Point72 Asia Singapore Pte. Ltd. Buys 1,594 Shares of Olin Co. (NYSE:OLN)

Point72 Asia Singapore Pte. Ltd. increased its stake in Olin Co. (NYSE:OLN) by 22.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,676 shares of the specialty chemicals company’s stock after acquiring 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.

Several other institutional investors also recently bought and sold shares of OLN. Pzena Investment Management LLC lifted its position in Olin by 24.8% in the third quarter. Pzena Investment Management LLC now owns 3,452,708 shares of the specialty chemicals company’s stock valued at $165,661,000 after purchasing an additional 685,710 shares during the last quarter. AQR Capital Management LLC raised its holdings in Olin by 429.8% during the 2nd quarter. AQR Capital Management LLC now owns 610,153 shares of the specialty chemicals company’s stock valued at $28,769,000 after buying an additional 494,976 shares during the last quarter. Verition Fund Management LLC boosted its position in Olin by 70.9% during the 3rd quarter. Verition Fund Management LLC now owns 544,814 shares of the specialty chemicals company’s stock valued at $26,140,000 after buying an additional 225,930 shares during the period. Dimensional Fund Advisors LP grew its holdings in Olin by 5.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,741,007 shares of the specialty chemicals company’s stock worth $176,396,000 after acquiring an additional 194,755 shares during the last quarter. Finally, Cubist Systematic Strategies LLC increased its position in shares of Olin by 2,778.3% in the second quarter. Cubist Systematic Strategies LLC now owns 168,582 shares of the specialty chemicals company’s stock valued at $7,949,000 after acquiring an additional 162,725 shares during the period. 88.67% of the stock is currently owned by hedge funds and other institutional investors.

Olin Stock Performance

Olin stock opened at $43.45 on Tuesday. The stock’s 50 day moving average is $44.39 and its 200 day moving average is $45.87. The company has a market capitalization of $5.07 billion, a P/E ratio of 35.04, a PEG ratio of 1.72 and a beta of 1.43. Olin Co. has a twelve month low of $39.47 and a twelve month high of $60.60. The company has a quick ratio of 0.82, a current ratio of 1.40 and a debt-to-equity ratio of 1.32.

Olin Dividend Announcement

The business also recently declared 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. The ex-dividend date is Thursday, November 14th. This represents a $0.80 annualized dividend and a dividend yield of 1.84%. Olin’s payout ratio is presently 64.52%.

Insider Transactions at Olin

In other news, VP R Nichole Sumner sold 10,500 shares of the stock in a transaction that occurred 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 $1,052,450. This represents a 30.39 % decrease in their ownership of the stock. 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 insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on OLN. Royal Bank of Canada cut their target price on Olin from $52.00 to $48.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 29th. Barclays reduced their target price on Olin from $49.00 to $45.00 and set an “equal weight” rating on the stock in a research note on Monday, October 28th. Wells Fargo & Company dropped their price target on Olin from $48.00 to $44.00 and set an “equal weight” rating for the company in a research note on Monday, October 28th. Mizuho initiated coverage on shares of Olin in a research report on Thursday, August 8th. They set a “neutral” rating and a $45.00 price objective on the stock. Finally, KeyCorp dropped their target price on shares of Olin from $57.00 to $56.00 and set an “overweight” rating for the company in a research 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. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $51.86.

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.