Cerity Partners LLC Raises Stock Position in Olin Co. (NYSE:OLN)

Cerity Partners LLC lifted its stake in Olin Co. (NYSE:OLN) by 116.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 115,779 shares of the specialty chemicals company’s stock after purchasing an additional 62,352 shares during the period. Cerity Partners LLC owned 0.10% of Olin worth $5,555,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its position in shares of Olin by 5.5% during the second quarter. Dimensional Fund Advisors LP now owns 3,741,007 shares of the specialty chemicals company’s stock valued at $176,396,000 after purchasing an additional 194,755 shares in the last quarter. Pzena Investment Management LLC boosted its holdings in shares of Olin by 24.8% during the 3rd quarter. Pzena Investment Management LLC now owns 3,452,708 shares of the specialty chemicals company’s stock valued at $165,661,000 after buying an additional 685,710 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Olin by 2.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,373,519 shares of the specialty chemicals company’s stock worth $64,761,000 after buying an additional 33,143 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Olin by 2.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,295,699 shares of the specialty chemicals company’s stock valued at $62,168,000 after acquiring an additional 37,043 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its stake in Olin by 2.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,061,001 shares of the specialty chemicals company’s stock worth $50,907,000 after acquiring an additional 25,163 shares in the last quarter. 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 the company’s stock in a transaction dated Friday, November 8th. The shares were 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 of the company’s stock, valued at $1,052,450. This represents a 30.39 % decrease in their position. 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 corporate insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on OLN shares. Wells Fargo & Company decreased their target price on shares of Olin from $48.00 to $44.00 and set an “equal weight” rating for the company in a research note on Monday, October 28th. 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 note on Tuesday, October 29th. 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. Piper Sandler lowered their price target 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, KeyCorp cut their price objective on shares of Olin from $57.00 to $56.00 and set an “overweight” rating on the stock in a research report on Monday, October 28th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Olin presently has an average rating of “Hold” and a consensus target price of $51.86.

Olin Stock Up 1.5 %

Shares of Olin stock opened at $42.70 on Friday. The company has a market cap of $4.98 billion, a price-to-earnings ratio of 34.44, a price-to-earnings-growth ratio of 1.76 and a beta of 1.43. 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’s 50 day moving average is $44.44 and its 200 day moving average is $46.20. Olin Co. has a twelve month low of $39.47 and a twelve month high of $60.60.

Olin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Thursday, November 14th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend is Thursday, November 14th. Olin’s dividend payout ratio (DPR) is presently 64.52%.

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.