Olin Corporation $OLN Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC reduced its position in Olin Corporation (NYSE:OLN) by 22.3% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 353,924 shares of the specialty chemicals company’s stock after selling 101,833 shares during the period. SG Americas Securities LLC’s holdings in Olin were worth $10,522,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Covestor Ltd lifted its stake in shares of Olin by 10.6% during the 4th quarter. Covestor Ltd now owns 5,189 shares of the specialty chemicals company’s stock worth $108,000 after purchasing an additional 497 shares during the period. Madison Asset Management LLC lifted its position in Olin by 0.6% during the fourth quarter. Madison Asset Management LLC now owns 97,616 shares of the specialty chemicals company’s stock worth $2,033,000 after buying an additional 555 shares during the period. FORA Capital LLC boosted its stake in Olin by 2.6% in the 2nd quarter. FORA Capital LLC now owns 24,453 shares of the specialty chemicals company’s stock worth $491,000 after buying an additional 625 shares during the last quarter. Rockefeller Capital Management L.P. boosted its stake in Olin by 115.2% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,231 shares of the specialty chemicals company’s stock worth $26,000 after buying an additional 659 shares during the last quarter. Finally, UMB Bank n.a. grew its holdings in Olin by 34.0% in the 4th quarter. UMB Bank n.a. now owns 2,597 shares of the specialty chemicals company’s stock valued at $54,000 after buying an additional 659 shares during the period. 88.67% of the stock is currently owned by institutional investors and hedge funds.

Olin Stock Up 1.3%

OLN opened at $21.66 on Friday. The firm has a 50 day moving average price of $25.62 and a 200 day moving average price of $24.72. The company has a market cap of $2.47 billion, a PE ratio of -19.34 and a beta of 1.17. Olin Corporation has a 1 year low of $18.08 and a 1 year high of $30.46. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.82 and a current ratio of 1.36.

Olin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Thursday, May 14th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.7%. The ex-dividend date was Thursday, May 14th. Olin’s payout ratio is currently -71.43%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Truist Financial increased their price objective on shares of Olin from $20.00 to $26.00 and gave the stock a “hold” rating in a report on Monday, May 11th. The Goldman Sachs Group upped their price target on shares of Olin from $22.00 to $31.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 12th. Royal Bank Of Canada set a $30.00 price target on shares of Olin and gave the stock a “sector perform” rating in a research note on Friday, April 10th. Wall Street Zen lowered shares of Olin from a “hold” rating to a “sell” rating in a report on Saturday. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Olin from $26.00 to $25.00 and set a “neutral” rating for the company in a research note on Thursday, June 18th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $28.00.

About Olin

Olin Corporation is a diversified manufacturer specializing in chemical products and ammunition. The company’s core business activities encompass the production and distribution of chlor-alkali products, epoxy resins and derivatives, and small-caliber ammunition under the Winchester brand. Olin’s chemical operations supply chlorine, caustic soda and related co-products to a wide range of end markets, including water treatment, pulp and paper, pharmaceuticals and general industrial applications.

In its Chlor Alkali Products & Vinyls segment, Olin operates multiple manufacturing facilities that produce chlorine and sodium hydroxide, along with vinyl chloride monomer and polyvinyl chloride (PVC) compounds.