Commerce Bank Raises Position in Olin Co. (NYSE:OLN)

Commerce Bank raised its holdings in shares of Olin Co. (NYSE:OLN) by 39.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,981 shares of the specialty chemicals company’s stock after acquiring an additional 3,924 shares during the quarter. Commerce Bank’s holdings in Olin were worth $674,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of OLN. Rockefeller Capital Management L.P. boosted its stake in shares of Olin by 284.2% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 28,881 shares of the specialty chemicals company’s stock worth $1,336,000 after acquiring an additional 21,364 shares during the last quarter. Citigroup Inc. raised its position in shares of Olin by 177.1% during the 2nd quarter. Citigroup Inc. now owns 58,593 shares of the specialty chemicals company’s stock valued at $2,711,000 after purchasing an additional 37,449 shares during the period. BNP Paribas Arbitrage SA raised its position in shares of Olin by 48.1% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 68,812 shares of the specialty chemicals company’s stock valued at $3,183,000 after purchasing an additional 22,355 shares during the period. Cambridge Investment Research Advisors Inc. raised its position in shares of Olin by 41.6% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 16,788 shares of the specialty chemicals company’s stock valued at $777,000 after purchasing an additional 4,930 shares during the period. Finally, Cigna Investments Inc. New bought a new stake in shares of Olin during the 2nd quarter valued at $208,000. Institutional investors and hedge funds own 84.64% of the company’s stock.

In other Olin news, COO James A. Varilek sold 91,005 shares of the business’s stock in a transaction dated Wednesday, November 3rd. The shares were sold at an average price of $60.78, for a total value of $5,531,283.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director W Anthony Will acquired 10,000 shares of the stock in a transaction on Wednesday, November 3rd. The stock was bought at an average cost of $61.35 per share, with a total value of $613,500.00. The disclosure for this purchase can be found here. 11.90% of the stock is owned by insiders.

Several brokerages have recently commented on OLN. Citigroup restated a “buy” rating and set a $66.00 price objective (up from $64.00) on shares of Olin in a research report on Monday, October 25th. Wells Fargo & Company reiterated a “buy” rating on shares of Olin in a report on Thursday, December 9th. Barclays lifted their price target on shares of Olin from $54.00 to $61.00 and gave the company an “equal weight” rating in a report on Monday, October 25th. Piper Sandler boosted their target price on shares of Olin from $70.00 to $80.00 and gave the stock an “overweight” rating in a report on Thursday, October 28th. Finally, Morgan Stanley reduced their target price on shares of Olin from $60.00 to $58.00 and set an “equal weight” rating on the stock in a report on Tuesday. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $66.73.

OLN stock opened at $55.47 on Friday. Olin Co. has a 12 month low of $22.76 and a 12 month high of $64.76. The company has a current ratio of 1.45, a quick ratio of 0.93 and a debt-to-equity ratio of 1.18. The company has a 50-day moving average price of $57.13 and a 200 day moving average price of $51.52. The stock has a market cap of $8.84 billion, a PE ratio of 9.48 and a beta of 1.39.

Olin (NYSE:OLN) last released its quarterly earnings data on Wednesday, October 20th. The specialty chemicals company reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.32. The company had revenue of $2.34 billion during the quarter, compared to analysts’ expectations of $2.38 billion. Olin had a net margin of 11.77% and a return on equity of 47.48%. During the same period in the previous year, the company earned ($0.20) EPS. Sell-side analysts forecast 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. Shareholders of record on Wednesday, November 10th were given a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, November 9th. This represents a $0.80 annualized dividend and a yield of 1.44%. Olin’s dividend payout ratio (DPR) is 13.68%.

About Olin

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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