Olin Co. (NYSE:OLN) Shares Purchased by Empowered Funds LLC

Empowered Funds LLC lifted its stake in Olin Co. (NYSE:OLN) by 126.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,498 shares of the specialty chemicals company’s stock after acquiring an additional 11,466 shares during the period. Empowered Funds LLC’s holdings in Olin were worth $983,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Harbor Capital Advisors Inc. raised its stake in shares of Olin by 344.3% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 40,760 shares of the specialty chemicals company’s stock worth $1,922,000 after buying an additional 31,587 shares in the last quarter. SG Americas Securities LLC boosted its holdings in Olin by 1,220.6% during the second quarter. SG Americas Securities LLC now owns 50,050 shares of the specialty chemicals company’s stock worth $2,360,000 after buying an additional 46,260 shares in the last quarter. LRI Investments LLC acquired a new position in Olin in the first quarter worth approximately $28,000. Magnetar Financial LLC bought a new position in shares of Olin in the second quarter valued at $2,350,000. Finally, Canada Pension Plan Investment Board lifted its stake in Olin by 846.7% during the second quarter. Canada Pension Plan Investment Board now owns 14,200 shares of the specialty chemicals company’s stock valued at $670,000 after buying an additional 12,700 shares in the last quarter. 88.67% of the stock is currently owned by institutional investors.

Olin Trading Up 2.0 %

Shares of Olin stock opened at $42.87 on Friday. Olin Co. has a 12-month low of $39.47 and a 12-month high of $60.60. The stock has a market capitalization of $5.00 billion, a P/E ratio of 33.86, a price-to-earnings-growth ratio of 1.66 and a beta of 1.43. The company has a 50-day simple moving average of $44.51 and a 200 day simple moving average of $46.64. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Thursday, November 14th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.87%. The ex-dividend date is Thursday, November 14th. Olin’s payout ratio is currently 64.52%.

Wall Street Analysts Forecast Growth

OLN has been the topic of a number of research reports. BMO Capital Markets dropped their price target on shares of Olin from $50.00 to $47.00 and set a “market perform” rating on the stock in a research note on Tuesday, October 29th. Bank of America cut Olin from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $62.00 to $51.00 in a research report on Monday, July 29th. Barclays decreased their price target on shares of Olin from $49.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Monday, October 28th. Mizuho initiated coverage on shares of Olin in a research report on Thursday, August 8th. They set a “neutral” rating and a $45.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Olin from $57.00 to $48.00 and set a “hold” rating on the stock in a research report on Monday, July 29th. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $51.86.

Insider Transactions at Olin

In related news, VP R Nichole Sumner sold 10,500 shares of Olin 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 of the company’s stock, valued at $1,052,450. The trade was a 30.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 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.