Intech Investment Management LLC Cuts Stock Holdings in Olin Co. (NYSE:OLN)

Intech Investment Management LLC cut its stake in Olin Co. (NYSE:OLN) by 25.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 35,838 shares of the specialty chemicals company’s stock after selling 12,399 shares during the period. Intech Investment Management LLC’s holdings in Olin were worth $1,720,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. LRI Investments LLC purchased a new position in shares of Olin in the 1st quarter valued at about $28,000. Farther Finance Advisors LLC lifted its stake in Olin by 88.2% in the third quarter. Farther Finance Advisors LLC now owns 589 shares of the specialty chemicals company’s stock worth $28,000 after acquiring an additional 276 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Olin by 4,375.0% in the first quarter. EverSource Wealth Advisors LLC now owns 537 shares of the specialty chemicals company’s stock worth $32,000 after acquiring an additional 525 shares during the last quarter. nVerses Capital LLC acquired a new position in shares of Olin during the second quarter worth $33,000. Finally, Covestor Ltd boosted its position in shares of Olin by 357.5% during the 3rd quarter. Covestor Ltd now owns 915 shares of the specialty chemicals company’s stock worth $44,000 after acquiring an additional 715 shares in the last quarter. 88.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on OLN. KeyCorp lowered their price target on Olin from $57.00 to $56.00 and set an “overweight” rating for the company in a report on Monday, October 28th. JPMorgan Chase & Co. upgraded shares of Olin from a “neutral” rating to an “overweight” rating and set a $55.00 price target on the stock in a research note on Monday, July 29th. Royal Bank of Canada decreased their price objective on shares of Olin from $52.00 to $48.00 and set an “outperform” rating for the company in a research note on Tuesday, October 29th. Wells Fargo & Company cut their target price on Olin from $48.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Monday, October 28th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Olin from $57.00 to $48.00 and set a “hold” rating for the company in a research report on Monday, July 29th. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $51.86.

Insider Transactions at Olin

In related news, VP R Nichole Sumner sold 10,500 shares of Olin 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 sale, the vice president now directly owns 24,056 shares in the company, 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 Securities & Exchange Commission, which is available through this link. Company insiders own 1.80% of the company’s stock.

Olin Price Performance

Shares of NYSE OLN opened at $43.57 on Tuesday. The stock has a fifty day moving average price of $44.51 and a 200 day moving average price of $46.43. 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 cap of $5.08 billion, a PE ratio of 34.57, a P/E/G ratio of 1.74 and a beta of 1.43.

Olin Announces Dividend

The company 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 1.84%. The ex-dividend date is Thursday, November 14th. Olin’s 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.