper Sandler lowered their price objective on Olin from $57.00 to $51.00 and set an "overweight" rating for the company in a research report on Wednesday, October 30th. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $51.86.

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.