1 day Ago By ABMN Staff
Shares of Olin Co. ( NYSE:OLN – Get Free Report ) reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $32.
71 and last traded at $32.78, with a volume of 201789 shares. The stock had previously closed at $33.
52. Wall Street Analyst Weigh In Several research firms recently commented on OLN. 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 note on Wednesday, October 30th. KeyCorp cut their price objective on shares of Olin from $57.
00 to $56.00 and set an “overweight” rating on the stock in a report on Monday, October 28th. BMO Capital Markets lowered their target price on shares of Olin from $50.
00 to $47.00 and set a “market perform” rating for the company in a report on Tuesday, October 29th. Citigroup cut their price target on shares of Olin from $48.
00 to $45.00 and set a “buy” rating on the stock in a research note on Monday, December 16th. Finally, 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 note on Monday, October 28th. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock.
According to data from MarketBeat.com, Olin presently has an average rating of “Hold” and an average target price of $50.14.
Get Our Latest Research Report on OLN Olin Price Performance Olin Announces Dividend The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Thursday, November 14th were paid a dividend of $0.20 per share.
The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.
47%. Olin’s dividend payout ratio is currently 64.52%.
Olin announced that its Board of Directors has authorized a stock repurchase plan on Thursday, December 12th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the specialty chemicals company to purchase up to 45% of its stock through open market purchases.
Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued. Insider Buying and Selling In related news, VP R Nichole Sumner sold 10,500 shares of Olin stock in a transaction on Friday, November 8th. The shares were sold at an average price of $43.
75, for a total value of $459,375.00. Following the completion of the sale, the vice president now owns 24,056 shares in the company, valued at approximately $1,052,450.
The trade was a 30.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link .
Insiders own 1.60% of the company’s stock. Institutional Inflows and Outflows Large investors have recently added to or reduced their stakes in the stock.
Commonwealth Equity Services LLC lifted its position in shares of Olin by 5.5% during the second quarter. Commonwealth Equity Services LLC now owns 28,731 shares of the specialty chemicals company’s stock worth $1,355,000 after purchasing an additional 1,490 shares during the last quarter.
Custom Index Systems LLC acquired a new position in shares of Olin in the 2nd quarter worth approximately $405,000. Quest Partners LLC increased its holdings in shares of Olin by 245,690.0% in the 2nd quarter.
Quest Partners LLC now owns 24,579 shares of the specialty chemicals company’s stock valued at $1,159,000 after acquiring an additional 24,569 shares during the last quarter. Texas Permanent School Fund Corp raised its position in shares of Olin by 31.4% during the 2nd quarter.
Texas Permanent School Fund Corp now owns 138,204 shares of the specialty chemicals company’s stock valued at $6,516,000 after acquiring an additional 33,006 shares in the last quarter. Finally, Headlands Technologies LLC lifted its stake in Olin by 493.6% during the second quarter.
Headlands Technologies LLC now owns 6,993 shares of the specialty chemicals company’s stock worth $330,000 after purchasing an additional 5,815 shares during the last quarter. 88.67% of the stock is currently owned by institutional investors.
Olin Company Profile ( Get Free Report ) 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.
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