Olin Co. (NYSE:OLN) Shares Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. increased its position in shares of Olin Co. (NYSE:OLN) by 26.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 1,534 shares of the specialty chemicals company’s stock after acquiring an additional 318 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Olin were worth $75,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in OLN. LRI Investments LLC acquired a new stake in shares of Olin during the first quarter worth about $28,000. EverSource Wealth Advisors LLC boosted its stake in Olin by 4,375.0% during the 1st 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 purchased a new position in shares of Olin during the second quarter worth about $33,000. Headlands Technologies LLC acquired a new position in shares of Olin in the first quarter valued at approximately $69,000. Finally, Denver PWM LLC acquired a new position in Olin in the 2nd quarter valued at $59,000. Hedge funds and other institutional investors own 88.67% of the company’s stock.

Olin Price Performance

NYSE OLN opened at $41.99 on Tuesday. The company has a market cap of $4.90 billion, a P/E ratio of 33.86, a P/E/G ratio of 1.66 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. Olin Co. has a 1 year low of $39.47 and a 1 year high of $60.60. The company has a fifty day simple moving average of $44.52 and a 200 day simple moving average of $47.53.

Olin Dividend Announcement

The company also recently announced 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. This represents a $0.80 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date is Thursday, November 14th. Olin’s dividend payout ratio (DPR) is presently 64.52%.

Analyst Ratings Changes

Several research analysts have issued reports on OLN shares. Wells Fargo & Company cut their price objective on Olin from $48.00 to $44.00 and set an “equal weight” rating for the company in a research report on Monday, October 28th. JPMorgan Chase & Co. upgraded shares of Olin from a “neutral” rating to an “overweight” rating and set a $55.00 target price for the company in a report on Monday, July 29th. BMO Capital Markets dropped their target price 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. UBS Group reduced their price objective on Olin from $59.00 to $51.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 9th. Finally, Bank of America downgraded shares of Olin from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $62.00 to $51.00 in a research report on Monday, July 29th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price 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.