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

Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Olin Co. (NYSE:OLN) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 31,724 shares of the specialty chemicals company’s stock, valued at approximately $1,522,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. OLD National Bancorp IN raised its holdings in shares of Olin by 4.2% during the 2nd quarter. OLD National Bancorp IN now owns 6,343 shares of the specialty chemicals company’s stock valued at $299,000 after buying an additional 253 shares in the last quarter. Farther Finance Advisors LLC grew its position in Olin by 88.2% during the third quarter. Farther Finance Advisors LLC now owns 589 shares of the specialty chemicals company’s stock valued at $28,000 after acquiring an additional 276 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of 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 in the last quarter. Scott & Selber Inc. boosted its stake in shares of Olin by 1.7% in the 2nd quarter. Scott & Selber Inc. now owns 19,206 shares of the specialty chemicals company’s stock valued at $906,000 after purchasing an additional 326 shares in the last quarter. Finally, Entropy Technologies LP boosted its stake in shares of Olin by 2.5% in the 3rd quarter. Entropy Technologies LP now owns 13,499 shares of the specialty chemicals company’s stock valued at $648,000 after purchasing an additional 332 shares in the last quarter. Institutional investors own 88.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on OLN. Mizuho began coverage on shares of Olin in a research report on Thursday, August 8th. They issued a “neutral” rating and a $45.00 target price on the stock. Royal Bank of Canada decreased their price objective on Olin from $52.00 to $48.00 and set an “outperform” rating on the stock in a report on Tuesday, October 29th. Wells Fargo & Company dropped their target price on Olin from $48.00 to $44.00 and set an “equal weight” rating for the company in a report on Monday, October 28th. Piper Sandler decreased their price target on Olin from $57.00 to $51.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Finally, KeyCorp dropped their price objective on Olin from $57.00 to $56.00 and set an “overweight” rating for the company in a research note on Monday, October 28th. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Olin has a consensus rating of “Hold” and a consensus price target of $51.86.

Olin Stock Performance

Shares of OLN stock opened at $42.59 on Monday. 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 stock has a fifty day moving average of $44.41 and a 200 day moving average of $45.96. The firm has a market capitalization of $4.97 billion, a price-to-earnings ratio of 34.35, a PEG ratio of 1.72 and a beta of 1.43. Olin Co. has a 52 week low of $39.47 and a 52 week high of $60.60.

Olin Announces Dividend

The business also recently declared 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 annualized dividend and a dividend yield of 1.88%. The ex-dividend date is Thursday, November 14th. Olin’s dividend payout ratio is currently 64.52%.

Insider Buying and Selling

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. 1.60% of the stock is owned by insiders.

Olin Company 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.