Healthcare of Ontario Pension Plan Trust Fund Trims Stake in Olin Co. (NYSE:OLN)

Healthcare of Ontario Pension Plan Trust Fund trimmed its stake in Olin Co. (NYSE:OLN) by 12.4% in the 3rd quarter, HoldingsChannel reports. The firm owned 412,738 shares of the specialty chemicals company’s stock after selling 58,462 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Olin were worth $19,915,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Strategic Blueprint LLC purchased a new stake in shares of Olin in the 2nd quarter worth $33,000. Total Clarity Wealth Management Inc. purchased a new stake in Olin in the 3rd quarter worth $39,000. Koshinski Asset Management Inc. purchased a new stake in Olin in the 3rd quarter worth $47,000. Ancora Advisors LLC increased its stake in Olin by 177.8% in the 2nd quarter. Ancora Advisors LLC now owns 1,250 shares of the specialty chemicals company’s stock worth $58,000 after buying an additional 800 shares in the last quarter. Finally, Global Retirement Partners LLC increased its stake in Olin by 14.5% in the 3rd quarter. Global Retirement Partners LLC now owns 1,427 shares of the specialty chemicals company’s stock worth $69,000 after buying an additional 181 shares in the last quarter. Hedge funds and other institutional investors own 84.64% of the company’s stock.

Shares of OLN opened at $55.47 on Friday. The company has a market cap of $8.84 billion, a price-to-earnings ratio of 9.48 and a beta of 1.39. Olin Co. has a twelve month low of $22.76 and a twelve month high of $64.76. The company has a quick ratio of 0.93, a current ratio of 1.45 and a debt-to-equity ratio of 1.18. The company has a 50 day moving average of $57.13 and a two-hundred day moving average of $51.52.

Olin (NYSE:OLN) last posted its quarterly earnings data on Wednesday, October 20th. The specialty chemicals company reported $2.40 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.08 by $0.32. Olin had a net margin of 11.77% and a return on equity of 47.48%. The business had revenue of $2.34 billion during the quarter, compared to the consensus estimate of $2.38 billion. During the same period in the previous year, the firm posted ($0.20) earnings per share. On average, sell-side analysts expect that Olin Co. will post 8.7 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 10th. Stockholders of record on Wednesday, November 10th were paid a dividend of $0.20 per share. The ex-dividend date was Tuesday, November 9th. This represents a $0.80 annualized dividend and a dividend yield of 1.44%. Olin’s payout ratio is currently 13.68%.

In related news, Director W Anthony Will bought 10,000 shares of the business’s stock in a transaction dated Wednesday, November 3rd. The stock was acquired at an average price of $61.35 per share, with a total value of $613,500.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO James A. Varilek sold 91,005 shares of the business’s stock in a transaction dated Wednesday, November 3rd. The stock was sold at an average price of $60.78, for a total transaction of $5,531,283.90. The disclosure for this sale can be found here. Insiders own 11.90% of the company’s stock.

A number of brokerages have issued reports on OLN. KeyCorp increased their price target on Olin from $59.00 to $64.00 and gave the stock an “overweight” rating in a research note on Monday, October 25th. Wells Fargo & Company reissued a “buy” rating on shares of Olin in a report on Thursday, December 9th. Bank of America increased their price objective on shares of Olin from $65.00 to $67.00 and gave the company a “buy” rating in a report on Monday, October 18th. Alembic Global Advisors reissued a “buy” rating and set a $84.00 price objective on shares of Olin in a report on Monday, November 1st. Finally, Zacks Investment Research downgraded shares of Olin from a “buy” rating to a “hold” rating and set a $60.00 price objective for the company. in a report on Monday, January 3rd. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $66.73.

Olin Company Profile

Olin Corp. engages in manufacturing of chemicals products. It operates through the following segments: Chlor Alkali Products and Vinyls, Epoxy, and Winchester. The Chlor Alkali Products and Vinyls segment manufactures and sells chlorine and caustic soda, ethylene dichloride and vinyl chloride monomer, methyl chloride, methylene chloride, chloroform, carbon tetrachloride, perchloroethylene, trichloroethylene and vinylidene chloride, hydrochloric acid, hydrogen, bleach products and potassium hydroxide.

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Institutional Ownership by Quarter for Olin (NYSE:OLN)

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