Barclays PLC Grows Holdings in Olin Co. (NYSE:OLN)

Barclays PLC raised its holdings in Olin Co. (NYSE:OLN - Free Report) by 37.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 125,913 shares of the specialty chemicals company's stock after buying an additional 34,485 shares during the quarter. Barclays PLC owned about 0.11% of Olin worth $6,042,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in OLN. XTX Topco Ltd lifted its stake in shares of Olin by 154.9% during the third quarter. XTX Topco Ltd now owns 51,991 shares of the specialty chemicals company's stock worth $2,495,000 after buying an additional 31,591 shares during the period. National Bank of Canada FI raised its stake in Olin by 8,678.3% in the 3rd quarter. National Bank of Canada FI now owns 62,677 shares of the specialty chemicals company's stock worth $3,007,000 after acquiring an additional 61,963 shares during the last quarter. Weiss Asset Management LP acquired a new stake in Olin during the 3rd quarter worth about $5,505,000. Polar Asset Management Partners Inc. purchased a new stake in Olin during the 3rd quarter valued at about $2,711,000. Finally, Jacobs Levy Equity Management Inc. increased its holdings in shares of Olin by 1,052.3% in the third quarter. Jacobs Levy Equity Management Inc. now owns 53,296 shares of the specialty chemicals company's stock valued at $2,557,000 after purchasing an additional 48,671 shares during the period. Institutional investors and hedge funds own 88.67% of the company's stock.

Olin Trading Up 0.1 %

Shares of OLN stock traded up $0.02 during trading hours on Friday, hitting $33.45. The company had a trading volume of 6,016,299 shares, compared to its average volume of 1,264,603. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.40 and a quick ratio of 0.82. The stock has a market capitalization of $3.90 billion, a PE ratio of 26.98, a price-to-earnings-growth ratio of 1.51 and a beta of 1.43. The company's fifty day moving average is $41.81 and its 200 day moving average is $44.42. Olin Co. has a fifty-two week low of $33.32 and a fifty-two week high of $60.60.

Olin Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Thursday, November 14th were paid a dividend of $0.20 per share. The ex-dividend date was Thursday, November 14th. This represents a $0.80 dividend on an annualized basis and a yield of 2.39%. Olin's dividend payout ratio (DPR) is presently 64.52%.

Olin announced that its board has authorized a stock repurchase program on Thursday, December 12th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the specialty chemicals company to reacquire up to 45% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

OLN has been the topic of several analyst reports. KeyCorp cut their price target on Olin from $57.00 to $56.00 and set an "overweight" rating on the stock in a research report on Monday, October 28th. Royal Bank of Canada dropped their target price on Olin from $52.00 to $48.00 and set an "outperform" rating on the stock in a report on Tuesday, October 29th. Citigroup decreased their price target on Olin from $48.00 to $45.00 and set a "buy" rating for the company in a report on Monday. Piper Sandler decreased their target price on shares of Olin from $57.00 to $51.00 and set an "overweight" rating for the company in a research note on Wednesday, October 30th. Finally, BMO Capital Markets lowered their price target on shares of Olin from $50.00 to $47.00 and set a "market perform" rating on the stock in a report on Tuesday, October 29th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $50.14.

Insider Transactions at Olin

In other news, VP R Nichole Sumner sold 10,500 shares of Olin stock in a transaction dated 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 transaction, 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.80% of the company's stock.

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.