Mutual of America Capital Management LLC Reduces Stock Position in Olin Co. (NYSE:OLN)

Mutual of America Capital Management LLC lowered its position in Olin Co. (NYSE:OLN) by 7.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,505 shares of the specialty chemicals company’s stock after selling 4,870 shares during the period. Mutual of America Capital Management LLC owned approximately 0.05% of Olin worth $3,047,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of OLN. Empowered Funds LLC raised its position in shares of Olin by 126.9% during the 3rd quarter. Empowered Funds LLC now owns 20,498 shares of the specialty chemicals company’s stock worth $983,000 after purchasing an additional 11,466 shares during the last quarter. Connable Office Inc. increased its position in Olin by 22.9% during the third quarter. Connable Office Inc. now owns 5,680 shares of the specialty chemicals company’s stock worth $273,000 after buying an additional 1,057 shares in the last quarter. Entropy Technologies LP raised its holdings in shares of Olin by 2.5% in the third quarter. Entropy Technologies LP now owns 13,499 shares of the specialty chemicals company’s stock worth $648,000 after acquiring an additional 332 shares during the last quarter. Versor Investments LP lifted its position in shares of Olin by 72.0% in the third quarter. Versor Investments LP now owns 19,348 shares of the specialty chemicals company’s stock valued at $928,000 after acquiring an additional 8,100 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D boosted its stake in shares of Olin by 16.9% during the third quarter. State of New Jersey Common Pension Fund D now owns 44,695 shares of the specialty chemicals company’s stock valued at $2,144,000 after acquiring an additional 6,466 shares during the last quarter. Institutional investors and hedge funds own 88.67% of the company’s stock.

Olin Stock Performance

Shares of Olin stock opened at $42.87 on Friday. The firm has a market cap of $5.00 billion, a PE ratio of 34.57, a price-to-earnings-growth ratio of 1.66 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 firm’s 50-day simple moving average is $44.51 and its 200-day simple moving average is $46.64. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.82 and a current ratio of 1.40.

Olin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders 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 dividend payout ratio is presently 64.52%.

Insider Transactions at Olin

In other Olin news, VP R Nichole Sumner sold 10,500 shares of Olin stock in a transaction on Friday, November 8th. The shares were sold at an average price of $43.75, for a total value of $459,375.00. Following the completion of the transaction, the vice president now owns 24,056 shares of the company’s stock, valued at $1,052,450. The trade was a 30.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on OLN shares. KeyCorp decreased their target price on shares of Olin from $57.00 to $56.00 and set an “overweight” rating on the stock in a research report on Monday, October 28th. Deutsche Bank Aktiengesellschaft decreased their price objective on Olin from $57.00 to $48.00 and set a “hold” rating on the stock in a report on Monday, July 29th. BMO Capital Markets lowered their price objective on Olin from $50.00 to $47.00 and set a “market perform” rating for the company in a research report on Tuesday, October 29th. Barclays decreased their price target on Olin from $49.00 to $45.00 and set an “equal weight” rating on the stock in a research note on Monday, October 28th. Finally, Wells Fargo & Company dropped their price objective 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. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $51.86.

About Olin

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.