Moors & Cabot Inc. Lowers Stake in Olin Co. (NYSE:OLN)

Moors & Cabot Inc. cut its stake in Olin Co. (NYSE:OLN) by 16.1% in the 3rd quarter, Holdings Channel reports. The fund owned 5,225 shares of the specialty chemicals company’s stock after selling 1,000 shares during the quarter. Moors & Cabot Inc.’s holdings in Olin were worth $251,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Commerce Bank raised its stake in shares of Olin by 48.0% during the third quarter. Commerce Bank now owns 18,069 shares of the specialty chemicals company’s stock worth $867,000 after acquiring an additional 5,863 shares in the last quarter. Segall Bryant & Hamill LLC bought a new position in shares of Olin during the 3rd quarter valued at $916,000. Empowered Funds LLC raised its position in Olin by 126.9% in the 3rd quarter. Empowered Funds LLC now owns 20,498 shares of the specialty chemicals company’s stock worth $983,000 after purchasing an additional 11,466 shares during the period. Connable Office Inc. lifted its stake in Olin by 22.9% in the third quarter. Connable Office Inc. now owns 5,680 shares of the specialty chemicals company’s stock worth $273,000 after purchasing an additional 1,057 shares during the last quarter. Finally, Entropy Technologies LP boosted its position in Olin by 2.5% during the third quarter. Entropy Technologies LP now owns 13,499 shares of the specialty chemicals company’s stock valued at $648,000 after buying an additional 332 shares during the period. Institutional investors own 88.67% of the company’s stock.

Insider Buying and Selling

In other 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 transaction of $459,375.00. Following the sale, the vice president now owns 24,056 shares in the company, valued at approximately $1,052,450. The trade was a 30.39 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.60% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on OLN shares. JPMorgan Chase & Co. raised Olin from a “neutral” rating to an “overweight” rating and set a $55.00 target price for the company in a research note on Monday, July 29th. Mizuho assumed coverage on Olin in a research note on Thursday, August 8th. They set a “neutral” rating and a $45.00 price objective for the company. Royal Bank of Canada cut their target price on shares of Olin from $52.00 to $48.00 and set an “outperform” rating on the stock in a report on Tuesday, October 29th. Barclays lowered their price target on shares of Olin from $49.00 to $45.00 and set an “equal weight” rating for the company in a report on Monday, October 28th. Finally, KeyCorp cut their price target on shares of Olin from $57.00 to $56.00 and set an “overweight” rating on the stock in a report on Monday, October 28th. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Olin has a consensus rating of “Hold” and an average target price of $51.86.

Olin Stock Performance

Shares of OLN opened at $42.87 on Monday. The company has a 50-day simple moving average of $44.51 and a two-hundred day simple moving average of $46.49. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.40 and a quick ratio of 0.82. The firm 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 Co. has a one year low of $39.47 and a one year high of $60.60.

Olin Dividend Announcement

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