Yacktman Asset Management LP Reduces Holdings in Olin Co. (NYSE:OLN)

Yacktman Asset Management LP lowered its holdings in Olin Co. (NYSE:OLN - Free Report) by 6.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,919,957 shares of the specialty chemicals company's stock after selling 292,186 shares during the period. Olin comprises 1.9% of Yacktman Asset Management LP's portfolio, making the stock its 22nd largest position. Yacktman Asset Management LP owned 3.33% of Olin worth $188,080,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of OLN. LRI Investments LLC bought a new stake in shares of Olin in the 1st quarter worth about $28,000. Farther Finance Advisors LLC lifted its stake in Olin by 88.2% during the third quarter. Farther Finance Advisors LLC now owns 589 shares of the specialty chemicals company's stock worth $28,000 after purchasing an additional 276 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Olin by 4,375.0% in the first quarter. EverSource Wealth Advisors LLC now owns 537 shares of the specialty chemicals company's stock worth $32,000 after purchasing an additional 525 shares during the period. nVerses Capital LLC acquired a new stake in shares of Olin during the second quarter worth $33,000. Finally, Denver PWM LLC bought a new position in shares of Olin in the 2nd quarter worth about $59,000. Institutional investors and hedge funds own 88.67% of the company's stock.

Olin Trading Down 0.5 %

Shares of NYSE OLN traded down $0.22 during trading on Tuesday, reaching $41.77. The company had a trading volume of 1,726,179 shares, compared to its average volume of 1,174,156. Olin Co. has a 12 month low of $39.47 and a 12 month high of $60.60. The company's fifty day moving average price is $44.52 and its 200-day moving average price is $47.53. The stock has a market cap of $4.87 billion, a P/E ratio of 33.53, a PEG ratio of 1.65 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 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Thursday, November 14th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date of this dividend is Thursday, November 14th. Olin's payout ratio is currently 64.52%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on OLN shares. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Olin from $57.00 to $48.00 and set a "hold" rating on the stock in a report on Monday, July 29th. Barclays reduced their target price on shares of Olin from $49.00 to $45.00 and set an "equal weight" rating for the company in a report on Monday, October 28th. Wells Fargo & Company reduced their price target on shares of Olin from $48.00 to $44.00 and set an "equal weight" rating for the company in a research report on Monday, October 28th. Bank of America cut Olin from a "buy" rating to a "neutral" rating and lowered their target price for the company from $62.00 to $51.00 in a research note on Monday, July 29th. Finally, Piper Sandler cut their price objective on Olin from $57.00 to $51.00 and set an "overweight" rating for the company in a report on Wednesday, October 30th. Eight investment 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, Olin presently has a consensus rating of "Hold" and a consensus price target 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.