Kingsview Wealth Management LLC Trims Stock Position in Olin Co. (NYSE:OLN)

Kingsview Wealth Management LLC decreased its holdings in Olin Co. (NYSE:OLN) by 3.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,050 shares of the specialty chemicals company’s stock after selling 241 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Olin were worth $290,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of OLN. EverSource Wealth Advisors LLC boosted its position 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 acquiring an additional 525 shares during the last quarter. Farther Finance Advisors LLC raised its stake in Olin by 88.2% during the third quarter. Farther Finance Advisors LLC now owns 589 shares of the specialty chemicals company’s stock worth $28,000 after purchasing an additional 276 shares during the period. nVerses Capital LLC acquired a new position in shares of Olin in the 2nd quarter valued at $33,000. Covestor Ltd grew its stake in shares of Olin by 357.5% during the 3rd quarter. Covestor Ltd now owns 915 shares of the specialty chemicals company’s stock valued at $44,000 after buying an additional 715 shares during the period. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Olin during the 3rd quarter worth $47,000. Institutional investors and hedge funds own 88.67% of the company’s stock.

Olin Trading Down 0.3 %

NYSE:OLN opened at $42.59 on Friday. The stock has a market cap of $4.97 billion, a price-to-earnings ratio of 34.35, a price-to-earnings-growth ratio of 1.73 and a beta of 1.43. Olin Co. has a one year low of $39.47 and a one year high of $60.60. 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 business’s 50-day simple moving average is $44.41 and its 200 day simple moving average is $46.11.

Olin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Thursday, November 14th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend is Thursday, November 14th. Olin’s payout ratio is 64.52%.

Insider Activity

In other Olin news, VP R Nichole Sumner sold 10,500 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $43.75, for a total transaction of $459,375.00. Following the transaction, the vice president now directly owns 24,056 shares in the company, valued at $1,052,450. This represents a 30.39 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on OLN. BMO Capital Markets reduced their target price on Olin from $50.00 to $47.00 and set a “market perform” rating on the stock in a report on Tuesday, October 29th. Barclays reduced their price objective on Olin from $49.00 to $45.00 and set an “equal weight” rating on the stock in a research note on Monday, October 28th. Wells Fargo & Company decreased their target price on Olin from $48.00 to $44.00 and set an “equal weight” rating for the company in a report on Monday, October 28th. Piper Sandler cut their price target on shares of Olin from $57.00 to $51.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Finally, KeyCorp decreased their price objective on shares of Olin from $57.00 to $56.00 and set an “overweight” rating for the company in a research note on Monday, October 28th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $51.86.

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.