Crossmark Global Holdings Inc. Has $335,000 Position in Olin Co. (NYSE:OLN)

Crossmark Global Holdings Inc. lessened its position in Olin Co. (NYSE:OLN) by 3.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,999 shares of the specialty chemicals company’s stock after selling 249 shares during the period. Crossmark Global Holdings Inc.’s holdings in Olin were worth $335,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of OLN. OLD National Bancorp IN lifted its position in shares of Olin by 4.2% in the second quarter. OLD National Bancorp IN now owns 6,343 shares of the specialty chemicals company’s stock valued at $299,000 after buying an additional 253 shares during the last quarter. Farther Finance Advisors LLC boosted its position in Olin by 88.2% during the third quarter. Farther Finance Advisors LLC now owns 589 shares of the specialty chemicals company’s stock worth $28,000 after purchasing an additional 276 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Olin by 26.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,534 shares of the specialty chemicals company’s stock valued at $75,000 after purchasing an additional 318 shares during the last quarter. Scott & Selber Inc. increased its holdings in shares of Olin by 1.7% in the second quarter. Scott & Selber Inc. now owns 19,206 shares of the specialty chemicals company’s stock valued at $906,000 after purchasing an additional 326 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its position in shares of Olin by 3.0% in the third quarter. Nisa Investment Advisors LLC now owns 11,830 shares of the specialty chemicals company’s stock valued at $568,000 after purchasing an additional 350 shares during the period. 88.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently commented on OLN. KeyCorp decreased their price target on shares of Olin from $57.00 to $56.00 and set an “overweight” rating on the stock in a research note on Monday, October 28th. Mizuho initiated coverage on Olin in a research report on Thursday, August 8th. They issued a “neutral” rating and a $45.00 target price on the stock. Barclays lowered their target price 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. Wells Fargo & Company reduced their price target on 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, Deutsche Bank Aktiengesellschaft lowered their price objective on Olin from $57.00 to $48.00 and set a “hold” rating on the stock in a research report on Monday, July 29th. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $51.86.

Olin Stock Down 1.0 %

OLN stock opened at $41.39 on Monday. The company has a market cap of $4.83 billion, a PE ratio of 33.38, a price-to-earnings-growth ratio of 1.68 and a beta of 1.43. The company has a quick ratio of 0.82, a current ratio of 1.40 and a debt-to-equity ratio of 1.32. Olin Co. has a 52 week low of $39.47 and a 52 week high of $60.60. The business has a 50-day simple moving average of $44.50 and a 200 day simple moving average of $46.92.

Olin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders 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 dividend yield of 1.93%. The ex-dividend date of this dividend is Thursday, November 14th. Olin’s dividend payout ratio (DPR) is presently 64.52%.

Insider Buying and Selling

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 sale, 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 link. 1.60% of the stock is currently owned by company 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.