Olin Co. (OLN) Shares Sold by Janus Henderson Group PLC
Janus Henderson Group PLC trimmed its position in Olin Co. (NYSE:OLN) by 44.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund 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 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Schwab Charles Investment Management Inc. raised its stake in shares of Olin by 8.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,181,523 shares of the specialty chemicals company’s stock worth $33,934,000 after purchasing an additional 91,380 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Olin by 77.9% in the second quarter. Janney Montgomery Scott LLC now owns 15,414 shares of the specialty chemicals company’s stock worth $443,000 after purchasing an additional 6,749 shares during the last quarter. Balter Liquid Alternatives LLC purchased a new position in shares of Olin in the second quarter worth about $154,000. Financial Engines Advisors L.L.C. raised its stake in shares of Olin by 3.7% in the second quarter. Financial Engines Advisors L.L.C. now owns 75,058 shares of the specialty chemicals company’s stock worth $2,156,000 after purchasing an additional 2,700 shares during the last quarter. Finally, Quantbot Technologies LP raised its stake in shares of Olin by 52.4% in the first quarter. Quantbot Technologies LP now owns 41,602 shares of the specialty chemicals company’s stock worth $1,264,000 after purchasing an additional 14,310 shares during the last quarter. Hedge funds and other institutional investors own 87.61% of the company’s stock.
Olin stock opened at $27.61 on Monday. 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. Olin Co. has a 52 week low of $27.17 and a 52 week high of $38.84. The company has a current ratio of 1.80, a quick ratio of 1.07 and a debt-to-equity ratio of 1.27.
The business also recently announced a quarterly dividend, which was paid on Monday, September 10th. Investors of record on Friday, August 10th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.90%. The ex-dividend date of this dividend was Thursday, August 9th. Olin’s dividend payout ratio (DPR) is 98.77%.
In related news, EVP John L. Mcintosh sold 42,000 shares of the firm’s stock in a transaction dated Wednesday, August 8th. The stock was sold at an average price of $29.98, for a total transaction of $1,259,160.00. Following the sale, the executive vice president now directly owns 97,141 shares of the company’s stock, valued at $2,912,287.18. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.70% of the stock is owned by company insiders.
OLN has been the subject of several research analyst reports. TheStreet upgraded Olin from a “c+” rating to a “b” rating in a research note on Wednesday, August 1st. Citigroup dropped their target price on Olin from $38.00 to $35.00 and set a “buy” rating on the stock in a report on Wednesday, July 11th. Standpoint Research assumed coverage on Olin in a report on Tuesday, August 28th. They set a “buy” rating and a $20.00 target price on the stock. Cowen raised their target price on Olin from $41.00 to $42.00 and gave the stock an “outperform” rating in a report on Monday, August 6th. Finally, Susquehanna Bancshares raised their target price on Olin from $37.00 to $40.00 and gave the stock a “positive” rating in a report on Thursday, August 2nd. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the stock. Olin has an average rating of “Buy” and a consensus target price of $36.38.
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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