Mirae Asset Global Investments Co. Ltd. Grows Position in Olin Co. (NYSE:OLN)

Mirae Asset Global Investments Co. Ltd. lifted its stake in Olin Co. (NYSE:OLN) by 26.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,534 shares of the specialty chemicals company’s stock after buying an additional 318 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Olin were worth $75,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in OLN. LRI Investments LLC purchased a new position in shares of Olin in the first quarter valued at about $28,000. EverSource Wealth Advisors LLC boosted its position in shares of Olin by 4,375.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 537 shares of the specialty chemicals company’s stock valued at $32,000 after acquiring an additional 525 shares during the last quarter. nVerses Capital LLC bought a new position in Olin during the second quarter valued at $33,000. Denver PWM LLC purchased a new stake in Olin during the second quarter valued at approximately $59,000. Finally, Mather Group LLC. lifted its stake in shares of Olin by 1,364.4% in the 2nd quarter. Mather Group LLC. now owns 1,274 shares of the specialty chemicals company’s stock valued at $60,000 after purchasing an additional 1,187 shares during the last quarter. 88.67% of the stock is currently owned by institutional investors.

Olin Trading Up 2.8 %

NYSE OLN opened at $41.99 on Tuesday. Olin Co. has a 52 week low of $39.47 and a 52 week high of $60.60. The company has a 50 day moving average price of $44.52 and a 200 day moving average price of $47.53. 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 firm has a market cap of $4.90 billion, a PE ratio of 33.86, a price-to-earnings-growth ratio of 1.66 and a beta of 1.43.

Olin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Thursday, November 14th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date of this dividend is Thursday, November 14th. Olin’s dividend payout ratio (DPR) is presently 64.52%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on OLN shares. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Olin from $57.00 to $48.00 and set a “hold” rating for the company in a research note on Monday, July 29th. BMO Capital Markets cut their price target on shares of Olin from $50.00 to $47.00 and set a “market perform” rating on the stock in a report on Tuesday, October 29th. Barclays decreased their price objective on shares of Olin from $49.00 to $45.00 and set an “equal weight” rating for the company in a report on Monday, October 28th. The Goldman Sachs Group decreased their price target on shares of Olin from $55.00 to $49.00 and set a “neutral” rating for the company in a research note on Monday, July 29th. Finally, Piper Sandler reduced their price objective on Olin from $57.00 to $51.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $51.86.

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.