Swiss National Bank Sells 2,100 Shares of Olin Co. (NYSE:OLN)

Swiss National Bank cut its position in shares of Olin Co. (NYSE:OLN) by 0.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 233,232 shares of the specialty chemicals company’s stock after selling 2,100 shares during the quarter. Swiss National Bank owned 0.20% of Olin worth $11,190,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of OLN. Harbor Capital Advisors Inc. raised its holdings in shares of 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 last quarter. SG Americas Securities LLC increased its stake in Olin by 1,220.6% in the 2nd quarter. SG Americas Securities LLC now owns 50,050 shares of the specialty chemicals company’s stock valued at $2,360,000 after buying an additional 46,260 shares during the last quarter. LRI Investments LLC bought a new stake in Olin during the 1st quarter worth about $28,000. Magnetar Financial LLC acquired a new position in shares of Olin during the 2nd quarter worth about $2,350,000. Finally, 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. Institutional investors and hedge funds own 88.67% of the company’s stock.

Olin Price Performance

Olin stock opened at $42.87 on Friday. The company has a market capitalization of $5.00 billion, a price-to-earnings ratio of 34.57, a PEG ratio of 1.70 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 12 month low of $39.47 and a 12 month high of $60.60. The stock’s 50 day moving average is $44.51 and its 200-day moving average is $46.56.

Olin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Thursday, November 14th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.87%. The ex-dividend date is Thursday, November 14th. Olin’s payout ratio is 64.52%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on OLN shares. Bank of America cut Olin from a “buy” rating to a “neutral” rating and reduced their price target for the company from $62.00 to $51.00 in a research 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. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Olin from $57.00 to $48.00 and set a “hold” rating on the stock in a research report on Monday, July 29th. JPMorgan Chase & Co. raised shares of Olin from a “neutral” rating to an “overweight” rating and set a $55.00 price objective for the company in a research report on Monday, July 29th. Finally, KeyCorp lowered their price objective 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. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Olin currently has an average rating of “Hold” and a consensus target price of $51.86.

Insider Transactions at Olin

In other Olin news, VP R Nichole Sumner sold 10,500 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $43.75, for a total transaction of $459,375.00. Following the transaction, the vice president now 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 document filed with the SEC, which is available at this hyperlink. Insiders own 1.60% of the company’s stock.

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.