Farther Finance Advisors LLC Grows Holdings in Olin Co. (NYSE:OLN)

Farther Finance Advisors LLC increased its holdings in Olin Co. (NYSE:OLN) by 88.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 589 shares of the specialty chemicals company’s stock after purchasing an additional 276 shares during the period. Farther Finance Advisors LLC’s holdings in Olin were worth $28,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. LRI Investments LLC bought a new position in Olin in the first quarter worth about $28,000. EverSource Wealth Advisors LLC grew its stake in shares of 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 in the last quarter. nVerses Capital LLC bought a new position in shares of Olin in the 2nd quarter valued at approximately $33,000. Denver PWM LLC acquired a new position in shares of Olin during the 2nd quarter worth about $59,000. Finally, Mather Group LLC. increased its holdings in shares of Olin by 1,364.4% during the 2nd quarter. Mather Group LLC. now owns 1,274 shares of the specialty chemicals company’s stock worth $60,000 after purchasing an additional 1,187 shares during the period. 88.67% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on OLN. Barclays cut their target price on Olin from $49.00 to $45.00 and set an “equal weight” rating for the company in a research report on Monday, October 28th. BMO Capital Markets dropped their price objective on Olin from $50.00 to $47.00 and set a “market perform” rating for the company in a report on Tuesday, October 29th. KeyCorp reduced their price target on Olin from $57.00 to $56.00 and set an “overweight” rating on the stock in a research report on Monday, October 28th. JPMorgan Chase & Co. upgraded shares of Olin from a “neutral” rating to an “overweight” rating and set a $55.00 price objective for the company in a report on Monday, July 29th. Finally, Mizuho assumed coverage on Olin in a report on Thursday, August 8th. They issued a “neutral” rating and a $45.00 price target for the company. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $51.86.

Olin Price Performance

Olin stock opened at $41.37 on Friday. The business’s 50 day simple moving average is $44.50 and its 200 day simple moving average is $47.04. The company has a current ratio of 1.40, a quick ratio of 0.82 and a debt-to-equity ratio of 1.32. Olin Co. has a 12 month low of $39.47 and a 12 month high of $60.60. The company has a market cap of $4.82 billion, a price-to-earnings ratio of 33.38, a PEG ratio of 1.74 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 1.93%. The ex-dividend date is Thursday, November 14th. Olin’s dividend payout ratio is currently 64.52%.

Insider Buying and Selling at Olin

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 value of $459,375.00. Following the sale, the vice president now directly owns 24,056 shares of the company’s stock, valued at $1,052,450. This represents a 30.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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.