Olin Co. (NYSE:OLN) Shares Sold by Sanctuary Advisors LLC

Sanctuary Advisors LLC reduced its stake in shares of Olin Co. (NYSE:OLN) by 89.2% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 5,685 shares of the specialty chemicals company’s stock after selling 47,048 shares during the period. Sanctuary Advisors LLC’s holdings in Olin were worth $273,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Farther Finance Advisors LLC lifted its stake in shares of Olin by 88.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 589 shares of the specialty chemicals company’s stock valued at $28,000 after purchasing an additional 276 shares during the period. nVerses Capital LLC acquired a new position in shares of Olin in the second quarter worth about $33,000. Covestor Ltd boosted its stake 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 acquiring an additional 715 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Olin during the 3rd quarter valued at about $47,000. Finally, Denver PWM LLC purchased a new position in shares of Olin in the 2nd quarter valued at about $59,000. Hedge funds and other institutional investors own 88.67% of the company’s stock.

Insider Buying and Selling at Olin

In other news, VP R Nichole Sumner sold 10,500 shares of Olin stock in a transaction that occurred 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 sale, 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 can be accessed through this link. 1.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have commented on OLN. Barclays dropped their price objective on Olin from $45.00 to $43.00 and set an “equal weight” rating on the stock in a report on Friday, December 13th. Citigroup cut their price target on shares of Olin from $48.00 to $45.00 and set a “buy” rating for the company in a report on Monday, December 16th. Wells Fargo & Company decreased their price objective on shares of Olin from $48.00 to $44.00 and set an “equal weight” rating on the stock in a report on Monday, October 28th. Royal Bank of Canada cut their target price on shares of Olin from $52.00 to $48.00 and set an “outperform” rating for the company in a research note on Tuesday, October 29th. Finally, BMO Capital Markets decreased 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 note on Tuesday, October 29th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Olin presently has an average rating of “Hold” and a consensus price target of $50.14.

Olin Stock Up 0.9 %

Shares of NYSE:OLN opened at $33.77 on Friday. Olin Co. has a 52-week low of $32.90 and a 52-week high of $60.60. The company has a quick ratio of 0.82, a current ratio of 1.40 and a debt-to-equity ratio of 1.32. The business has a fifty day moving average of $40.44 and a two-hundred day moving average of $43.78. The stock has a market cap of $3.94 billion, a P/E ratio of 27.23, a PEG ratio of 1.51 and a beta of 1.43.

Olin announced that its board has approved a share buyback plan on Thursday, December 12th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the specialty chemicals company to buy up to 45% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Olin Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Thursday, November 14th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date was Thursday, November 14th. Olin’s dividend payout ratio (DPR) is presently 64.52%.

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.