Covestor Ltd Has $44,000 Stock Holdings in Olin Co. (NYSE:OLN)

Covestor Ltd grew its position in shares of Olin Co. (NYSE:OLN) by 357.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 915 shares of the specialty chemicals company’s stock after acquiring an additional 715 shares during the quarter. Covestor Ltd’s holdings in Olin were worth $44,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of OLN. OLD National Bancorp IN increased its position in Olin by 4.2% during the 2nd quarter. OLD National Bancorp IN now owns 6,343 shares of the specialty chemicals company’s stock worth $299,000 after buying an additional 253 shares during the period. Farther Finance Advisors LLC increased its position in Olin by 88.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 589 shares of the specialty chemicals company’s stock worth $28,000 after buying an additional 276 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in Olin by 26.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,534 shares of the specialty chemicals company’s stock worth $75,000 after buying an additional 318 shares during the period. Scott & Selber Inc. increased its position in Olin by 1.7% during the 2nd quarter. Scott & Selber Inc. now owns 19,206 shares of the specialty chemicals company’s stock worth $906,000 after buying an additional 326 shares during the period. Finally, Nisa Investment Advisors LLC increased its position in Olin by 3.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 11,830 shares of the specialty chemicals company’s stock worth $568,000 after buying an additional 350 shares during the period. Institutional investors and hedge funds own 88.67% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on OLN. Bank of America cut Olin from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $62.00 to $51.00 in a research report on Monday, July 29th. Royal Bank of Canada decreased their price target on Olin from $52.00 to $48.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 29th. The Goldman Sachs Group decreased their price target on Olin from $55.00 to $49.00 and set a “neutral” rating on the stock in a research report on Monday, July 29th. KeyCorp reduced their price objective on Olin from $57.00 to $56.00 and set an “overweight” rating on the stock in a research note on Monday, October 28th. Finally, BMO Capital Markets reduced their price objective on Olin from $50.00 to $47.00 and set a “market perform” rating on the stock in a research note on Tuesday, October 29th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $51.86.

Olin Stock Performance

Shares of OLN stock opened at $41.37 on Friday. Olin Co. has a 12 month low of $39.47 and a 12 month high of $60.60. The company has a current ratio of 1.40, a quick ratio of 0.82 and a debt-to-equity ratio of 1.32. The firm has a market capitalization of $4.82 billion, a price-to-earnings ratio of 33.36, a PEG ratio of 1.74 and a beta of 1.43. The business’s 50-day moving average price is $44.50 and its 200-day moving average price is $47.04.

Olin Dividend Announcement

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

Insider Transactions at Olin

In other Olin news, VP R Nichole Sumner sold 10,500 shares of Olin stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $43.75, for a total value of $459,375.00. Following the completion of the sale, the vice president now directly owns 24,056 shares in the company, 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 SEC, which can be accessed through this hyperlink. 1.60% of the stock is owned by corporate insiders.

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.