Olin Co. (NYSE:OLN) Position Trimmed by Victory Capital Management Inc.

Victory Capital Management Inc. trimmed its holdings in shares of Olin Co. (NYSE:OLN) by 6.7% in the third quarter, HoldingsChannel reports. The institutional investor owned 385,773 shares of the specialty chemicals company’s stock after selling 27,510 shares during the quarter. Victory Capital Management Inc.’s holdings in Olin were worth $18,509,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in OLN. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Olin by 7.7% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 12,677 shares of the specialty chemicals company’s stock worth $745,000 after purchasing an additional 906 shares during the period. Mitsubishi UFJ Trust & Banking Corp boosted its stake in Olin by 146.6% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 16,036 shares of the specialty chemicals company’s stock worth $957,000 after purchasing an additional 9,533 shares during the period. Seven Eight Capital LP boosted its stake in Olin by 111.4% in the 1st quarter. Seven Eight Capital LP now owns 20,416 shares of the specialty chemicals company’s stock worth $1,200,000 after purchasing an additional 10,760 shares during the period. Clearbridge Investments LLC boosted its stake in Olin by 4.8% in the 1st quarter. Clearbridge Investments LLC now owns 777,658 shares of the specialty chemicals company’s stock worth $45,726,000 after purchasing an additional 35,637 shares during the period. Finally, Beaconlight Capital LLC boosted its stake in Olin by 17.2% in the 1st quarter. Beaconlight Capital LLC now owns 64,606 shares of the specialty chemicals company’s stock worth $3,799,000 after purchasing an additional 9,466 shares during the period. 88.67% of the stock is currently owned by institutional investors.

Olin Stock Performance

Shares of OLN opened at $41.46 on Tuesday. The company has a market capitalization of $4.83 billion, a PE ratio of 33.38, a price-to-earnings-growth ratio of 1.68 and a beta of 1.43. Olin Co. has a one year low of $39.47 and a one year high of $60.60. 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 company’s fifty day moving average price is $44.50 and its 200 day moving average price is $46.89.

Olin Dividend Announcement

The company 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. The ex-dividend date is Thursday, November 14th. This represents a $0.80 annualized dividend and a yield of 1.93%. Olin’s dividend payout ratio (DPR) is presently 64.52%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Mizuho assumed coverage on shares of Olin in a research note on Thursday, August 8th. They set a “neutral” rating and a $45.00 target price for the company. Piper Sandler decreased their target price on shares of Olin from $57.00 to $51.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Olin from $57.00 to $48.00 and set a “hold” rating for the company in a research note on Monday, July 29th. KeyCorp decreased their target price on shares of Olin from $57.00 to $56.00 and set an “overweight” rating for the company in a research note on Monday, October 28th. Finally, Wells Fargo & Company cut their price target on shares of Olin from $48.00 to $44.00 and set an “equal weight” 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 assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $51.86.

Insider Buying and Selling

In other Olin news, VP R Nichole Sumner sold 10,500 shares of the firm’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 sale, the vice president now directly owns 24,056 shares in the company, valued at $1,052,450. This trade represents a 30.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.60% of the company’s stock.

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.