180 Wealth Advisors LLC Trims Position in Olin Co. (NYSE:OLN)

180 Wealth Advisors LLC lessened its holdings in shares of Olin Co. (NYSE:OLN) by 25.5% during the fourth quarter, HoldingsChannel reports. The firm owned 7,164 shares of the specialty chemicals company’s stock after selling 2,453 shares during the quarter. 180 Wealth Advisors LLC’s holdings in Olin were worth $242,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Harbor Capital Advisors Inc. lifted its stake in shares of Olin by 55.5% during the 4th quarter. Harbor Capital Advisors Inc. now owns 143,062 shares of the specialty chemicals company’s stock worth $4,835,000 after purchasing an additional 51,051 shares during the period. Segall Bryant & Hamill LLC purchased a new position in shares of Olin in the 3rd quarter worth $916,000. Charles Schwab Investment Management Inc. raised its position in shares of Olin by 2.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,295,699 shares of the specialty chemicals company’s stock worth $62,168,000 after buying an additional 37,043 shares during the period. Magnetar Financial LLC purchased a new position in shares of Olin in the 2nd quarter worth $2,350,000. Finally, Canada Pension Plan Investment Board raised its position in shares of Olin by 846.7% in the 2nd quarter. Canada Pension Plan Investment Board now owns 14,200 shares of the specialty chemicals company’s stock worth $670,000 after buying an additional 12,700 shares during the period. Hedge funds and other institutional investors own 88.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Morgan Stanley cut their target price on Olin from $41.00 to $31.00 and set an “underweight” rating on the stock in a research report on Monday. Barclays cut their target price on Olin from $45.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Friday, December 13th. Royal Bank of Canada cut their target price on Olin from $52.00 to $48.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 29th. KeyCorp cut their price objective on Olin from $56.00 to $50.00 and set an “overweight” rating on the stock in a research report on Friday, January 10th. Finally, Bank of America raised Olin from a “neutral” rating to a “buy” rating and cut their price objective for the company from $48.00 to $40.00 in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $47.07.

Insider Activity

In related news, VP R Nichole Sumner sold 10,500 shares of Olin stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $43.75, for a total value of $459,375.00. Following the completion of the transaction, the vice president now directly owns 24,056 shares in the company, valued at approximately $1,052,450. This trade represents a 30.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.60% of the company’s stock.

Olin Stock Up 2.4 %

Shares of Olin stock opened at $33.49 on Thursday. The business has a 50-day moving average of $37.80 and a 200-day moving average of $42.27. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.40 and a quick ratio of 0.82. The company has a market capitalization of $3.90 billion, a PE ratio of 27.01, a P/E/G ratio of 1.51 and a beta of 1.48. Olin Co. has a 1-year low of $30.69 and a 1-year high of $60.60.

Olin Announces Dividend

The firm also recently announced 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 annualized dividend and a dividend yield of 2.39%. Olin’s dividend payout ratio is presently 64.52%.

Olin declared that its board has approved a share buyback program on Thursday, December 12th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the specialty chemicals company to repurchase up to 45% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Olin 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.