Bridgewater Associates LP Raises Stock Holdings in Olin Co. (NYSE:OLN)

Bridgewater Associates LP grew its stake in shares of Olin Co. (NYSE:OLN) by 286.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,424 shares of the specialty chemicals company’s stock after buying an additional 41,078 shares during the period. Bridgewater Associates LP’s holdings in Olin were worth $2,659,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Pzena Investment Management LLC lifted its holdings in Olin by 24.8% during the third quarter. Pzena Investment Management LLC now owns 3,452,708 shares of the specialty chemicals company’s stock valued at $165,661,000 after purchasing an additional 685,710 shares in the last quarter. AQR Capital Management LLC raised its position in shares of Olin by 429.8% during the 2nd quarter. AQR Capital Management LLC now owns 610,153 shares of the specialty chemicals company’s stock valued at $28,769,000 after purchasing an additional 494,976 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Olin by 5.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,741,007 shares of the specialty chemicals company’s stock valued at $176,396,000 after buying an additional 194,755 shares in the last quarter. Cubist Systematic Strategies LLC boosted its holdings in Olin by 2,778.3% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 168,582 shares of the specialty chemicals company’s stock worth $7,949,000 after buying an additional 162,725 shares during the period. Finally, Hsbc Holdings PLC increased its stake in Olin by 49.8% in the 2nd quarter. Hsbc Holdings PLC now owns 268,233 shares of the specialty chemicals company’s stock worth $12,737,000 after buying an additional 89,178 shares in the last quarter. 88.67% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Barclays dropped their price objective on Olin from $49.00 to $45.00 and set an “equal weight” rating for the company in a research note on Monday, October 28th. BMO Capital Markets reduced their price objective on shares of Olin from $50.00 to $47.00 and set a “market perform” rating on the stock in a research report on Tuesday, October 29th. Royal Bank of Canada dropped their target price on shares of Olin from $52.00 to $48.00 and set an “outperform” rating for the company in a research report on Tuesday, October 29th. Mizuho initiated coverage on shares of Olin in a research note on Thursday, August 8th. They issued a “neutral” rating and a $45.00 price target on the stock. Finally, Wells Fargo & Company cut their price objective 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. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $51.86.

Olin Stock Down 0.3 %

Shares of OLN opened at $42.59 on Friday. The company has a quick ratio of 0.82, a current ratio of 1.40 and a debt-to-equity ratio of 1.32. The business has a fifty day moving average of $44.41 and a 200 day moving average of $46.03. The company has a market cap of $4.97 billion, a PE ratio of 34.35, a P/E/G ratio of 1.73 and a beta of 1.43. Olin Co. has a 52-week low of $39.47 and a 52-week high of $60.60.

Olin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Thursday, November 14th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.80 annualized dividend and a yield of 1.88%. Olin’s payout ratio is 64.52%.

Insider Buying and Selling

In other news, VP R Nichole Sumner sold 10,500 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was 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 approximately $1,052,450. This represents a 30.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.60% of the stock is currently owned by corporate insiders.

Olin Company Profile

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.