110,000 Shares in Olin Co. (NYSE:OLN) Bought by First Sabrepoint Capital Management LP

First Sabrepoint Capital Management LP purchased a new stake in shares of Olin Co. (NYSE:OLN) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 110,000 shares of the specialty chemicals company’s stock, valued at approximately $5,278,000. Olin accounts for 1.5% of First Sabrepoint Capital Management LP’s portfolio, making the stock its 23rd largest holding. First Sabrepoint Capital Management LP owned approximately 0.09% of Olin at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its position in shares of Olin by 88.2% in the third quarter. Farther Finance Advisors LLC now owns 589 shares of the specialty chemicals company’s stock worth $28,000 after acquiring an additional 276 shares in the last quarter. nVerses Capital LLC acquired a new stake in Olin in the 2nd quarter valued at $33,000. Covestor Ltd raised its position in 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 during the period. Capital Performance Advisors LLP purchased a new position in Olin in the third quarter valued at about $47,000. Finally, Denver PWM LLC acquired a new position in shares of Olin during the second quarter worth about $59,000. 88.67% of the stock is currently owned by institutional investors and hedge funds.

Olin Price Performance

Shares of OLN opened at $42.19 on Tuesday. The stock has a 50 day moving average of $43.83 and a 200-day moving average of $45.39. Olin Co. has a 52 week low of $39.47 and a 52 week high of $60.60. The firm has a market cap of $4.92 billion, a price-to-earnings ratio of 34.02, a PEG ratio of 1.67 and a beta of 1.43. The company has a current ratio of 1.40, a quick ratio of 0.82 and a debt-to-equity ratio of 1.32.

Olin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Thursday, November 14th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend is Thursday, November 14th. Olin’s dividend payout ratio (DPR) is presently 64.52%.

Analyst Upgrades and Downgrades

OLN has been the topic of several analyst reports. KeyCorp dropped their target price on Olin from $57.00 to $56.00 and set an “overweight” rating on the stock in a report on Monday, October 28th. Piper Sandler dropped their price objective on shares of Olin from $57.00 to $51.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Wells Fargo & Company decreased 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 note on Monday, October 28th. Royal Bank of Canada dropped their price target on shares of Olin from $52.00 to $48.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 29th. Finally, Barclays decreased 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 report on Monday, October 28th. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $51.86.

Insider Transactions at Olin

In other news, VP R Nichole Sumner sold 10,500 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $43.75, for a total transaction of $459,375.00. Following the completion of the transaction, the vice president now owns 24,056 shares in the company, valued at approximately $1,052,450. This represents a 30.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.60% of the company’s stock.

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.