Raymond James & Associates Increases Stock Position in Olin Co. (NYSE:OLN)

Raymond James & Associates grew its stake in Olin Co. (NYSE:OLN) by 10.7% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 192,826 shares of the specialty chemicals company’s stock after acquiring an additional 18,606 shares during the period. Raymond James & Associates’ holdings in Olin were worth $9,252,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. Harbor Capital Advisors Inc. raised its position in Olin by 344.3% in the second quarter. Harbor Capital Advisors Inc. now owns 40,760 shares of the specialty chemicals company’s stock valued at $1,922,000 after purchasing an additional 31,587 shares during the period. SG Americas Securities LLC boosted its position in shares of Olin by 1,220.6% during the second quarter. SG Americas Securities LLC now owns 50,050 shares of the specialty chemicals company’s stock worth $2,360,000 after buying an additional 46,260 shares during the period. Clearbridge Investments LLC grew its stake in shares of Olin by 4.8% in the first quarter. Clearbridge Investments LLC now owns 777,658 shares of the specialty chemicals company’s stock valued at $45,726,000 after buying an additional 35,637 shares in the last quarter. LRI Investments LLC purchased a new stake in shares of Olin in the 1st quarter valued at $28,000. Finally, Seven Eight Capital LP lifted its stake in Olin by 111.4% during the 1st quarter. Seven Eight Capital LP now owns 20,416 shares of the specialty chemicals company’s stock worth $1,200,000 after acquiring an additional 10,760 shares in the last quarter. 88.67% of the stock is currently owned by institutional investors and hedge funds.

Olin Price Performance

Shares of NYSE OLN opened at $40.88 on Wednesday. The stock’s 50-day simple moving average is $44.76 and its 200-day simple moving average is $47.97. 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 firm has a market capitalization of $4.81 billion, a PE ratio of 32.97, a price-to-earnings-growth ratio of 1.01 and a beta of 1.41. Olin Co. has a fifty-two week low of $39.47 and a fifty-two week high of $60.60.

Olin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Thursday, November 14th will be given a dividend of $0.20 per share. The ex-dividend date is Thursday, November 14th. This represents a $0.80 annualized dividend and a dividend yield of 1.96%. Olin’s dividend payout ratio is presently 64.52%.

Analysts Set New Price Targets

A number of analysts have issued reports on OLN shares. Barclays cut their price target on shares of Olin from $49.00 to $45.00 and set an “equal weight” rating on the stock in a research note on Monday. UBS Group cut their target price on shares of Olin from $59.00 to $51.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 9th. Piper Sandler reduced their target price on shares of Olin from $75.00 to $57.00 and set an “overweight” rating on the stock in a report on Tuesday, July 30th. The Goldman Sachs Group dropped their price target on shares of Olin from $55.00 to $49.00 and set a “neutral” rating for the company in a research note on Monday, July 29th. Finally, Wells Fargo & Company reduced their price objective on Olin from $48.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Monday. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $51.33.

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.