5,333 Shares in Olin Co. (NYSE:OLN) Purchased by Wilmington Savings Fund Society FSB

Wilmington Savings Fund Society FSB acquired a new position in shares of Olin Co. (NYSE:OLN) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 5,333 shares of the specialty chemicals company’s stock, valued at approximately $256,000.

Several other large investors also recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC increased its stake 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 acquiring an additional 276 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Olin by 26.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,534 shares of the specialty chemicals company’s stock worth $75,000 after acquiring an additional 318 shares during the last quarter. Scott & Selber Inc. increased its stake in Olin by 1.7% during the second quarter. Scott & Selber Inc. now owns 19,206 shares of the specialty chemicals company’s stock worth $906,000 after acquiring an additional 326 shares during the last quarter. Entropy Technologies LP increased its stake in Olin by 2.5% during the third quarter. Entropy Technologies LP now owns 13,499 shares of the specialty chemicals company’s stock worth $648,000 after acquiring an additional 332 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in Olin by 3.0% during the third quarter. Nisa Investment Advisors LLC now owns 11,830 shares of the specialty chemicals company’s stock worth $568,000 after acquiring an additional 350 shares during the last quarter. 88.67% of the stock is owned by institutional investors.

Olin Trading Up 0.4 %

OLN opened at $35.47 on Wednesday. The stock’s fifty day moving average is $42.61 and its two-hundred day moving average is $44.70. The company has a market capitalization of $4.14 billion, a P/E ratio of 28.60, a PEG ratio of 1.51 and a beta of 1.43. Olin Co. has a 52 week low of $34.85 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.

Olin Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Thursday, November 14th were issued a dividend of $0.20 per share. The ex-dividend date was Thursday, November 14th. This represents a $0.80 annualized dividend and a yield of 2.26%. Olin’s payout ratio is currently 64.52%.

Olin announced that its Board of Directors has initiated a stock repurchase plan on Thursday, December 12th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the specialty chemicals company to reacquire up to 45% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Wells Fargo & Company reduced their price objective on Olin from $48.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Monday, October 28th. Royal Bank of Canada cut their target price on Olin from $52.00 to $48.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 29th. BMO Capital Markets reduced their price target on Olin from $50.00 to $47.00 and set a “market perform” rating on the stock in a report on Tuesday, October 29th. Piper Sandler reduced their price target on Olin from $57.00 to $51.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Finally, Citigroup reduced their price target on Olin from $48.00 to $45.00 and set a “buy” rating on the stock in a report on Monday. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $50.14.

Insiders Place Their Bets

In other Olin news, VP R Nichole Sumner sold 10,500 shares of the 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 sale, the vice president now owns 24,056 shares of the company’s stock, valued at approximately $1,052,450. This trade represents a 30.39 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.80% of the stock is currently owned by company insiders.

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.