XTX Topco Ltd Boosts Stake in Olin Co. (NYSE:OLN)

XTX Topco Ltd increased its stake in shares of Olin Co. (NYSE:OLN) by 154.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,991 shares of the specialty chemicals company’s stock after buying an additional 31,591 shares during the quarter. XTX Topco Ltd’s holdings in Olin were worth $2,495,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its holdings in shares of Olin by 88.2% in the third quarter. Farther Finance Advisors LLC now owns 589 shares of the specialty chemicals company’s stock valued at $28,000 after purchasing an additional 276 shares during the period. nVerses Capital LLC purchased a new stake in Olin in the second quarter valued at approximately $33,000. Covestor Ltd increased its holdings in Olin by 357.5% in the 3rd quarter. Covestor Ltd now owns 915 shares of the specialty chemicals company’s stock worth $44,000 after buying an additional 715 shares during the period. Capital Performance Advisors LLP purchased a new position in Olin during the 3rd quarter worth approximately $47,000. Finally, Denver PWM LLC acquired a new stake in Olin during the 2nd quarter valued at approximately $59,000. Hedge funds and other institutional investors own 88.67% of the company’s stock.

Analyst Ratings Changes

OLN has been the topic of a number of research reports. BMO Capital Markets cut 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 note on Tuesday, October 29th. Royal Bank of Canada reduced their price objective on Olin from $52.00 to $48.00 and set an “outperform” rating for the company in a research note on Tuesday, October 29th. Piper Sandler decreased their price objective on Olin from $57.00 to $51.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Barclays dropped their target price on Olin from $49.00 to $45.00 and set an “equal weight” rating on the stock in a report on Monday, October 28th. Finally, Wells Fargo & Company decreased their price target on Olin from $48.00 to $44.00 and set an “equal weight” rating for the company in a report on Monday, October 28th. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $51.86.

Insider Buying and Selling

In other news, VP R Nichole Sumner sold 10,500 shares of the company’s stock in a transaction 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 completion of the sale, the vice president now owns 24,056 shares of the company’s stock, valued at $1,052,450. This represents a 30.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.60% of the stock is currently owned by insiders.

Olin Stock Performance

OLN opened at $41.27 on Friday. The firm’s fifty day simple moving average is $43.94 and its two-hundred day simple moving average is $45.60. Olin Co. has a 52-week low of $39.47 and a 52-week high of $60.60. The company has a market cap of $4.81 billion, a price-to-earnings ratio of 33.28, a PEG ratio of 1.69 and a beta of 1.43. The company has a quick ratio of 0.82, a current ratio of 1.40 and a debt-to-equity ratio of 1.32.

Olin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Thursday, November 14th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date of this dividend is Thursday, November 14th. Olin’s dividend payout ratio is presently 64.52%.

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.