Point72 Asia Singapore Pte. Ltd. Raises Position in Olin Co. (NYSE:OLN)

Point72 Asia Singapore Pte. Ltd. boosted its position in Olin Co. (NYSE:OLN) by 22.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,676 shares of the specialty chemicals company’s stock after purchasing an additional 1,594 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in Olin were worth $416,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. OLD National Bancorp IN lifted its position in shares of Olin by 4.2% during the 2nd quarter. OLD National Bancorp IN now owns 6,343 shares of the specialty chemicals company’s stock valued at $299,000 after buying an additional 253 shares during the last quarter. Farther Finance Advisors LLC raised its stake in Olin by 88.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 589 shares of the specialty chemicals company’s stock valued at $28,000 after acquiring an additional 276 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Olin by 26.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,534 shares of the specialty chemicals company’s stock valued at $75,000 after purchasing an additional 318 shares during the last quarter. Scott & Selber Inc. boosted its position in Olin by 1.7% during the second quarter. Scott & Selber Inc. now owns 19,206 shares of the specialty chemicals company’s stock worth $906,000 after purchasing an additional 326 shares during the period. Finally, Entropy Technologies LP increased its stake in shares of Olin by 2.5% in the third quarter. Entropy Technologies LP now owns 13,499 shares of the specialty chemicals company’s stock worth $648,000 after purchasing an additional 332 shares in the last quarter. 88.67% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. KeyCorp dropped their price target on shares of Olin from $57.00 to $56.00 and set an “overweight” rating on the stock in a research note on Monday, October 28th. Barclays cut their price target on Olin from $49.00 to $45.00 and set an “equal weight” rating for the company in a report on Monday, October 28th. Wells Fargo & Company decreased their price objective on Olin from $48.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Monday, October 28th. Piper Sandler cut their target price on Olin from $57.00 to $51.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Finally, Royal Bank of Canada decreased their price target on Olin from $52.00 to $48.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 29th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Olin presently has an average rating of “Hold” and a consensus target price of $51.86.

Olin Trading Up 2.0 %

Shares of Olin stock opened at $43.45 on Tuesday. The company has a 50 day simple moving average of $44.39 and a two-hundred day simple moving average of $45.87. The firm has a market cap of $5.07 billion, a PE ratio of 35.04, a PEG ratio of 1.72 and a beta of 1.43. Olin Co. has a 1 year low of $39.47 and a 1 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.

Olin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Thursday, November 14th will be given a $0.20 dividend. The ex-dividend date is Thursday, November 14th. This represents a $0.80 annualized dividend and a yield of 1.84%. Olin’s dividend payout ratio (DPR) is presently 64.52%.

Insider Buying and Selling

In related news, VP R Nichole Sumner sold 10,500 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $43.75, for a total value of $459,375.00. Following the completion of the sale, 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 position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.80% of the stock is owned by company insiders.

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.