Profund Advisors LLC grew its stake in Olin Co. (NYSE:OLN) by 36.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,078 shares of the specialty chemicals company’s stock after purchasing an additional 8,510 shares during the period. Profund Advisors LLC’s holdings in Olin were worth $1,141,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of OLN. First Trust Advisors LP lifted its stake in shares of Olin by 101.3% in the 3rd quarter. First Trust Advisors LP now owns 211,564 shares of the specialty chemicals company’s stock valued at $7,246,000 after purchasing an additional 106,444 shares during the last quarter. Crossmark Global Holdings Inc. bought a new stake in shares of Olin in the 3rd quarter valued at approximately $457,000. Boston Partners lifted its stake in shares of Olin by 2.2% in the 3rd quarter. Boston Partners now owns 646,387 shares of the specialty chemicals company’s stock valued at $22,139,000 after purchasing an additional 14,197 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Olin by 8.4% in the 3rd quarter. Principal Financial Group Inc. now owns 1,060,870 shares of the specialty chemicals company’s stock valued at $36,335,000 after purchasing an additional 82,355 shares during the last quarter. Finally, Jennison Associates LLC lifted its stake in shares of Olin by 7,869.7% in the 3rd quarter. Jennison Associates LLC now owns 1,992,417 shares of the specialty chemicals company’s stock valued at $68,240,000 after purchasing an additional 1,967,417 shares during the last quarter. 89.09% of the stock is owned by institutional investors and hedge funds.
Shares of Olin Co. (OLN) opened at $32.78 on Wednesday. Olin Co. has a one year low of $27.79 and a one year high of $38.84. The company has a current ratio of 1.78, a quick ratio of 1.07 and a debt-to-equity ratio of 1.31. The stock has a market capitalization of $5,539.87, a P/E ratio of 38.99, a P/E/G ratio of 1.18 and a beta of 1.43.
The firm also recently declared a quarterly dividend, which was paid on Friday, March 9th. Investors of record on Friday, February 9th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date of this dividend was Thursday, February 8th. Olin’s dividend payout ratio is currently 24.69%.
Several research firms have recently issued reports on OLN. Royal Bank of Canada reaffirmed a “buy” rating and issued a $42.00 price objective on shares of Olin in a research note on Thursday, December 14th. Zacks Investment Research raised Olin from a “hold” rating to a “buy” rating and set a $42.00 price objective for the company in a research note on Friday, January 12th. JPMorgan Chase & Co. began coverage on Olin in a research note on Friday, March 9th. They issued an “overweight” rating and a $36.00 price objective for the company. Morgan Stanley began coverage on Olin in a research note on Tuesday, January 9th. They issued an “overweight” rating and a $45.00 price objective for the company. Finally, SunTrust Banks reaffirmed a “buy” rating on shares of Olin in a research note on Tuesday, February 13th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $39.45.
In other Olin news, Director Donald W. Bogus purchased 6,000 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was purchased at an average cost of $33.07 per share, with a total value of $198,420.00. Following the purchase, the director now owns 83,118 shares of the company’s stock, valued at $2,748,712.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Stephen C. Curley sold 6,250 shares of the firm’s stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $33.00, for a total value of $206,250.00. Following the sale, the insider now directly owns 25,837 shares of the company’s stock, valued at $852,621. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by company insiders.
Olin Corporation is a manufacturer and distributor of chemical products, and ammunition. The Company operates through three 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.
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