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

Captrust Financial Advisors boosted its stake in Olin Co. (NYSE:OLN) by 14.4% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 4,998 shares of the specialty chemicals company’s stock after acquiring an additional 630 shares during the quarter. Captrust Financial Advisors’ holdings in Olin were worth $240,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Olin during the 3rd quarter worth $1,522,000. Bridgewater Associates LP raised its holdings in Olin by 286.3% in the 3rd quarter. Bridgewater Associates LP now owns 55,424 shares of the specialty chemicals company’s stock valued at $2,659,000 after buying an additional 41,078 shares during the period. Larson Financial Group LLC increased its stake in Olin by 5.9% during the third quarter. Larson Financial Group LLC now owns 29,709 shares of the specialty chemicals company’s stock worth $1,425,000 after purchasing an additional 1,659 shares during the period. Cerity Partners LLC increased its stake in Olin by 116.7% during the third quarter. Cerity Partners LLC now owns 115,779 shares of the specialty chemicals company’s stock worth $5,555,000 after purchasing an additional 62,352 shares during the period. Finally, Raymond James Trust N.A. purchased a new stake in Olin during the third quarter worth about $212,000. Institutional investors and hedge funds 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 the company’s stock in a transaction that occurred 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 sale, the vice president now owns 24,056 shares in the company, valued at $1,052,450. This represents a 30.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.60% of the stock is owned by company insiders.

Olin Stock Performance

Shares of OLN opened at $37.31 on Monday. The stock has a 50 day moving average price of $43.08 and a 200 day moving average price of $45.00. 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 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. Olin Co. has a 52-week low of $36.56 and a 52-week high of $60.60.

Olin announced that its board has approved a stock 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 reacquire up to 45% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Olin Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Thursday, November 14th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date of this dividend was Thursday, November 14th. Olin’s dividend payout ratio is currently 64.52%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. KeyCorp cut their price target on shares of Olin from $57.00 to $56.00 and set an “overweight” rating on the stock in a research note on Monday, October 28th. Royal Bank of Canada cut their price target on shares of Olin from $52.00 to $48.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 29th. Wells Fargo & Company lowered their price objective on Olin from $48.00 to $44.00 and set an “equal weight” rating for the company in a research report on Monday, October 28th. Piper Sandler lowered their price objective on Olin from $57.00 to $51.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Finally, BMO Capital Markets lowered their price objective on Olin from $50.00 to $47.00 and set a “market perform” rating for the company in a research report on Tuesday, October 29th. Eight 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.com, the company currently has a consensus rating of “Hold” and an average price target of $51.71.

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.