Raymond James & Associates Buys 18,606 Shares of Olin Co. (NYSE:OLN)

Raymond James & Associates raised its position in shares of Olin Co. (NYSE:OLN - Free Report) by 10.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 192,826 shares of the specialty chemicals company's stock after purchasing an additional 18,606 shares during the period. Raymond James & Associates owned about 0.16% of Olin worth $9,252,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in OLN. LRI Investments LLC acquired a new position in shares of Olin in the 1st quarter valued at about $28,000. EverSource Wealth Advisors LLC lifted 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 worth $32,000 after acquiring an additional 525 shares during the last quarter. nVerses Capital LLC acquired a new stake in Olin during the 2nd quarter worth approximately $33,000. Headlands Technologies LLC acquired a new position in shares of Olin during the first quarter worth about $69,000. Finally, Denver PWM LLC acquired a new position in shares of Olin during the second quarter worth $59,000. 88.67% of the stock is currently owned by hedge funds and other institutional investors.

Olin Trading Up 0.6 %

Shares of Olin stock traded up $0.24 on Wednesday, hitting $41.13. 1,193,335 shares of the company's stock traded hands, compared to its average volume of 1,165,320. The firm's 50-day moving average price is $44.72 and its two-hundred day moving average price is $47.88. The stock has a market capitalization of $4.83 billion, a PE ratio of 33.27, a price-to-earnings-growth ratio of 1.01 and a beta of 1.41. Olin Co. has a one year low of $39.47 and a one year 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 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Thursday, November 14th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend is Thursday, November 14th. Olin's payout ratio is presently 64.52%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. BMO Capital Markets reduced their target price on shares of Olin from $50.00 to $47.00 and set a "market perform" rating for the company in a report on Tuesday. The Goldman Sachs Group cut their price target on Olin from $55.00 to $49.00 and set a "neutral" rating for the company in a report on Monday, July 29th. Mizuho assumed coverage on Olin in a research note on Thursday, August 8th. They set a "neutral" rating and a $45.00 price target for the company. Bank of America cut Olin from a "buy" rating to a "neutral" rating and reduced their target price for the company from $62.00 to $51.00 in a research note on Monday, July 29th. Finally, KeyCorp reduced their price objective on Olin from $57.00 to $56.00 and set an "overweight" rating on the stock in a research note on Monday. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $50.93.

Olin Company 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.