Thrivent Financial for Lutherans Sells 1,250 Shares of Olin Co. (NYSE:OLN)

Thrivent Financial for Lutherans lessened its position in shares of Olin Co. (NYSE:OLN) by 4.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,604 shares of the specialty chemicals company’s stock after selling 1,250 shares during the period. Thrivent Financial for Lutherans’ holdings in Olin were worth $1,324,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. EverSource Wealth Advisors LLC raised its position 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 valued at $32,000 after buying an additional 525 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in 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 purchasing an additional 276 shares during the last quarter. nVerses Capital LLC bought a new position in Olin in the second quarter valued at $33,000. Covestor Ltd lifted its position in 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 buying an additional 715 shares in the last quarter. Finally, Capital Performance Advisors LLP acquired a new position in shares of Olin during the 3rd quarter worth about $47,000. Institutional investors and hedge funds own 88.67% of the company’s stock.

Olin Price Performance

Olin stock opened at $42.59 on Friday. The stock’s fifty day moving average price is $44.41 and its two-hundred day moving average price is $46.03. The firm has a market cap of $4.97 billion, a PE ratio of 34.35, a price-to-earnings-growth ratio of 1.73 and a beta of 1.43. 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 $39.47 and a one year high of $60.60.

Olin Announces Dividend

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

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on OLN shares. Wells Fargo & Company lowered their target price on Olin from $48.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Monday, October 28th. Royal Bank of Canada dropped their price target on shares of Olin from $52.00 to $48.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 29th. Mizuho assumed coverage on shares of Olin in a research report on Thursday, August 8th. They issued a “neutral” rating and a $45.00 price objective for the company. BMO Capital Markets reduced their price target on Olin from $50.00 to $47.00 and set a “market perform” rating for the company in a report on Tuesday, October 29th. Finally, Piper Sandler dropped their price objective on Olin from $57.00 to $51.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Olin presently has a consensus rating of “Hold” and an average price target of $51.86.

Insider Buying and Selling at Olin

In other news, VP R Nichole Sumner sold 10,500 shares of the business’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 owns 24,056 shares of the company’s stock, valued at approximately $1,052,450. The trade was a 30.39 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.60% of the company’s stock.

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.