31,724 Shares in Olin Co. (NYSE:OLN) Acquired by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Olin Co. (NYSE:OLN) in the third quarter, Holdings Channel reports. The firm acquired 31,724 shares of the specialty chemicals company’s stock, valued at approximately $1,522,000.

Several other hedge funds have also added to or reduced their stakes in the stock. OLD National Bancorp IN increased its holdings in shares of Olin by 4.2% during the second quarter. OLD National Bancorp IN now owns 6,343 shares of the specialty chemicals company’s stock valued at $299,000 after acquiring an additional 253 shares in the last quarter. Farther Finance Advisors LLC grew its position in Olin by 88.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 589 shares of the specialty chemicals company’s stock valued at $28,000 after purchasing an additional 276 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Olin by 26.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,534 shares of the specialty chemicals company’s stock valued at $75,000 after purchasing an additional 318 shares in the last quarter. Scott & Selber Inc. raised its holdings in Olin by 1.7% in the second quarter. Scott & Selber Inc. now owns 19,206 shares of the specialty chemicals company’s stock worth $906,000 after buying an additional 326 shares during the last quarter. Finally, Entropy Technologies LP lifted its stake in shares of Olin by 2.5% in the third quarter. Entropy Technologies LP now owns 13,499 shares of the specialty chemicals company’s stock worth $648,000 after buying an additional 332 shares in the last quarter. 88.67% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on OLN. Wells Fargo & Company reduced their price target on shares of Olin from $48.00 to $44.00 and set an “equal weight” rating for the company in a research report on Monday, October 28th. BMO Capital Markets reduced 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. Piper Sandler lowered their target price on shares of Olin from $57.00 to $51.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. KeyCorp reduced their price target on shares of Olin from $57.00 to $56.00 and set an “overweight” rating for the company in a research note on Monday, October 28th. Finally, 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. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $51.86.

Olin Trading Down 0.3 %

Shares of Olin stock opened at $42.59 on Monday. Olin Co. has a 1-year low of $39.47 and a 1-year high of $60.60. The company’s fifty day simple moving average is $44.41 and its 200-day simple moving average is $45.96. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.40 and a quick ratio of 0.82. The stock has a market capitalization of $4.97 billion, a PE ratio of 34.35, a P/E/G ratio of 1.72 and a beta of 1.43.

Olin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Thursday, November 14th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.88%. The ex-dividend date is Thursday, November 14th. Olin’s dividend payout ratio is presently 64.52%.

Insiders Place Their Bets

In other Olin news, VP R Nichole Sumner sold 10,500 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $43.75, for a total value of $459,375.00. Following the completion of the transaction, the vice president now directly 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 SEC, which is available through this hyperlink. 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.