State of New Jersey Common Pension Fund D Buys 6,466 Shares of Olin Co. (NYSE:OLN)

State of New Jersey Common Pension Fund D raised its stake in shares of Olin Co. (NYSE:OLN) by 16.9% in the 3rd quarter, Holdings Channel reports. The firm owned 44,695 shares of the specialty chemicals company’s stock after acquiring an additional 6,466 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Olin were worth $2,144,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. LRI Investments LLC bought a new position in Olin during the first quarter valued at approximately $28,000. Farther Finance Advisors LLC boosted 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 acquiring an additional 276 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Olin by 4,375.0% in the first quarter. EverSource Wealth Advisors LLC now owns 537 shares of the specialty chemicals company’s stock valued at $32,000 after purchasing an additional 525 shares in the last quarter. nVerses Capital LLC bought a new stake in Olin in the second quarter worth $33,000. Finally, Covestor Ltd raised 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 purchasing an additional 715 shares in the last quarter. Hedge funds and other institutional investors own 88.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on OLN shares. Mizuho began coverage on shares of Olin in a report on Thursday, August 8th. They issued a “neutral” rating and a $45.00 target price on the stock. The Goldman Sachs Group decreased their price objective on Olin from $55.00 to $49.00 and set a “neutral” rating on the stock in a research report on Monday, July 29th. Piper Sandler cut their target price on Olin from $57.00 to $51.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Olin from $57.00 to $48.00 and set a “hold” rating on the stock in a research report on Monday, July 29th. Finally, BMO Capital Markets reduced 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 research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $51.86.

Olin Trading Down 2.0 %

OLN opened at $41.82 on Friday. 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 stock’s fifty day moving average is $44.51 and its two-hundred day moving average is $47.08. The company has a market capitalization of $4.88 billion, a P/E ratio of 33.73, a PEG ratio of 1.74 and a beta of 1.43. Olin Co. has a 52 week low of $39.47 and a 52 week high of $60.60.

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 1.91%. The ex-dividend date is Thursday, November 14th. Olin’s dividend payout ratio (DPR) is presently 64.52%.

Insiders Place Their Bets

In related news, VP R Nichole Sumner sold 10,500 shares of the business’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 $1,052,450. The trade was a 30.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.60% of the stock is owned by company insiders.

Olin Company 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.