Commerce Bank Purchases 5,863 Shares of Olin Co. (NYSE:OLN)

Commerce Bank boosted its position in Olin Co. (NYSE:OLN) by 48.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,069 shares of the specialty chemicals company’s stock after buying an additional 5,863 shares during the quarter. Commerce Bank’s holdings in Olin were worth $867,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. LRI Investments LLC bought a new stake in Olin in the 1st quarter valued at $28,000. Farther Finance Advisors LLC increased its holdings in Olin by 88.2% in the third quarter. Farther Finance Advisors LLC now owns 589 shares of the specialty chemicals company’s stock valued at $28,000 after purchasing an additional 276 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Olin by 4,375.0% during the first quarter. EverSource Wealth Advisors LLC now owns 537 shares of the specialty chemicals company’s stock worth $32,000 after purchasing an additional 525 shares in the last quarter. nVerses Capital LLC acquired a new stake in Olin during the 2nd quarter worth approximately $33,000. Finally, Covestor Ltd lifted its holdings in shares of Olin by 357.5% in the third quarter. Covestor Ltd now owns 915 shares of the specialty chemicals company’s stock valued at $44,000 after purchasing an additional 715 shares in the last quarter. Institutional investors and hedge funds own 88.67% of the company’s stock.

Insiders Place Their Bets

In related news, VP R Nichole Sumner sold 10,500 shares of the business’s stock in a transaction on Friday, November 8th. The shares were 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 in the company, valued at $1,052,450. The trade was a 30.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.60% of the company’s stock.

Olin Stock Up 2.0 %

Shares of OLN opened at $42.87 on Monday. Olin Co. has a 52 week low of $39.47 and a 52 week high of $60.60. The stock has a fifty day moving average of $44.51 and a 200-day moving average of $46.49. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.82 and a current ratio of 1.40. The stock has a market capitalization of $5.00 billion, a price-to-earnings ratio of 34.57, a PEG ratio of 1.70 and a beta of 1.43.

Olin Announces Dividend

The firm also recently disclosed 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. The ex-dividend date is Thursday, November 14th. This represents a $0.80 dividend on an annualized basis and a yield of 1.87%. Olin’s dividend payout ratio (DPR) is presently 64.52%.

Wall Street Analyst Weigh In

OLN has been the topic of several research analyst reports. Royal Bank of Canada dropped their price objective on Olin from $52.00 to $48.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 29th. Piper Sandler decreased their target price on Olin from $57.00 to $51.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. The Goldman Sachs Group reduced their price target on Olin from $55.00 to $49.00 and set a “neutral” rating for the company in a research note on Monday, July 29th. Wells Fargo & Company reduced their target price on shares of Olin from $48.00 to $44.00 and set an “equal weight” rating for the company in a research report on Monday, October 28th. Finally, Barclays dropped their price objective on shares of Olin from $49.00 to $45.00 and set an “equal weight” rating for the company in a research note 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 MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target 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.