Stifel Financial Corp Has $5.07 Million Stake in Olin Co. (NYSE:OLN)

Stifel Financial Corp decreased its position in Olin Co. (NYSE:OLN) by 23.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 105,759 shares of the specialty chemicals company’s stock after selling 32,517 shares during the period. Stifel Financial Corp’s holdings in Olin were worth $5,074,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Segall Bryant & Hamill LLC bought a new stake in Olin during the 3rd quarter worth approximately $916,000. Charles Schwab Investment Management Inc. boosted its position in Olin by 2.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,295,699 shares of the specialty chemicals company’s stock worth $62,168,000 after acquiring an additional 37,043 shares during the last quarter. Magnetar Financial LLC bought a new position in Olin in the second quarter valued at $2,350,000. Canada Pension Plan Investment Board grew its holdings in shares of Olin by 846.7% in the 2nd quarter. Canada Pension Plan Investment Board now owns 14,200 shares of the specialty chemicals company’s stock valued at $670,000 after acquiring an additional 12,700 shares in the last quarter. Finally, Wedge Capital Management L L P NC grew its stake in Olin by 36.6% in the third quarter. Wedge Capital Management L L P NC now owns 50,613 shares of the specialty chemicals company’s stock valued at $2,428,000 after purchasing an additional 13,557 shares in the last quarter. 88.67% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Olin 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 transaction, the vice president now 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 legal filing with the SEC, which is available at this link. 1.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

OLN has been the subject of a number of analyst reports. BMO Capital Markets decreased their price objective on shares of Olin from $50.00 to $47.00 and set a “market perform” rating for the company in a research report on Tuesday, October 29th. Wells Fargo & Company decreased their target price on Olin from $48.00 to $44.00 and set an “equal weight” rating on the stock in a report on Monday, October 28th. Royal Bank of Canada reduced their price objective on shares of Olin from $52.00 to $48.00 and set an “outperform” rating for the company in a research report on Tuesday, October 29th. Piper Sandler cut their target price on shares of Olin from $57.00 to $51.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Finally, Barclays decreased their price target on shares of Olin from $45.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Friday. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $51.71.

Olin Price Performance

Shares of NYSE OLN opened at $37.31 on Friday. The business has a fifty day moving average price of $43.08 and a two-hundred day moving average price 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. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.40 and a quick ratio of 0.82. Olin Co. has a fifty-two week low of $36.56 and a fifty-two week high of $60.60.

Olin declared that its Board of Directors has initiated a stock repurchase 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 usually a sign that the company’s board believes its shares are undervalued.

Olin Dividend Announcement

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