B. Riley Wealth Advisors Inc. Has $902,000 Stock Holdings in Olin Co. (NYSE:OLN)

B. Riley Wealth Advisors Inc. reduced its stake in Olin Co. (NYSE:OLN) by 8.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,812 shares of the specialty chemicals company’s stock after selling 1,673 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Olin were worth $902,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Farther Finance Advisors LLC lifted its position in shares of Olin by 88.2% during 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. raised its holdings in shares of Olin by 26.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,534 shares of the specialty chemicals company’s stock worth $75,000 after buying an additional 318 shares in the last quarter. Scott & Selber Inc. lifted its position in shares of Olin by 1.7% during the 2nd quarter. Scott & Selber Inc. now owns 19,206 shares of the specialty chemicals company’s stock worth $906,000 after buying an additional 326 shares during the last quarter. Entropy Technologies LP lifted its position in shares of Olin by 2.5% during the 3rd quarter. Entropy Technologies LP now owns 13,499 shares of the specialty chemicals company’s stock worth $648,000 after buying an additional 332 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in Olin by 3.0% in the third quarter. Nisa Investment Advisors LLC now owns 11,830 shares of the specialty chemicals company’s stock valued at $568,000 after buying an additional 350 shares in the last quarter. 88.67% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on OLN shares. Wells Fargo & Company lowered their price objective on shares of Olin from $48.00 to $44.00 and set an “equal weight” rating for the company in a research report on Monday, October 28th. BMO Capital Markets reduced their price objective on Olin from $50.00 to $47.00 and set a “market perform” rating on the stock in a research report on Tuesday, October 29th. Piper Sandler dropped their target price on Olin from $57.00 to $51.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Barclays cut their price target on Olin from $45.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Friday, December 13th. Finally, KeyCorp cut their target price on shares of Olin from $57.00 to $56.00 and set an “overweight” rating on the stock in a research report on Monday, October 28th. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Olin has a consensus rating of “Hold” and a consensus target price of $50.14.

Olin Stock Performance

OLN stock opened at $35.47 on Wednesday. The firm has a market cap of $4.14 billion, a PE ratio of 28.60, a price-to-earnings-growth ratio of 1.51 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. The stock has a 50-day moving average price of $42.61 and a 200-day moving average price of $44.70. Olin Co. has a 1-year low of $34.85 and a 1-year high of $60.60.

Olin Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Thursday, November 14th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date was Thursday, November 14th. Olin’s payout ratio is 64.52%.

Olin announced that its board has initiated a stock repurchase plan on Thursday, December 12th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the specialty chemicals company to reacquire up to 45% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Insider Transactions at Olin

In related news, VP R Nichole Sumner sold 10,500 shares of the company’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 transaction of $459,375.00. Following the transaction, the vice president now directly owns 24,056 shares of the company’s stock, valued at approximately $1,052,450. This represents a 30.39 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.80% 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.