Commerce Bank Increases Stake in Olin Co. (NYSE:OLN)

Commerce Bank lifted its stake in Olin Co. (NYSE:OLN) by 48.0% in the third quarter, Holdings Channel.com reports. The fund owned 18,069 shares of the specialty chemicals company’s stock after purchasing an additional 5,863 shares during the period. Commerce Bank’s holdings in Olin were worth $867,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in the stock. LRI Investments LLC bought a new position in shares of Olin in the first quarter worth $28,000. Farther Finance Advisors LLC boosted its stake in shares of Olin by 88.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 589 shares of the specialty chemicals company’s stock valued at $28,000 after purchasing an additional 276 shares in the last quarter. EverSource Wealth Advisors LLC increased 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 worth $32,000 after buying an additional 525 shares during the period. nVerses Capital LLC bought a new position in shares of Olin in the second quarter worth approximately $33,000. Finally, Covestor Ltd grew its stake in shares of 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 purchasing an additional 715 shares during the last quarter. Institutional investors own 88.67% of the company’s stock.

Insiders Place Their Bets

In related news, VP R Nichole Sumner sold 10,500 shares of the firm’s stock in a transaction 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 directly owns 24,056 shares of the company’s stock, valued at approximately $1,052,450. This trade represents a 30.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.60% of the company’s stock.

Olin Trading Up 2.0 %

Shares of Olin stock opened at $42.87 on Monday. Olin Co. has a twelve month low of $39.47 and a twelve month high of $60.60. 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 business has a 50-day moving average price of $44.51 and a 200-day moving average price of $46.49. The firm has a market cap of $5.00 billion, a price-to-earnings ratio of 34.57, a PEG ratio of 1.70 and a beta of 1.43.

Olin Dividend Announcement

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

Analysts Set New Price Targets

A number of research analysts have issued reports on OLN shares. Royal Bank of Canada reduced their price objective on shares of Olin from $52.00 to $48.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 29th. Barclays lowered their price objective on Olin from $49.00 to $45.00 and set an “equal weight” rating for the company in a research note on Monday, October 28th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Olin from $57.00 to $48.00 and set a “hold” rating for the company in a research report on Monday, July 29th. Mizuho began coverage on shares of Olin in a report on Thursday, August 8th. They set a “neutral” rating and a $45.00 price target on the stock. Finally, Piper Sandler dropped 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. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Olin currently has a consensus rating of “Hold” and a consensus price target of $51.86.

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.