Olin Co. (NYSE:OLN) Shares Acquired by Captrust Financial Advisors

Captrust Financial Advisors lifted its stake in shares of Olin Co. (NYSE:OLN) by 14.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,998 shares of the specialty chemicals company’s stock after acquiring an additional 630 shares during the period. Captrust Financial Advisors’ holdings in Olin were worth $240,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Farther Finance Advisors LLC boosted its stake in Olin by 88.2% in the 3rd 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 acquired a new stake in Olin in the 2nd quarter worth about $33,000. Covestor Ltd raised its holdings in shares of Olin by 357.5% in 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 during the period. Capital Performance Advisors LLP purchased a new position in shares of Olin in the 3rd quarter worth about $47,000. Finally, Denver PWM LLC purchased a new position in shares of Olin in the 2nd quarter worth about $59,000. Institutional investors and hedge funds own 88.67% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on OLN shares. KeyCorp dropped their target price on Olin from $57.00 to $56.00 and set an “overweight” rating on the stock in a report on Monday, October 28th. Piper Sandler dropped their target price on Olin from $57.00 to $51.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Royal Bank of Canada dropped their target price on Olin from $52.00 to $48.00 and set an “outperform” rating on the stock in a report on Tuesday, October 29th. Wells Fargo & Company dropped their target price on Olin from $48.00 to $44.00 and set an “equal weight” rating on the stock in a report on Monday, October 28th. Finally, Barclays cut their target price on Olin from $45.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Friday. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $51.71.

Olin Price Performance

Shares of NYSE OLN opened at $37.31 on Monday. Olin Co. has a twelve month low of $36.56 and a twelve month 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. The company has a market capitalization of $4.35 billion, a price-to-earnings ratio of 30.09, a price-to-earnings-growth ratio of 1.54 and a beta of 1.43. The business has a 50 day simple moving average of $43.08 and a 200-day simple moving average of $45.00.

Olin Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Thursday, November 14th were issued a $0.20 dividend. The ex-dividend date 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 (DPR) is 64.52%.

Olin declared that its Board of Directors has approved a share buyback program on Thursday, December 12th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the specialty chemicals company to repurchase up to 45% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity

In related news, VP R Nichole Sumner sold 10,500 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $43.75, for a total transaction of $459,375.00. Following the completion of the transaction, the vice president now directly owns 24,056 shares in the company, valued at $1,052,450. This represents a 30.39 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.60% of the company’s stock.

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.