Great West Life Assurance Co. Can Has $3.79 Million Stock Holdings in Olin Co. (NYSE:OLN)

Great West Life Assurance Co. Can cut its position in Olin Co. (NYSE:OLN – Get Rating) by 3.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 88,229 shares of the specialty chemicals company’s stock after selling 2,868 shares during the period. Great West Life Assurance Co. Can owned 0.06% of Olin worth $3,785,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Virtu Financial LLC bought a new position in Olin in the 2nd quarter valued at about $492,000. Stratos Wealth Partners LTD. lifted its position in Olin by 7.2% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 4,377 shares of the specialty chemicals company’s stock valued at $203,000 after acquiring an additional 294 shares in the last quarter. Intersect Capital LLC lifted its position in Olin by 27.6% in the 2nd quarter. Intersect Capital LLC now owns 9,077 shares of the specialty chemicals company’s stock valued at $420,000 after acquiring an additional 1,964 shares in the last quarter. Coombe Bender & Co LLC bought a new position in Olin in the 2nd quarter valued at about $3,306,000. Finally, Prudential PLC lifted its position in Olin by 71.0% in the 2nd quarter. Prudential PLC now owns 25,241 shares of the specialty chemicals company’s stock valued at $1,168,000 after acquiring an additional 10,482 shares in the last quarter. Institutional investors own 85.77% of the company’s stock.

Insider Activity at Olin

In related news, COO James A. Varilek sold 50,000 shares of Olin stock in a transaction that occurred on Friday, November 18th. The shares were sold at an average price of $56.56, for a total value of $2,828,000.00. Following the completion of the transaction, the chief operating officer now directly owns 17,761 shares in the company, valued at approximately $1,004,562.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 9.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on OLN. Piper Sandler dropped their price target on shares of Olin from $68.00 to $64.00 and set an “overweight” rating on the stock in a research report on Monday, October 10th. Morgan Stanley cut shares of Olin from an “equal weight” rating to an “underweight” rating and set a $50.00 target price on the stock. in a research report on Tuesday, January 10th. StockNews.com assumed coverage on shares of Olin in a research report on Wednesday, October 12th. They set a “buy” rating on the stock. Wells Fargo & Company dropped their target price on shares of Olin from $69.00 to $66.00 and set an “overweight” rating on the stock in a research report on Thursday, December 15th. Finally, Citigroup lifted their target price on shares of Olin from $55.00 to $58.00 in a research report on Monday. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $59.00.

Olin Trading Up 1.5 %

NYSE:OLN opened at $57.21 on Tuesday. The company has a current ratio of 1.41, a quick ratio of 0.83 and a debt-to-equity ratio of 1.01. The stock has a market capitalization of $7.84 billion, a PE ratio of 6.15, a price-to-earnings-growth ratio of 0.94 and a beta of 1.42. The firm’s 50 day moving average is $55.10 and its 200 day moving average is $52.49. Olin Co. has a 12 month low of $41.33 and a 12 month high of $67.25.

Olin (NYSE:OLN – Get Rating) last posted its quarterly earnings results on Wednesday, October 26th. The specialty chemicals company reported $2.18 EPS for the quarter, topping analysts’ consensus estimates of $1.86 by $0.32. The company had revenue of $2.32 billion for the quarter, compared to analysts’ expectations of $2.38 billion. Olin had a net margin of 14.62% and a return on equity of 56.96%. Sell-side analysts expect that Olin Co. will post 8.84 earnings per share for the current year.

Olin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 9th. Investors of record on Thursday, November 10th were paid a $0.20 dividend. The ex-dividend date was Wednesday, November 9th. This represents a $0.80 dividend on an annualized basis and a yield of 1.40%. Olin’s dividend payout ratio is 8.59%.

Olin Profile

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Olin Corp. engages in manufacturing of chemicals products. It operates through the following segments: Chlor Alkali Products and Vinyls, Epoxy, and Winchester. The Chlor Alkali Products and Vinyls segment manufactures and sells chlorine and caustic soda, ethylene dichloride and vinyl chloride monomer, methyl chloride, methylene chloride, chloroform, carbon tetrachloride, perchloroethylene, trichloroethylene and vinylidene chloride, hydrochloric acid, hydrogen, bleach products and potassium hydroxide.