Janus Henderson Group PLC decreased its position in shares of Olin Co. (NYSE:OLN) by 44.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,000 shares of the specialty chemicals company’s stock after selling 10,200 shares during the quarter. Janus Henderson Group PLC’s holdings in Olin were worth $373,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of OLN. Balter Liquid Alternatives LLC bought a new position in shares of Olin during the 2nd quarter worth $154,000. GWM Advisors LLC bought a new position in shares of Olin during the 1st quarter worth $221,000. WINTON GROUP Ltd bought a new stake in Olin during the first quarter valued at about $222,000. FDx Advisors Inc. bought a new stake in Olin during the second quarter valued at about $305,000. Finally, Strs Ohio bought a new stake in Olin during the second quarter valued at about $319,000. 87.61% of the stock is currently owned by institutional investors and hedge funds.
Shares of OLN stock opened at $27.61 on Monday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.07 and a current ratio of 1.80. Olin Co. has a 1-year low of $27.17 and a 1-year high of $38.84. The stock has a market cap of $4.61 billion, a P/E ratio of 34.09, a P/E/G ratio of 0.52 and a beta of 1.49.
The firm also recently declared a quarterly dividend, which was paid on Monday, September 10th. Shareholders of record on Friday, August 10th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date of this dividend was Thursday, August 9th. Olin’s dividend payout ratio (DPR) is presently 98.77%.
In other Olin news, EVP John L. Mcintosh sold 42,000 shares of the stock in a transaction dated Wednesday, August 8th. The stock was sold at an average price of $29.98, for a total value of $1,259,160.00. Following the completion of the sale, the executive vice president now directly owns 97,141 shares in the company, valued at $2,912,287.18. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.70% of the company’s stock.
A number of equities research analysts recently weighed in on the company. Cowen raised their price objective on Olin from $41.00 to $42.00 and gave the company an “outperform” rating in a research report on Monday, August 6th. TheStreet raised Olin from a “c+” rating to a “b” rating in a research report on Wednesday, August 1st. Zacks Investment Research downgraded Olin from a “hold” rating to a “sell” rating in a research report on Tuesday, July 17th. Standpoint Research assumed coverage on Olin in a research report on Tuesday, August 28th. They set a “buy” rating and a $20.00 price objective on the stock. Finally, Royal Bank of Canada downgraded Olin from an “outperform” rating to a “sector perform” rating and dropped their price objective for the company from $38.85 to $27.79 in a research report on Monday, June 11th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $36.38.
Olin Company Profile
Olin Corporation manufactures and distributes chemical products in the United States and internationally. 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, trichloroethylene and vinylidene chloride, hydrochloric acid, hydrogen, bleach products, and potassium hydroxide.
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