Victory Capital Management Inc. Sells 27,510 Shares of Olin Co. (NYSE:OLN)

Victory Capital Management Inc. lowered its position in Olin Co. (NYSE:OLN - Free Report) by 6.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 385,773 shares of the specialty chemicals company's stock after selling 27,510 shares during the period. Victory Capital Management Inc. owned about 0.33% of Olin worth $18,509,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in OLN. Entropy Technologies LP boosted its position in Olin by 2.5% in the third quarter. Entropy Technologies LP now owns 13,499 shares of the specialty chemicals company's stock worth $648,000 after purchasing an additional 332 shares during the last quarter. Versor Investments LP boosted its holdings in shares of Olin by 72.0% in the 3rd quarter. Versor Investments LP now owns 19,348 shares of the specialty chemicals company's stock worth $928,000 after buying an additional 8,100 shares during the last quarter. State of New Jersey Common Pension Fund D grew its position in Olin by 16.9% during the third quarter. State of New Jersey Common Pension Fund D now owns 44,695 shares of the specialty chemicals company's stock valued at $2,144,000 after buying an additional 6,466 shares during the period. Covestor Ltd raised its position in Olin by 357.5% in the third quarter. Covestor Ltd now owns 915 shares of the specialty chemicals company's stock worth $44,000 after acquiring an additional 715 shares during the period. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Olin during the 3rd quarter worth approximately $47,000. 88.67% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on OLN. Barclays reduced their price objective on Olin from $49.00 to $45.00 and set an "equal weight" rating for the company in a report on Monday, October 28th. BMO Capital Markets decreased their price objective on Olin from $50.00 to $47.00 and set a "market perform" rating for the company in a report on Tuesday, October 29th. Royal Bank of Canada dropped their price objective on shares of Olin from $52.00 to $48.00 and set an "outperform" rating on the stock in a report on Tuesday, October 29th. The Goldman Sachs Group reduced their target price on shares of Olin from $55.00 to $49.00 and set a "neutral" rating for the company in a research note on Monday, July 29th. Finally, KeyCorp dropped their price target 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. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $51.86.

Olin Price Performance

Shares of NYSE:OLN traded down $0.55 on Tuesday, hitting $40.91. The company's stock had a trading volume of 893,084 shares, compared to its average volume of 1,203,352. Olin Co. has a 1 year low of $39.47 and a 1 year 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 company has a market capitalization of $4.77 billion, a PE ratio of 32.64, a PEG ratio of 1.68 and a beta of 1.43. The company has a 50-day simple moving average of $44.50 and a 200 day simple moving average of $46.80.

Olin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Thursday, November 14th will be given a dividend of $0.20 per share. The ex-dividend date is Thursday, November 14th. This represents a $0.80 annualized dividend and a yield of 1.96%. Olin's payout ratio is presently 64.52%.

Insiders Place Their Bets

In other news, VP R Nichole Sumner sold 10,500 shares of the company's stock in a transaction dated 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 transaction, the vice president now directly owns 24,056 shares in the company, valued at approximately $1,052,450. This represents a 30.39 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.60% of the company's stock.

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.