Principal Financial Group Inc. Has $13.06 Million Stake in Olin Co. (NYSE:OLN)

Principal Financial Group Inc. reduced its position in shares of Olin Co. (NYSE:OLN) by 31.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 272,252 shares of the specialty chemicals company’s stock after selling 125,426 shares during the quarter. Principal Financial Group Inc.’s holdings in Olin were worth $13,063,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in OLN. Boston Partners increased its position in Olin by 7.7% during the 1st quarter. Boston Partners now owns 5,414,265 shares of the specialty chemicals company’s stock worth $317,897,000 after buying an additional 384,888 shares during the period. Dimensional Fund Advisors LP increased its position in Olin by 5.5% during the second quarter. Dimensional Fund Advisors LP now owns 3,741,007 shares of the specialty chemicals company’s stock worth $176,396,000 after acquiring an additional 194,755 shares during the period. Bank of New York Mellon Corp raised 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 in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Olin by 2.4% in the 3rd 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 during the period. Finally, Clearbridge Investments LLC grew its position in shares of Olin by 4.8% during the 1st quarter. Clearbridge Investments LLC now owns 777,658 shares of the specialty chemicals company’s stock worth $45,726,000 after purchasing an additional 35,637 shares in the last quarter. 88.67% of the stock is currently owned by institutional investors.

Olin Trading Down 1.0 %

Shares of Olin stock opened at $41.39 on Friday. The firm’s 50 day moving average is $44.50 and its 200 day moving average is $46.96. The firm has a market capitalization of $4.83 billion, a PE ratio of 33.38, a price-to-earnings-growth ratio of 1.74 and a beta of 1.43. Olin Co. has a 1 year low of $39.47 and a 1 year 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.

Olin Dividend Announcement

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

Insider Transactions at Olin

In other news, VP R Nichole Sumner sold 10,500 shares of Olin stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $43.75, for a total transaction of $459,375.00. Following the sale, the vice president now directly owns 24,056 shares of the company’s stock, valued at approximately $1,052,450. This trade represents 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 the SEC website. Company insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on OLN shares. The Goldman Sachs Group cut their price target on Olin from $55.00 to $49.00 and set a “neutral” rating for the company in a research note on Monday, July 29th. JPMorgan Chase & Co. upgraded Olin from a “neutral” rating to an “overweight” rating and set a $55.00 target price for the company in a research report on Monday, July 29th. Wells Fargo & Company decreased their price target on Olin from $48.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Monday, October 28th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Olin from $57.00 to $48.00 and set a “hold” rating for the company in a research report on Monday, July 29th. Finally, BMO Capital Markets decreased their target price on shares of Olin from $50.00 to $47.00 and set a “market perform” rating on the stock 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. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $51.86.

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.