Stifel Financial Corp Has $5.07 Million Position in Olin Co. (NYSE:OLN)

Stifel Financial Corp cut its holdings in Olin Co. (NYSE:OLN) by 23.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 105,759 shares of the specialty chemicals company’s stock after selling 32,517 shares during the period. Stifel Financial Corp owned 0.09% of Olin worth $5,074,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in OLN. Farther Finance Advisors LLC lifted its holdings in shares of Olin by 88.2% during the third 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 last quarter. nVerses Capital LLC bought a new position in Olin during the second quarter worth $33,000. Covestor Ltd boosted its holdings in Olin by 357.5% in the 3rd quarter. Covestor Ltd now owns 915 shares of the specialty chemicals company’s stock valued at $44,000 after purchasing an additional 715 shares during the period. Capital Performance Advisors LLP acquired a new stake in Olin in the 3rd quarter worth $47,000. Finally, Denver PWM LLC bought a new position in shares of Olin during the 2nd quarter worth about $59,000. Institutional investors own 88.67% of the company’s stock.

Wall Street Analysts Forecast Growth

OLN has been the subject of several research reports. BMO Capital Markets reduced their target price on shares of Olin from $50.00 to $47.00 and set a “market perform” rating for the company in a research note on Tuesday, October 29th. KeyCorp lowered their price objective on Olin from $57.00 to $56.00 and set an “overweight” rating on the stock in a research report on Monday, October 28th. Piper Sandler decreased their price target on shares of Olin from $57.00 to $51.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Barclays dropped their price objective on shares of Olin from $45.00 to $43.00 and set an “equal weight” rating for the company in a research note on Friday. Finally, Wells Fargo & Company decreased their target price on shares of Olin from $48.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Monday, October 28th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $51.71.

Olin Stock Down 2.0 %

NYSE OLN opened at $37.31 on Friday. The stock’s 50 day simple moving average is $43.08 and its 200 day simple moving average is $45.00. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.40 and a quick ratio of 0.82. Olin Co. has a one year low of $36.56 and a one year high of $60.60. The firm has a market cap of $4.35 billion, a PE ratio of 30.09, a price-to-earnings-growth ratio of 1.54 and a beta of 1.43.

Olin Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Thursday, November 14th were issued a $0.20 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.14%. Olin’s dividend payout ratio is 64.52%.

Olin declared that its board has initiated a share repurchase plan on Thursday, December 12th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the specialty chemicals company to repurchase up to 45% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In related news, VP R Nichole Sumner sold 10,500 shares of the firm’s stock in a transaction that occurred 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 sale, the vice president now owns 24,056 shares of the company’s stock, valued at $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 is available at the SEC website. 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.