Prospera Financial Services Inc Has $361,000 Stake in Olin Co. (NYSE:OLN)

Prospera Financial Services Inc lowered its position in shares of Olin Co. (NYSE:OLN) by 8.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,516 shares of the specialty chemicals company’s stock after selling 650 shares during the period. Prospera Financial Services Inc’s holdings in Olin were worth $361,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. AQR Capital Management LLC increased its position in Olin by 429.8% in the 2nd quarter. AQR Capital Management LLC now owns 610,153 shares of the specialty chemicals company’s stock valued at $28,769,000 after acquiring an additional 494,976 shares during the period. Boston Partners grew its stake in shares of Olin by 7.7% in the first quarter. Boston Partners now owns 5,414,265 shares of the specialty chemicals company’s stock worth $317,897,000 after purchasing an additional 384,888 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Olin by 5.5% in the second quarter. Dimensional Fund Advisors LP now owns 3,741,007 shares of the specialty chemicals company’s stock valued at $176,396,000 after purchasing an additional 194,755 shares during the period. Cubist Systematic Strategies LLC lifted its holdings in Olin by 2,778.3% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 168,582 shares of the specialty chemicals company’s stock worth $7,949,000 after buying an additional 162,725 shares during the period. Finally, Hsbc Holdings PLC grew its position in shares of Olin by 49.8% in the 2nd quarter. Hsbc Holdings PLC now owns 268,233 shares of the specialty chemicals company’s stock valued at $12,737,000 after buying an additional 89,178 shares during the last quarter. Institutional investors and hedge funds own 88.67% of the company’s stock.

Olin Trading Up 2.0 %

Shares of Olin stock opened at $42.87 on Monday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.82 and a current ratio of 1.40. Olin Co. has a 52 week low of $39.47 and a 52 week high of $60.60. The stock has a 50 day moving average price of $44.51 and a two-hundred day moving average price of $46.49. The stock has a market capitalization of $5.00 billion, a PE ratio of 34.57, a price-to-earnings-growth ratio of 1.70 and a beta of 1.43.

Olin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Thursday, November 14th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.80 annualized dividend and a yield of 1.87%. Olin’s payout ratio is 64.52%.

Insider Activity

In related 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 owns 24,056 shares in the company, valued at approximately $1,052,450. This represents a 30.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

OLN has been the subject of a number of analyst reports. The Goldman Sachs Group lowered their price objective on Olin from $55.00 to $49.00 and set a “neutral” rating for the company in a research report on Monday, July 29th. Wells Fargo & Company dropped their price target on shares of Olin from $48.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Monday, October 28th. BMO Capital Markets decreased their price objective 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. Bank of America lowered shares of Olin from a “buy” rating to a “neutral” rating and dropped their target price for the company from $62.00 to $51.00 in a report on Monday, July 29th. Finally, KeyCorp decreased their price target on Olin from $57.00 to $56.00 and set an “overweight” rating for the company in a report on Monday, October 28th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $51.86.

Olin Company Profile

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.