Cerity Partners LLC Raises Stock Holdings in Olin Co. (NYSE:OLN)

Cerity Partners LLC increased its position in shares of Olin Co. (NYSE:OLN) by 116.7% during the 3rd quarter, Holdings Channel reports. The firm owned 115,779 shares of the specialty chemicals company’s stock after acquiring an additional 62,352 shares during the period. Cerity Partners LLC’s holdings in Olin were worth $5,555,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its position in shares of Olin by 5.5% in the second quarter. Dimensional Fund Advisors LP now owns 3,741,007 shares of the specialty chemicals company’s stock valued at $176,396,000 after acquiring an additional 194,755 shares in the last quarter. Pzena Investment Management LLC lifted its holdings in Olin by 24.8% in the 3rd quarter. Pzena Investment Management LLC now owns 3,452,708 shares of the specialty chemicals company’s stock worth $165,661,000 after purchasing an additional 685,710 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Olin by 2.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,373,519 shares of the specialty chemicals company’s stock worth $64,761,000 after purchasing an additional 33,143 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Olin by 2.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,295,699 shares of the specialty chemicals company’s stock valued at $62,168,000 after buying an additional 37,043 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Olin by 2.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,061,001 shares of the specialty chemicals company’s stock valued at $50,907,000 after buying an additional 25,163 shares during the last quarter. Institutional investors own 88.67% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Wells Fargo & Company dropped 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 report on Monday, October 28th. Piper Sandler cut their price objective on Olin from $57.00 to $51.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. BMO Capital Markets decreased their target price on Olin from $50.00 to $47.00 and set a “market perform” rating on the stock in a research report on Tuesday, October 29th. Barclays cut their price target on Olin from $49.00 to $45.00 and set an “equal weight” rating for the company in a report on Monday, October 28th. Finally, Mizuho began coverage on Olin in a report on Thursday, August 8th. They set a “neutral” rating and a $45.00 price objective on the stock. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $51.86.

Olin Stock Up 1.5 %

Shares of NYSE OLN opened at $42.70 on Friday. Olin Co. has a 1 year low of $39.47 and a 1 year high of $60.60. The firm has a 50-day simple moving average of $44.44 and a two-hundred day simple moving average of $46.20. The company has a market cap of $4.98 billion, a P/E ratio of 34.44, a PEG ratio of 1.76 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 Dividend Announcement

The firm also recently disclosed 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 1.87%. The ex-dividend date is Thursday, November 14th. Olin’s payout ratio is currently 64.52%.

Insider Buying and Selling at Olin

In other news, VP R Nichole Sumner sold 10,500 shares of the business’s stock in a transaction 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 completion of the sale, the vice president now directly owns 24,056 shares of the company’s stock, valued at approximately $1,052,450. The trade was a 30.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.60% of the stock is currently owned by corporate insiders.

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.