Olin Co. (NYSE:OLN) Shares Acquired by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. boosted its position in Olin Co. (NYSE:OLN - Free Report) by 1,052.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 53,296 shares of the specialty chemicals company's stock after buying an additional 48,671 shares during the period. Jacobs Levy Equity Management Inc.'s holdings in Olin were worth $2,557,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Farther Finance Advisors LLC raised its stake in shares of Olin by 88.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 589 shares of the specialty chemicals company's stock valued at $28,000 after buying an additional 276 shares during the last quarter. nVerses Capital LLC purchased a new position in Olin during the second quarter valued at approximately $33,000. Covestor Ltd lifted its holdings in Olin by 357.5% in the third quarter. Covestor Ltd now owns 915 shares of the specialty chemicals company's stock valued at $44,000 after acquiring an additional 715 shares during the period. Capital Performance Advisors LLP acquired a new position in Olin in the third quarter valued at approximately $47,000. Finally, Denver PWM LLC purchased a new stake in Olin in the 2nd quarter worth approximately $59,000. Institutional investors and hedge funds own 88.67% of the company's stock.

Insider Buying and Selling

In other Olin 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 transaction of $459,375.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.60% of the stock is currently owned by company insiders.

Olin Price Performance

OLN stock traded up $0.26 during midday trading on Friday, reaching $41.27. The stock had a trading volume of 970,471 shares, compared to its average volume of 1,285,744. Olin Co. has a 52-week low of $39.47 and a 52-week high of $60.60. The company has a current ratio of 1.40, a quick ratio of 0.82 and a debt-to-equity ratio of 1.32. The company's fifty day simple moving average is $43.94 and its 200 day simple moving average is $45.47. The company has a market cap of $4.81 billion, a price-to-earnings ratio of 33.28, a price-to-earnings-growth ratio of 1.69 and a beta of 1.43.

Olin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Thursday, November 14th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.94%. The ex-dividend date of this dividend is Thursday, November 14th. Olin's dividend payout ratio is currently 64.52%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on OLN. KeyCorp decreased their target price on shares of Olin from $57.00 to $56.00 and set an "overweight" rating for the company in a research note on Monday, October 28th. BMO Capital Markets decreased their price objective on shares of Olin from $50.00 to $47.00 and set a "market perform" rating for the company in a research report on Tuesday, October 29th. 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 research report on Tuesday, October 29th. Piper Sandler reduced their price target on Olin from $57.00 to $51.00 and set an "overweight" rating for the company in a report on Wednesday, October 30th. Finally, Wells Fargo & Company dropped their price objective on Olin from $48.00 to $44.00 and set an "equal weight" rating on the stock in a report on Monday, October 28th. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Olin presently has a consensus rating of "Hold" and an average 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.