Raymond James Trust N.A. Acquires New Position in Olin Co. (NYSE:OLN)

Raymond James Trust N.A. bought a new position in shares of Olin Co. (NYSE:OLN) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 4,415 shares of the specialty chemicals company’s stock, valued at approximately $212,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Harbor Capital Advisors Inc. boosted its holdings in shares of Olin by 344.3% in the second quarter. Harbor Capital Advisors Inc. now owns 40,760 shares of the specialty chemicals company’s stock valued at $1,922,000 after buying an additional 31,587 shares during the period. SG Americas Securities LLC boosted its position in Olin by 1,220.6% during the second quarter. SG Americas Securities LLC now owns 50,050 shares of the specialty chemicals company’s stock worth $2,360,000 after purchasing an additional 46,260 shares during the period. Segall Bryant & Hamill LLC acquired a new stake in Olin during the third quarter worth approximately $916,000. Magnetar Financial LLC bought a new stake in Olin in the 2nd quarter valued at $2,350,000. Finally, Canada Pension Plan Investment Board grew its stake in shares of Olin by 846.7% in the second quarter. Canada Pension Plan Investment Board now owns 14,200 shares of the specialty chemicals company’s stock valued at $670,000 after acquiring an additional 12,700 shares in the last quarter. Institutional investors own 88.67% of the company’s stock.

Olin Stock Performance

OLN stock opened at $42.70 on Friday. The business has a 50 day moving average of $44.44 and a 200-day moving average of $46.20. The company has a quick ratio of 0.82, a current ratio of 1.40 and a debt-to-equity ratio of 1.32. Olin Co. has a 12-month low of $39.47 and a 12-month high of $60.60. The firm has a market cap of $4.98 billion, a PE ratio of 34.44, a P/E/G ratio of 1.76 and a beta of 1.43.

Olin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors 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 annualized dividend and a yield of 1.87%. Olin’s payout ratio is currently 64.52%.

Insider Buying and Selling

In other news, VP R Nichole Sumner sold 10,500 shares of Olin stock in a transaction dated 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 in the company, valued at $1,052,450. This trade represents a 30.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on OLN. Barclays dropped their price objective on Olin from $49.00 to $45.00 and set an “equal weight” rating for the company in a report on Monday, October 28th. 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 report on Monday, October 28th. Mizuho assumed coverage on Olin in a research note on Thursday, August 8th. They issued a “neutral” rating and a $45.00 price objective on the stock. BMO Capital Markets cut their price target on shares of Olin from $50.00 to $47.00 and set a “market perform” rating on the stock in a research report on Tuesday, October 29th. Finally, KeyCorp reduced their price objective on shares of Olin from $57.00 to $56.00 and set an “overweight” rating for the company in a research report 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 data from MarketBeat.com, the company presently 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.