Quest Partners LLC Reduces Stock Holdings in Olin Co. (NYSE:OLN)

Quest Partners LLC lessened its position in Olin Co. (NYSE:OLN - Free Report) by 83.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,058 shares of the specialty chemicals company's stock after selling 20,521 shares during the quarter. Quest Partners LLC's holdings in Olin were worth $195,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Boston Partners grew its position in Olin by 7.7% during the 1st quarter. Boston Partners now owns 5,414,265 shares of the specialty chemicals company's stock valued at $317,897,000 after purchasing an additional 384,888 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings 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. Bank of New York Mellon Corp increased its position in shares of Olin by 2.5% during the second quarter. Bank of New York Mellon Corp now owns 1,373,519 shares of the specialty chemicals company's stock valued at $64,761,000 after acquiring an additional 33,143 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in Olin by 2.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,061,001 shares of the specialty chemicals company's stock valued at $50,907,000 after acquiring an additional 25,163 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in Olin by 429.8% in 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 acquiring an additional 494,976 shares in the last quarter. Hedge funds and other institutional investors own 88.67% of the company's stock.

Olin Stock Up 1.5 %

Shares of OLN stock traded up $0.64 during mid-day trading on Thursday, hitting $42.70. The stock had a trading volume of 1,000,610 shares, compared to its average volume of 1,198,241. Olin Co. has a 12-month low of $39.47 and a 12-month high of $60.60. 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 firm's 50-day moving average is $44.48 and its two-hundred day moving average is $46.22. The firm has a market capitalization of $4.98 billion, a P/E ratio of 34.44, a price-to-earnings-growth ratio of 1.76 and a beta of 1.43.

Olin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Thursday, November 14th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend is Thursday, November 14th. Olin's dividend payout ratio (DPR) is presently 64.52%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on OLN shares. Royal Bank of Canada decreased their price target on Olin from $52.00 to $48.00 and set an "outperform" rating for the company in a research note on Tuesday, October 29th. Mizuho initiated coverage on Olin in a research report on Thursday, August 8th. They issued a "neutral" rating and a $45.00 target price for the company. Wells Fargo & Company dropped their price target on shares of Olin from $48.00 to $44.00 and set an "equal weight" rating on the stock in a report on Monday, October 28th. Piper Sandler reduced their price target 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 objective on shares of Olin from $50.00 to $47.00 and set a "market perform" rating on the stock in a research report on Tuesday, October 29th. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Olin has a consensus rating of "Hold" and a consensus target price of $51.86.

Insiders Place Their Bets

In other Olin news, VP R Nichole Sumner sold 10,500 shares of the 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 sale, the vice president now owns 24,056 shares of the company's stock, valued at approximately $1,052,450. This trade represents a 30.39 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.60% of the stock is owned by company insiders.

About Olin

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.