BNP Paribas Financial Markets Has $11.59 Million Position in Olin Co. (NYSE:OLN)

BNP Paribas Financial Markets cut its position in Olin Co. (NYSE:OLN) by 16.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 241,470 shares of the specialty chemicals company’s stock after selling 46,265 shares during the quarter. BNP Paribas Financial Markets owned about 0.21% of Olin worth $11,586,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in OLN. Farther Finance Advisors LLC boosted its position in shares of Olin by 88.2% in the third quarter. Farther Finance Advisors LLC now owns 589 shares of the specialty chemicals company’s stock valued at $28,000 after acquiring an additional 276 shares during the period. EverSource Wealth Advisors LLC raised its stake in Olin by 4,375.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 537 shares of the specialty chemicals company’s stock worth $32,000 after purchasing an additional 525 shares in the last quarter. nVerses Capital LLC bought a new stake in Olin in the 2nd quarter valued at about $33,000. Covestor Ltd grew its position in shares of Olin by 357.5% during the 3rd quarter. Covestor Ltd now owns 915 shares of the specialty chemicals company’s stock worth $44,000 after purchasing an additional 715 shares in the last quarter. Finally, Capital Performance Advisors LLP bought a new position in shares of Olin during the third quarter worth approximately $47,000. 88.67% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. BMO Capital Markets reduced their price target on Olin from $50.00 to $47.00 and set a “market perform” rating on the stock in a research report on Tuesday, October 29th. Barclays reduced their target price on Olin from $49.00 to $45.00 and set an “equal weight” rating on the stock in a report on Monday, October 28th. Royal Bank of Canada dropped their price target on Olin from $52.00 to $48.00 and set an “outperform” rating for the company in a research note on Tuesday, October 29th. Wells Fargo & Company reduced their price objective on shares of Olin from $48.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Monday, October 28th. Finally, 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 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. Based on data from MarketBeat, Olin has an average rating of “Hold” and a consensus price target of $51.86.

Olin Stock Down 0.3 %

Shares of OLN opened at $42.59 on Monday. 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 Co. has a 52 week low of $39.47 and a 52 week high of $60.60. The stock has a market capitalization of $4.97 billion, a price-to-earnings ratio of 34.35, a PEG ratio of 1.72 and a beta of 1.43. The stock has a fifty day moving average of $44.41 and a 200-day moving average of $45.96.

Olin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Thursday, November 14th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend is Thursday, November 14th. Olin’s payout ratio is 64.52%.

Insider Transactions at Olin

In other 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 transaction of $459,375.00. Following the transaction, the vice president now 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 Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.60% of the company’s stock.

Olin Company 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.