Prospera Financial Services Inc Has $361,000 Stake in Olin Co. (NYSE:OLN)

Prospera Financial Services Inc reduced its position in Olin Co. (NYSE:OLN) by 8.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,516 shares of the specialty chemicals company’s stock after selling 650 shares during the quarter. Prospera Financial Services Inc’s holdings in Olin were worth $361,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Boston Partners lifted its holdings in shares of Olin by 7.7% during the 1st quarter. Boston Partners now owns 5,414,265 shares of the specialty chemicals company’s stock worth $317,897,000 after acquiring an additional 384,888 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Olin by 5.5% in the second quarter. Dimensional Fund Advisors LP now owns 3,741,007 shares of the specialty chemicals company’s stock worth $176,396,000 after acquiring an additional 194,755 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Olin by 2.5% during 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 in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of 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 valued at $50,907,000 after acquiring an additional 25,163 shares during the period. Finally, AQR Capital Management LLC boosted its stake in shares of Olin by 429.8% in the 2nd quarter. AQR Capital Management LLC now owns 610,153 shares of the specialty chemicals company’s stock valued at $28,769,000 after purchasing an additional 494,976 shares during the last quarter. Institutional investors and hedge funds own 88.67% of the company’s stock.

Olin Stock Performance

Shares of NYSE OLN opened at $42.87 on Monday. 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 firm has a market cap of $5.00 billion, a price-to-earnings ratio of 34.57, a P/E/G ratio of 1.70 and a beta of 1.43. The stock’s fifty day moving average price is $44.51 and its two-hundred day moving average price is $46.49. Olin Co. has a one year low of $39.47 and a one year 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 paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend is Thursday, November 14th. Olin’s dividend payout ratio (DPR) is 64.52%.

Insiders Place Their Bets

In other Olin news, VP R Nichole Sumner sold 10,500 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $43.75, for a total transaction of $459,375.00. Following the transaction, the vice president now owns 24,056 shares in the company, valued at $1,052,450. This trade represents a 30.39 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

OLN has been the subject of a number of analyst reports. Wells Fargo & Company decreased their price objective on Olin from $48.00 to $44.00 and set an “equal weight” rating for the company in a research note on Monday, October 28th. The Goldman Sachs Group lowered their price objective on shares of Olin from $55.00 to $49.00 and set a “neutral” rating for the company in a research report on Monday, July 29th. Mizuho assumed coverage on Olin in a report on Thursday, August 8th. They issued a “neutral” rating and a $45.00 price target on the stock. Bank of America lowered shares of Olin from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $62.00 to $51.00 in a research report on Monday, July 29th. Finally, Royal Bank of Canada reduced their price target on Olin from $52.00 to $48.00 and set an “outperform” rating for the company in a research report on Tuesday, October 29th. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $51.86.

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.