Garner Asset Management Corp Has $938,000 Stake in Olin Co. (NYSE:OLN)

Garner Asset Management Corp trimmed its stake in Olin Co. (NYSE:OLN) by 2.5% in the third quarter, HoldingsChannel.com reports. The firm owned 19,552 shares of the specialty chemicals company’s stock after selling 498 shares during the period. Garner Asset Management Corp’s holdings in Olin were worth $938,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. OLD National Bancorp IN grew its holdings in Olin by 4.2% during the 2nd quarter. OLD National Bancorp IN now owns 6,343 shares of the specialty chemicals company’s stock worth $299,000 after acquiring an additional 253 shares during the period. Farther Finance Advisors LLC grew its holdings in Olin by 88.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 589 shares of the specialty chemicals company’s stock worth $28,000 after acquiring an additional 276 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in 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 acquiring an additional 318 shares during the period. Scott & Selber Inc. grew its holdings in 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 acquiring an additional 326 shares during the period. Finally, Entropy Technologies LP grew its holdings in 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 acquiring an additional 332 shares during the period. 88.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Olin

In other Olin news, VP R Nichole Sumner sold 10,500 shares of Olin stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $43.75, for a total transaction of $459,375.00. Following the transaction, the vice president now owns 24,056 shares of the company’s stock, valued at $1,052,450. This trade represents a 30.39 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.60% of the stock is owned by insiders.

Olin Price Performance

Shares of NYSE OLN opened at $42.87 on Friday. Olin Co. has a fifty-two week low of $39.47 and a fifty-two week high of $60.60. The stock has a market cap of $5.00 billion, a price-to-earnings ratio of 34.57, a PEG ratio of 1.70 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 firm’s 50-day simple moving average is $44.51 and its 200 day simple moving average is $46.49.

Olin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Thursday, November 14th will be given a $0.20 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.80 annualized dividend and a yield of 1.87%. Olin’s payout ratio is 64.52%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Barclays decreased their price target on Olin from $49.00 to $45.00 and set an “equal weight” rating for the company in a report on Monday, October 28th. The Goldman Sachs Group decreased their price target on Olin from $55.00 to $49.00 and set a “neutral” rating for the company in a report on Monday, July 29th. Royal Bank of Canada decreased their price target on Olin from $52.00 to $48.00 and set an “outperform” rating for the company in a report on Tuesday, October 29th. Mizuho started coverage on shares of Olin in a research report on Thursday, August 8th. They set a “neutral” rating and a $45.00 price objective on the stock. Finally, Piper Sandler cut their price objective on shares of Olin from $57.00 to $51.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Olin currently has a consensus rating of “Hold” and a consensus price target 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.