UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Cuts Holdings in Olin Co. (NYSE:OLN)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its position in Olin Co. (NYSE:OLN) by 5.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 267,506 shares of the specialty chemicals company’s stock after selling 16,630 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.23% of Olin worth $12,835,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its holdings in 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 buying an additional 194,755 shares in the last quarter. Pzena Investment Management LLC lifted its holdings in Olin by 24.8% during the third quarter. Pzena Investment Management LLC now owns 3,452,708 shares of the specialty chemicals company’s stock valued at $165,661,000 after purchasing an additional 685,710 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Olin by 2.5% during the second quarter. Bank of New York Mellon Corp now owns 1,373,519 shares of the specialty chemicals company’s stock valued at $64,761,000 after purchasing an additional 33,143 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Olin by 2.9% during the third 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 purchasing an additional 37,043 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in 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 purchasing an additional 25,163 shares in the last quarter. Hedge funds and other institutional investors own 88.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Royal Bank of Canada decreased their price objective on shares of Olin from $52.00 to $48.00 and set an “outperform” rating on the stock in a report on Tuesday, October 29th. KeyCorp decreased their price objective on shares of Olin from $57.00 to $56.00 and set an “overweight” rating on the stock in a report on Monday, October 28th. 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 report on Monday, October 28th. Barclays dropped their target price on shares of Olin from $49.00 to $45.00 and set an “equal weight” rating for the company in a report on Monday, October 28th. Finally, 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 report on Tuesday, October 29th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Olin presently has an average rating of “Hold” and an average target price of $51.86.

Olin Stock Up 0.6 %

NYSE OLN opened at $41.27 on Friday. Olin Co. has a 52 week low of $39.47 and a 52 week high of $60.60. The company has a quick ratio of 0.82, a current ratio of 1.40 and a debt-to-equity ratio of 1.32. The business’s fifty day simple moving average is $43.94 and its 200-day simple moving average is $45.53. The firm has a market cap of $4.81 billion, a PE ratio of 33.28, a P/E/G ratio of 1.69 and a beta of 1.43.

Olin Dividend Announcement

The firm 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 1.94%. The ex-dividend date is Thursday, November 14th. Olin’s dividend payout ratio is presently 64.52%.

Insider Transactions at Olin

In other news, VP R Nichole Sumner sold 10,500 shares of the 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 approximately $1,052,450. This represents a 30.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.60% of the company’s stock.

Olin 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.