State Street Corp Reduces Holdings in Olin Co. (NYSE:OLN)

State Street Corp trimmed its holdings in shares of Olin Co. (NYSE:OLN - Free Report) by 1.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,728,489 shares of the specialty chemicals company's stock after selling 92,511 shares during the quarter. State Street Corp owned 4.06% of Olin worth $226,873,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in OLN. Pzena Investment Management LLC raised its position in shares of Olin by 24.8% in 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 purchasing an additional 685,710 shares during the last quarter. Hotchkis & Wiley Capital Management LLC grew its holdings in Olin by 6.4% during the third 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 during the period. AQR Capital Management LLC boosted 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 worth $28,769,000 after purchasing an additional 494,976 shares in the last quarter. Verition Fund Management LLC grew its stake in shares of Olin by 70.9% during the 3rd quarter. Verition Fund Management LLC now owns 544,814 shares of the specialty chemicals company's stock worth $26,140,000 after purchasing an additional 225,930 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Olin by 5.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,741,007 shares of the specialty chemicals company's stock valued at $176,396,000 after purchasing an additional 194,755 shares in the last quarter. 88.67% of the stock is owned by institutional investors and hedge funds.

Olin Trading Up 0.6 %

NYSE:OLN traded up $0.24 on Thursday, reaching $38.38. The company's stock had a trading volume of 996,137 shares, compared to its average volume of 1,211,221. Olin Co. has a 12-month low of $37.60 and a 12-month high of $60.60. The stock has a 50 day moving average price of $43.48 and a 200 day moving average price of $45.23. The firm has a market cap of $4.47 billion, a price-to-earnings ratio of 30.76, a price-to-earnings-growth ratio of 1.67 and a beta of 1.43. The company has a quick ratio of 0.82, a current ratio of 1.40 and a debt-to-equity ratio of 1.32.

Olin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Thursday, November 14th will be issued a $0.20 dividend. The ex-dividend date is Thursday, November 14th. This represents a $0.80 annualized dividend and a yield of 2.08%. Olin's dividend payout ratio (DPR) is presently 64.52%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. KeyCorp lowered their target price on shares of Olin from $57.00 to $56.00 and set an "overweight" rating on the stock in a research note on Monday, October 28th. Piper Sandler reduced their price objective on shares of Olin from $57.00 to $51.00 and set an "overweight" rating for the company in a research report on Wednesday, October 30th. Royal Bank of Canada decreased their price target on shares of Olin from $52.00 to $48.00 and set an "outperform" rating on the stock in a research note on Tuesday, October 29th. Wells Fargo & Company cut their price objective on Olin from $48.00 to $44.00 and set an "equal weight" rating for the company in a research note on Monday, October 28th. Finally, BMO Capital Markets dropped their price target on Olin from $50.00 to $47.00 and set a "market perform" rating for the company in a research report on Tuesday, October 29th. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Olin currently has an average rating of "Hold" and an average target price of $51.86.

Insiders Place Their Bets

In other news, VP R Nichole Sumner sold 10,500 shares of the firm's stock in a transaction that occurred 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 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 document filed with the SEC, which can be accessed through the SEC website. 1.60% of the stock is owned by insiders.

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.