Olin Co. (NYSE:OLN) Shares Sold by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC reduced its position in shares of Olin Co. (NYSE:OLN) by 3.8% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 6,050 shares of the specialty chemicals company’s stock after selling 241 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Olin were worth $290,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in OLN. Cerity Partners LLC increased its stake in Olin by 116.7% during the third quarter. Cerity Partners LLC now owns 115,779 shares of the specialty chemicals company’s stock valued at $5,555,000 after purchasing an additional 62,352 shares during the last quarter. Raymond James Trust N.A. bought a new stake in shares of Olin during the 3rd quarter valued at about $212,000. Charles Schwab Investment Management Inc. raised its stake in Olin by 2.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,295,699 shares of the specialty chemicals company’s stock worth $62,168,000 after acquiring an additional 37,043 shares during the period. Pzena Investment Management LLC lifted its holdings in Olin by 24.8% in the third quarter. Pzena Investment Management LLC now owns 3,452,708 shares of the specialty chemicals company’s stock worth $165,661,000 after acquiring an additional 685,710 shares during the last quarter. Finally, Commerce Bank boosted its stake in Olin by 48.0% in the third quarter. Commerce Bank now owns 18,069 shares of the specialty chemicals company’s stock valued at $867,000 after acquiring an additional 5,863 shares during the period. 88.67% of the stock is currently owned by institutional investors.

Olin Price Performance

NYSE:OLN opened at $42.59 on Friday. Olin Co. has a 52-week low of $39.47 and a 52-week high of $60.60. 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 business’s 50-day moving average price is $44.41 and its 200 day moving average price is $46.11. The firm has a market cap of $4.97 billion, a P/E ratio of 34.35, a PEG ratio of 1.73 and a beta of 1.43.

Olin Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages recently issued reports on OLN. Mizuho started coverage on Olin in a report on Thursday, August 8th. They issued a “neutral” rating and a $45.00 price target on the stock. Wells Fargo & Company dropped their price objective on shares of Olin from $48.00 to $44.00 and set an “equal weight” rating on the stock in a report on Monday, October 28th. Piper Sandler cut their price objective on shares of Olin from $57.00 to $51.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. BMO Capital Markets decreased their target price on shares of Olin from $50.00 to $47.00 and set a “market perform” rating for the company in a research report on Tuesday, October 29th. Finally, Royal Bank of Canada cut their price target on Olin from $52.00 to $48.00 and set an “outperform” rating on the stock in a report on Tuesday, October 29th. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Olin presently has an average rating of “Hold” and a consensus target price of $51.86.

Insiders Place Their Bets

In other 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 transaction of $459,375.00. Following the completion of 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 SEC, which is available at the SEC website. 1.60% of the stock is currently owned by company insiders.

About Olin

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.