56,500 Shares in Olin Co. (NYSE:OLN) Purchased by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. purchased a new position in Olin Co. (NYSE:OLN - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 56,500 shares of the specialty chemicals company's stock, valued at approximately $2,711,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Pzena Investment Management LLC grew its holdings in Olin by 24.8% during the 3rd quarter. Pzena Investment Management LLC now owns 3,452,708 shares of the specialty chemicals company's stock valued at $165,661,000 after buying an additional 685,710 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its stake in Olin by 6.4% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 8,838,988 shares of the specialty chemicals company's stock worth $424,095,000 after acquiring an additional 531,330 shares in the last quarter. AQR Capital Management LLC increased its position in Olin by 429.8% during the 2nd quarter. AQR Capital Management LLC now owns 610,153 shares of the specialty chemicals company's stock valued at $28,769,000 after purchasing an additional 494,976 shares during the period. Verition Fund Management LLC boosted its position in Olin by 70.9% during the 3rd quarter. Verition Fund Management LLC now owns 544,814 shares of the specialty chemicals company's stock valued at $26,140,000 after acquiring an additional 225,930 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Olin by 5.5% during the second quarter. Dimensional Fund Advisors LP now owns 3,741,007 shares of the specialty chemicals company's stock valued at $176,396,000 after buying an additional 194,755 shares during the last quarter. 88.67% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Piper Sandler cut their price objective on Olin from $57.00 to $51.00 and set an "overweight" rating on the stock in a report on Wednesday, October 30th. BMO Capital Markets reduced their price objective on Olin from $50.00 to $47.00 and set a "market perform" rating for the company in a research note on Tuesday, October 29th. Wells Fargo & Company lowered their price objective on Olin from $48.00 to $44.00 and set an "equal weight" rating on the stock in a research note on Monday, October 28th. KeyCorp lowered their price objective on Olin from $57.00 to $56.00 and set an "overweight" rating for the company in a research report on Monday, October 28th. Finally, Barclays dropped their target price on Olin from $49.00 to $45.00 and set an "equal weight" rating for the company in a research report on Monday, October 28th. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $51.86.

Insiders Place Their Bets

In related news, VP R Nichole Sumner sold 10,500 shares of the firm's stock in a transaction on Friday, November 8th. The shares were 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 directly owns 24,056 shares of the company's stock, valued at approximately $1,052,450. This trade represents a 30.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.60% of the company's stock.

Olin Stock Performance

NYSE OLN traded up $0.26 during trading on Friday, hitting $41.27. The company's stock had a trading volume of 960,374 shares, compared to its average volume of 1,193,036. The firm has a 50 day moving average price of $43.94 and a 200 day moving average price of $45.60. Olin Co. has a 52 week low of $39.47 and a 52 week high of $60.60. The company has a quick ratio of 0.82, a current ratio of 1.40 and a debt-to-equity ratio of 1.32. The firm has a market cap of $4.81 billion, a P/E ratio of 33.28, a price-to-earnings-growth ratio of 1.72 and a beta of 1.43.

Olin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Thursday, November 14th will be issued a dividend of $0.20 per share. 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 payout ratio is 64.52%.

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.