Olin Co. (NYSE:OLN) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lowered its stake in shares of Olin Co. (NYSE:OLN) by 7.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 63,505 shares of the specialty chemicals company’s stock after selling 4,870 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Olin were worth $3,047,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in OLN. Harbor Capital Advisors Inc. boosted its position in shares of Olin by 344.3% during the second quarter. Harbor Capital Advisors Inc. now owns 40,760 shares of the specialty chemicals company’s stock worth $1,922,000 after buying an additional 31,587 shares during the period. SG Americas Securities LLC boosted its position in shares of Olin by 1,220.6% in the second quarter. SG Americas Securities LLC now owns 50,050 shares of the specialty chemicals company’s stock worth $2,360,000 after buying an additional 46,260 shares during the period. LRI Investments LLC purchased a new position in shares of Olin during the first quarter valued at $28,000. Magnetar Financial LLC acquired a new position in Olin during the second quarter valued at $2,350,000. Finally, Canada Pension Plan Investment Board lifted its stake in Olin by 846.7% in the 2nd quarter. Canada Pension Plan Investment Board now owns 14,200 shares of the specialty chemicals company’s stock worth $670,000 after acquiring an additional 12,700 shares in the last quarter. 88.67% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Olin news, VP R Nichole Sumner sold 10,500 shares of Olin stock in a transaction that occurred 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 transaction, the vice president now directly owns 24,056 shares of the company’s stock, valued at $1,052,450. The trade was a 30.39 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on OLN. Piper Sandler dropped their target price on Olin from $57.00 to $51.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Bank of America lowered shares of Olin from a “buy” rating to a “neutral” rating and decreased their target price for the company from $62.00 to $51.00 in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Olin from $57.00 to $48.00 and set a “hold” rating on the stock in a research note on Monday, July 29th. Barclays reduced their price objective on Olin from $49.00 to $45.00 and set an “equal weight” rating for the company in a research report on Monday, October 28th. Finally, JPMorgan Chase & Co. raised Olin from a “neutral” rating to an “overweight” rating and set a $55.00 price target for the company in a research note on Monday, July 29th. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $51.86.

Olin Trading Up 2.0 %

Shares of OLN stock opened at $42.87 on Friday. The business’s 50 day moving average is $44.51 and its two-hundred day moving average is $46.64. 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 Co. has a 12 month low of $39.47 and a 12 month high of $60.60. The company has a market cap of $5.00 billion, a PE ratio of 34.57, a price-to-earnings-growth ratio of 1.66 and a beta of 1.43.

Olin Announces Dividend

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

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.