Farther Finance Advisors LLC Grows Stake in Olin Co. (NYSE:OLN)

Farther Finance Advisors LLC increased its holdings in Olin Co. (NYSE:OLN) by 88.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 589 shares of the specialty chemicals company’s stock after purchasing an additional 276 shares during the period. Farther Finance Advisors LLC’s holdings in Olin were worth $28,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. LRI Investments LLC bought a new position in Olin in the 1st quarter worth about $28,000. EverSource Wealth Advisors LLC boosted its stake 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 buying an additional 525 shares during the last quarter. nVerses Capital LLC acquired a new position in Olin in the 2nd quarter worth about $33,000. Denver PWM LLC acquired a new position in shares of Olin during the 2nd quarter worth approximately $59,000. Finally, Mather Group LLC. raised its holdings in shares of Olin by 1,364.4% during the second quarter. Mather Group LLC. now owns 1,274 shares of the specialty chemicals company’s stock valued at $60,000 after acquiring an additional 1,187 shares during the last quarter. Hedge funds and other institutional investors own 88.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Piper Sandler lowered their price objective on Olin from $57.00 to $51.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Mizuho initiated coverage on Olin in a research report on Thursday, August 8th. They set a “neutral” rating and a $45.00 price objective for the company. Deutsche Bank Aktiengesellschaft dropped their price objective on Olin from $57.00 to $48.00 and set a “hold” rating on the stock in a report on Monday, July 29th. Wells Fargo & Company decreased their target price on shares of Olin from $48.00 to $44.00 and set an “equal weight” rating for the company in a research note on Monday, October 28th. Finally, Barclays decreased their price target 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. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Olin currently has a consensus rating of “Hold” and an average price target of $51.86.

Olin Trading Down 1.1 %

Shares of OLN opened at $41.37 on Friday. The stock has a market cap of $4.82 billion, a PE ratio of 33.38, a P/E/G ratio of 1.74 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 12 month low of $39.47 and a 12 month high of $60.60. The stock’s 50-day moving average is $44.50 and its two-hundred day moving average is $47.04.

Olin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Thursday, November 14th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date is Thursday, November 14th. Olin’s payout ratio is 64.52%.

Insider Buying and Selling at Olin

In related news, VP R Nichole Sumner sold 10,500 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $43.75, for a total transaction of $459,375.00. Following the completion of 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.60% of the stock is currently owned by corporate insiders.

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.