Olin Co. (NYSE:OLN) Shares Sold by Stifel Financial Corp

Stifel Financial Corp cut its holdings in shares of Olin Co. (NYSE:OLN - Free Report) by 23.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 105,759 shares of the specialty chemicals company's stock after selling 32,517 shares during the quarter. Stifel Financial Corp owned about 0.09% of Olin worth $5,074,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in OLN. Farther Finance Advisors LLC grew its position 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 bought a new stake in shares of Olin during the 2nd quarter worth $33,000. Covestor Ltd increased its stake in Olin by 357.5% during 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 about $47,000. Finally, Denver PWM LLC acquired a new stake in shares of Olin in the 2nd quarter valued at $59,000. Institutional investors and hedge funds own 88.67% of the company's stock.

Insider Activity

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 stock was sold at an average price of $43.75, for a total value of $459,375.00. Following the completion of the sale, the vice president now directly owns 24,056 shares of the company's stock, valued at $1,052,450. This trade represents a 30.39 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.60% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on OLN. Piper Sandler dropped their price objective on shares of Olin from $57.00 to $51.00 and set an "overweight" rating on the stock in a report on Wednesday, October 30th. KeyCorp cut their price objective on shares of Olin from $57.00 to $56.00 and set an "overweight" rating for the company in a report on Monday, October 28th. Wells Fargo & Company dropped their price objective on Olin from $48.00 to $44.00 and set an "equal weight" rating for the company in a research report on Monday, October 28th. BMO Capital Markets reduced their target price 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. Finally, 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 report on Tuesday, October 29th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $51.71.

Olin Trading Down 2.0 %

OLN stock traded down $0.78 during mid-day trading on Friday, reaching $37.31. The company's stock had a trading volume of 2,965,336 shares, compared to its average volume of 1,223,423. The company has a current ratio of 1.40, a quick ratio of 0.82 and a debt-to-equity ratio of 1.32. Olin Co. has a 12 month low of $36.56 and a 12 month high of $60.60. The business's 50 day moving average price is $43.08 and its 200 day moving average price is $45.00. The company has a market cap of $4.35 billion, a price-to-earnings ratio of 30.09, a price-to-earnings-growth ratio of 1.54 and a beta of 1.43.

Olin announced that its board has initiated a stock repurchase program on Thursday, December 12th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the specialty chemicals company to purchase up to 45% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

Olin Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Thursday, November 14th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.14%. The ex-dividend date was Thursday, November 14th. Olin's dividend 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.