Hotchkis & Wiley Capital Management LLC Has $424.10 Million Position in Olin Co. (NYSE:OLN)

Hotchkis & Wiley Capital Management LLC boosted its position in shares of Olin Co. (NYSE:OLN - Free Report) by 6.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,838,988 shares of the specialty chemicals company's stock after acquiring an additional 531,330 shares during the quarter. Olin accounts for approximately 1.4% of Hotchkis & Wiley Capital Management LLC's investment portfolio, making the stock its 25th biggest holding. Hotchkis & Wiley Capital Management LLC owned approximately 7.58% of Olin worth $424,095,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in OLN. Dimensional Fund Advisors LP grew its stake in shares of Olin by 5.5% in the second quarter. Dimensional Fund Advisors LP now owns 3,741,007 shares of the specialty chemicals company's stock valued at $176,396,000 after acquiring an additional 194,755 shares in the last quarter. Pzena Investment Management LLC grew its position in Olin by 24.8% in the 3rd quarter. Pzena Investment Management LLC now owns 3,452,708 shares of the specialty chemicals company's stock valued at $165,661,000 after purchasing an additional 685,710 shares during the period. Bank of New York Mellon Corp grew its position in Olin by 2.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,373,519 shares of the specialty chemicals company's stock valued at $64,761,000 after purchasing an additional 33,143 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings 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. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Olin by 2.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,061,001 shares of the specialty chemicals company's stock worth $50,907,000 after purchasing an additional 25,163 shares during the period. 88.67% of the stock is owned by institutional investors.

Insider Buying and Selling at Olin

In related news, VP R Nichole Sumner sold 10,500 shares of the 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 approximately $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 Securities & Exchange Commission, which is accessible through this hyperlink. 1.80% of the stock is owned by corporate insiders.

Olin Price Performance

Shares of OLN traded down $1.05 on Tuesday, reaching $42.40. The stock had a trading volume of 1,180,156 shares, compared to its average volume of 1,196,314. The firm has a 50-day moving average of $44.39 and a 200 day moving average of $45.87. The firm has a market capitalization of $4.94 billion, a PE ratio of 34.19, a PEG ratio of 1.76 and a beta of 1.43. The company has a quick ratio of 0.82, a current ratio of 1.40 and a debt-to-equity ratio of 1.32. Olin Co. has a twelve month low of $39.47 and a twelve month high of $60.60.

Olin Dividend Announcement

The business also recently declared 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 annualized dividend and a dividend yield of 1.89%. Olin's dividend payout ratio is currently 64.52%.

Analysts Set New Price Targets

A number of research analysts have weighed in on OLN shares. Barclays reduced their target price on Olin from $49.00 to $45.00 and set an "equal weight" rating for the company in a report on Monday, October 28th. BMO Capital Markets lowered their price objective on Olin from $50.00 to $47.00 and set a "market perform" rating for the company in a research report on Tuesday, October 29th. Mizuho began coverage on Olin in a research report on Thursday, August 8th. They issued a "neutral" rating and a $45.00 price target for the company. Royal Bank of Canada reduced their price objective on Olin from $52.00 to $48.00 and set an "outperform" rating for the company in a report on Tuesday, October 29th. Finally, KeyCorp lowered their price target on Olin from $57.00 to $56.00 and set an "overweight" rating on the stock in a report on Monday, October 28th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $51.86.

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.