Olin Co. (NYSE:OLN) Stake Cut by Quantinno Capital Management LP

Quantinno Capital Management LP decreased its holdings in shares of Olin Co. (NYSE:OLN) by 62.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,291 shares of the specialty chemicals company’s stock after selling 12,354 shares during the period. Quantinno Capital Management LP’s holdings in Olin were worth $350,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Olin by 20.5% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 8,466 shares of the specialty chemicals company’s stock worth $399,000 after purchasing an additional 1,440 shares during the last quarter. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Olin during the second quarter valued at $211,000. Blue Trust Inc. grew its position in shares of Olin by 79.1% during the second quarter. Blue Trust Inc. now owns 1,311 shares of the specialty chemicals company’s stock worth $62,000 after acquiring an additional 579 shares during the last quarter. Raymond James & Associates increased its holdings in shares of Olin by 11.4% in the 2nd quarter. Raymond James & Associates now owns 174,220 shares of the specialty chemicals company’s stock worth $8,214,000 after acquiring an additional 17,801 shares during the period. Finally, Neo Ivy Capital Management acquired a new stake in shares of Olin in the 2nd quarter worth about $363,000. Institutional investors own 88.67% of the company’s stock.

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 insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on OLN shares. Wells Fargo & Company decreased their target price on shares of Olin from $48.00 to $44.00 and set an “equal weight” rating for the company in a research report on Monday, October 28th. Barclays decreased their price objective on Olin from $45.00 to $43.00 and set an “equal weight” rating for the company in a report on Friday. BMO Capital Markets cut their target price on Olin from $50.00 to $47.00 and set a “market perform” rating on the stock in a research note on Tuesday, October 29th. KeyCorp reduced their price target on Olin from $57.00 to $56.00 and set an “overweight” rating for the company in a research report on Monday, October 28th. Finally, Royal Bank of Canada lowered their price target on Olin from $52.00 to $48.00 and set an “outperform” rating on the stock in a report on Tuesday, October 29th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $51.71.

Olin Price Performance

NYSE OLN opened at $37.31 on Monday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.82 and a current ratio of 1.40. The stock has a 50-day simple moving average of $43.08 and a 200 day simple moving average of $45.00. The stock has a market capitalization of $4.35 billion, a PE ratio of 30.09, a P/E/G ratio of 1.54 and a beta of 1.43. Olin Co. has a twelve month low of $36.56 and a twelve month high of $60.60.

Olin declared that its board has initiated a stock buyback program on Thursday, December 12th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the specialty chemicals company to purchase up to 45% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Olin Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Thursday, November 14th were given a $0.20 dividend. The ex-dividend date was Thursday, November 14th. This represents a $0.80 annualized dividend and a yield of 2.14%. Olin’s dividend payout ratio (DPR) is currently 64.52%.

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.