Harbor Capital Advisors Inc. Has $4.84 Million Holdings in Olin Co. (NYSE:OLN)

Harbor Capital Advisors Inc. increased its position in Olin Co. (NYSE:OLN - Free Report) by 55.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 143,062 shares of the specialty chemicals company's stock after purchasing an additional 51,051 shares during the quarter. Harbor Capital Advisors Inc. owned 0.12% of Olin worth $4,835,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its stake in shares of Olin by 88.2% in the third quarter. Farther Finance Advisors LLC now owns 589 shares of the specialty chemicals company's stock worth $28,000 after buying an additional 276 shares during the last quarter. Covestor Ltd grew its holdings in Olin by 357.5% during the 3rd quarter. Covestor Ltd now owns 915 shares of the specialty chemicals company's stock worth $44,000 after acquiring an additional 715 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in shares of Olin in the 3rd quarter worth about $47,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Olin by 26.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,534 shares of the specialty chemicals company's stock valued at $75,000 after purchasing an additional 318 shares in the last quarter. Finally, UMB Bank n.a. lifted its position in shares of Olin by 4,862.5% during the third quarter. UMB Bank n.a. now owns 1,588 shares of the specialty chemicals company's stock worth $76,000 after purchasing an additional 1,556 shares during the last quarter. 88.67% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, VP R Nichole Sumner sold 10,500 shares of the business's stock in a transaction 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 sale, the vice president now owns 24,056 shares of the company's stock, valued at approximately $1,052,450. The trade was a 30.39 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.60% of the company's stock.

Wall Street Analysts Forecast Growth

OLN has been the subject of several research analyst reports. Citigroup lowered their price objective on Olin from $48.00 to $45.00 and set a "buy" rating for the company in a report on Monday, December 16th. Wells Fargo & Company dropped their price target on Olin from $48.00 to $44.00 and set an "equal weight" rating on the stock in a research report on Monday, October 28th. Barclays reduced their price objective on Olin from $45.00 to $43.00 and set an "equal weight" rating on the stock in a research note on Friday, December 13th. Royal Bank of Canada dropped their target price on shares of Olin from $52.00 to $48.00 and set an "outperform" rating on the stock in a report on Tuesday, October 29th. Finally, Piper Sandler decreased their price target on shares of Olin from $51.00 to $41.00 and set an "overweight" rating for the company in a report on Tuesday. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $49.00.

Olin Stock Performance

OLN traded down $0.77 during trading hours on Friday, hitting $31.02. The company's stock had a trading volume of 1,365,242 shares, compared to its average volume of 1,595,238. The company has a current ratio of 1.40, a quick ratio of 0.82 and a debt-to-equity ratio of 1.32. Olin Co. has a fifty-two week low of $30.95 and a fifty-two week high of $60.60. The company has a 50-day simple moving average of $38.39 and a 200 day simple moving average of $42.59. The firm has a market capitalization of $3.62 billion, a PE ratio of 25.02, a PEG ratio of 1.51 and a beta of 1.48.

Olin declared that its Board of Directors has initiated a share buyback program on Thursday, December 12th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the specialty chemicals company to repurchase up to 45% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's leadership believes its stock is undervalued.

Olin Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Thursday, November 14th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date was Thursday, November 14th. Olin's dividend payout ratio is currently 64.52%.

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.