Harbor Capital Advisors Inc. Boosts Stock Position in Olin Co. (NYSE:OLN)

Harbor Capital Advisors Inc. boosted its stake in Olin Co. (NYSE:OLN) by 125.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 92,011 shares of the specialty chemicals company’s stock after acquiring an additional 51,251 shares during the period. Harbor Capital Advisors Inc. owned 0.08% of Olin worth $4,415,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. SG Americas Securities LLC boosted its holdings in shares of Olin by 1,220.6% in the 2nd quarter. SG Americas Securities LLC now owns 50,050 shares of the specialty chemicals company’s stock valued at $2,360,000 after buying an additional 46,260 shares during the period. Clearbridge Investments LLC increased its position in Olin by 4.8% in the first quarter. Clearbridge Investments LLC now owns 777,658 shares of the specialty chemicals company’s stock worth $45,726,000 after buying an additional 35,637 shares during the period. LRI Investments LLC bought a new stake in Olin in the first quarter valued at $28,000. Seven Eight Capital LP boosted its holdings in shares of Olin by 111.4% during the first quarter. Seven Eight Capital LP now owns 20,416 shares of the specialty chemicals company’s stock valued at $1,200,000 after acquiring an additional 10,760 shares during the period. Finally, Qsemble Capital Management LP bought a new position in shares of Olin during the first quarter worth about $1,315,000. Institutional investors own 88.67% of the company’s stock.

Olin Price Performance

NYSE OLN opened at $40.86 on Monday. The stock has a market capitalization of $4.76 billion, a P/E ratio of 32.95, a P/E/G ratio of 1.66 and a beta of 1.43. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.82 and a current ratio of 1.40. The business’s fifty day moving average is $44.56 and its two-hundred day moving average is $47.61. Olin Co. has a 1 year low of $39.47 and a 1 year high of $60.60.

Olin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Thursday, November 14th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.96%. The ex-dividend date of this dividend is Thursday, November 14th. Olin’s payout ratio is 64.52%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on OLN. Piper Sandler reduced their target price on shares of Olin from $57.00 to $51.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Mizuho initiated coverage on Olin in a research report on Thursday, August 8th. They set a “neutral” rating and a $45.00 price objective for the company. JPMorgan Chase & Co. upgraded Olin from a “neutral” rating to an “overweight” rating and set a $55.00 target price on the stock in a research report on Monday, July 29th. Wells Fargo & Company reduced their price target on Olin from $48.00 to $44.00 and set an “equal weight” rating for the company in a research report on Monday, October 28th. Finally, UBS Group lowered their price target on Olin from $59.00 to $51.00 and set a “neutral” rating on the stock in a report on Tuesday, July 9th. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Olin presently has a consensus rating of “Hold” and a consensus target price of $51.86.

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.