Moors & Cabot Inc. Has $251,000 Holdings in Olin Co. (NYSE:OLN)

Moors & Cabot Inc. trimmed its stake in Olin Co. (NYSE:OLN) by 16.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,225 shares of the specialty chemicals company’s stock after selling 1,000 shares during the period. Moors & Cabot Inc.’s holdings in Olin were worth $251,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. LRI Investments LLC acquired a new stake in shares of Olin in the first quarter valued at about $28,000. Farther Finance Advisors LLC increased 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 period. EverSource Wealth Advisors LLC lifted its position in shares of Olin by 4,375.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 537 shares of the specialty chemicals company’s stock worth $32,000 after purchasing an additional 525 shares during the period. nVerses Capital LLC acquired a new position in shares of Olin in the 2nd quarter worth approximately $33,000. Finally, Covestor Ltd boosted its stake in shares of Olin by 357.5% in the 3rd quarter. Covestor Ltd now owns 915 shares of the specialty chemicals company’s stock valued at $44,000 after purchasing an additional 715 shares during the last quarter. 88.67% of the stock is owned by institutional investors.

Olin Trading Up 2.0 %

Shares of OLN stock opened at $42.87 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 firm has a market cap of $5.00 billion, a P/E ratio of 34.57, a PEG ratio of 1.70 and a beta of 1.43. The company has a 50 day moving average of $44.51 and a 200-day moving average of $46.49. Olin Co. has a 12-month low of $39.47 and a 12-month high of $60.60.

Olin Announces Dividend

The firm also recently disclosed 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 1.87%. The ex-dividend date is Thursday, November 14th. Olin’s dividend payout ratio (DPR) is presently 64.52%.

Insiders Place Their Bets

In related 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 transaction of $459,375.00. Following the sale, the vice president now directly owns 24,056 shares in the company, valued at approximately $1,052,450. This represents a 30.39 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on OLN shares. Barclays dropped their target price on shares of Olin from $49.00 to $45.00 and set an “equal weight” rating on the stock in a report on Monday, October 28th. Piper Sandler lowered their target price on Olin from $57.00 to $51.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft dropped their price target on Olin from $57.00 to $48.00 and set a “hold” rating on the stock in a research note on Monday, July 29th. Bank of America downgraded shares of Olin from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $62.00 to $51.00 in a research report on Monday, July 29th. Finally, Wells Fargo & Company dropped their target price on shares of Olin from $48.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Monday, October 28th. Eight 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.com, Olin has a consensus rating of “Hold” and a consensus target price of $51.86.

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.