Olin Co. (NYSE:OLN) Shares Bought by Raymond James & Associates

Raymond James & Associates grew its holdings in Olin Co. (NYSE:OLNFree Report) by 10.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 192,826 shares of the specialty chemicals company’s stock after buying an additional 18,606 shares during the quarter. Raymond James & Associates owned 0.16% of Olin worth $9,252,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in OLN. Harbor Capital Advisors Inc. increased its holdings in Olin by 344.3% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 40,760 shares of the specialty chemicals company’s stock worth $1,922,000 after acquiring an additional 31,587 shares in the last quarter. SG Americas Securities LLC grew 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 valued at $2,360,000 after purchasing an additional 46,260 shares during the period. Clearbridge Investments LLC increased its stake in shares of Olin by 4.8% during the first quarter. Clearbridge Investments LLC now owns 777,658 shares of the specialty chemicals company’s stock worth $45,726,000 after purchasing an additional 35,637 shares in the last quarter. LRI Investments LLC acquired a new position in shares of Olin during the 1st quarter worth about $28,000. Finally, Seven Eight Capital LP lifted its stake in Olin by 111.4% in the 1st quarter. Seven Eight Capital LP now owns 20,416 shares of the specialty chemicals company’s stock valued at $1,200,000 after buying an additional 10,760 shares in the last quarter. 88.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on OLN shares. Wells Fargo & Company cut 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. BMO Capital Markets dropped their price target on Olin from $50.00 to $47.00 and set a “market perform” rating for the company in a research report on Tuesday. The Goldman Sachs Group reduced their price objective on Olin from $55.00 to $49.00 and set a “neutral” rating for the company in a research note on Monday, July 29th. UBS Group lowered their target price on shares of Olin from $59.00 to $51.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 9th. Finally, Bank of America cut shares of Olin from a “buy” rating to a “neutral” rating and reduced their target price for the company from $62.00 to $51.00 in a research report on Monday, July 29th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $51.33.

Read Our Latest Stock Analysis on OLN

Olin Stock Performance

Olin stock opened at $40.88 on Wednesday. The stock has a market cap of $4.81 billion, a price-to-earnings ratio of 32.97, a price-to-earnings-growth ratio of 1.01 and a beta of 1.41. 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 50 day simple moving average of $44.76 and a 200-day simple moving average of $47.97. Olin Co. has a 1-year low of $39.47 and a 1-year high of $60.60.

Olin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Thursday, November 14th will be paid a dividend of $0.20 per share. The ex-dividend date is Thursday, November 14th. This represents a $0.80 annualized dividend and a yield of 1.96%. Olin’s dividend payout ratio (DPR) is 64.52%.

Olin Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Olin (NYSE:OLN)

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