BNP Paribas Financial Markets Sells 46,265 Shares of Olin Co. (NYSE:OLN)

BNP Paribas Financial Markets lowered its holdings in shares of Olin Co. (NYSE:OLN) by 16.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 241,470 shares of the specialty chemicals company’s stock after selling 46,265 shares during the period. BNP Paribas Financial Markets’ holdings in Olin were worth $11,586,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Farther Finance Advisors LLC increased 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 acquiring an additional 276 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings 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 purchasing an additional 525 shares during the period. nVerses Capital LLC bought a new stake in Olin in the second quarter valued at $33,000. Covestor Ltd raised its holdings in shares of Olin by 357.5% during the third quarter. Covestor Ltd now owns 915 shares of the specialty chemicals company’s stock valued at $44,000 after purchasing an additional 715 shares during the period. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Olin in the 3rd quarter valued at about $47,000. 88.67% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

OLN has been the topic of a number of research reports. Wells Fargo & Company dropped their price target on Olin from $48.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Monday, October 28th. Mizuho assumed coverage on Olin in a report on Thursday, August 8th. They issued a “neutral” rating and a $45.00 target price on the stock. BMO Capital Markets decreased their price target on shares of Olin from $50.00 to $47.00 and set a “market perform” rating for the company in a research note on Tuesday, October 29th. Royal Bank of Canada dropped their price objective on shares of Olin from $52.00 to $48.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 29th. Finally, KeyCorp decreased their target price on shares of Olin from $57.00 to $56.00 and set an “overweight” rating for the company in a research report on Monday, October 28th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $51.86.

Olin Stock Performance

Shares of Olin stock opened at $42.59 on Monday. The firm has a market capitalization of $4.97 billion, a P/E ratio of 34.35, a price-to-earnings-growth ratio of 1.72 and a beta of 1.43. The company has a current ratio of 1.40, a quick ratio of 0.82 and a debt-to-equity ratio of 1.32. The business’s fifty day simple moving average is $44.41 and its 200 day simple moving average is $45.96. Olin Co. has a 12 month low of $39.47 and a 12 month high of $60.60.

Olin Announces Dividend

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

Insider Activity 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 shares were sold at an average price of $43.75, for a total value of $459,375.00. Following the sale, the vice president now owns 24,056 shares of the company’s stock, valued at approximately $1,052,450. The trade was a 30.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.60% of the stock is owned by company insiders.

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.