Entropy Technologies LP Boosts Stock Position in Olin Co. (NYSE:OLN)

Entropy Technologies LP grew its stake in Olin Co. (NYSE:OLN) by 2.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,499 shares of the specialty chemicals company’s stock after purchasing an additional 332 shares during the period. Entropy Technologies LP’s holdings in Olin were worth $648,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analysts Forecast Growth

OLN has been the topic of a number of recent analyst reports. KeyCorp decreased their price objective on Olin from $57.00 to $56.00 and set an “overweight” rating on the stock in a report on Monday, October 28th. BMO Capital Markets decreased their price target on Olin from $50.00 to $47.00 and set a “market perform” rating on the stock in a research note on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft decreased their price target on Olin from $57.00 to $48.00 and set a “hold” rating on the stock in a research note on Monday, July 29th. Royal Bank of Canada decreased their price target on Olin from $52.00 to $48.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 29th. Finally, Wells Fargo & Company decreased their price target on Olin from $48.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Monday, October 28th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $51.86.

Insider Activity at Olin

In related news, VP R Nichole Sumner sold 10,500 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $43.75, for a total value of $459,375.00. Following the transaction, the vice president now 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 transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.60% of the stock is currently owned by corporate insiders.

Olin Stock Down 2.0 %

Shares of NYSE OLN opened at $41.82 on Friday. The stock has a market cap of $4.88 billion, a P/E ratio of 33.73, a PEG ratio of 1.74 and a beta of 1.43. The company has a current ratio of 1.40, a quick ratio of 0.82 and a debt-to-equity ratio of 1.32. Olin Co. has a 12-month low of $39.47 and a 12-month high of $60.60. The business’s fifty day simple moving average is $44.51 and its 200-day simple moving average is $47.08.

Olin Announces Dividend

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 issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.91%. The ex-dividend date of this dividend is Thursday, November 14th. Olin’s dividend payout ratio (DPR) is presently 64.52%.

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.