Sigma Planning Corp Reduces Stock Holdings in Olin Co. (NYSE:OLN)

Sigma Planning Corp trimmed its holdings in Olin Co. (NYSE:OLNFree Report) by 29.6% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 4,054 shares of the specialty chemicals company’s stock after selling 1,705 shares during the quarter. Sigma Planning Corp’s holdings in Olin were worth $203,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Prospera Financial Services Inc increased its holdings in Olin by 3.7% in the 2nd quarter. Prospera Financial Services Inc now owns 8,872 shares of the specialty chemicals company’s stock worth $456,000 after buying an additional 318 shares in the last quarter. Lmcg Investments LLC boosted its position in Olin by 10.2% in the second quarter. Lmcg Investments LLC now owns 59,637 shares of the specialty chemicals company’s stock worth $3,065,000 after purchasing an additional 5,500 shares during the last quarter. Renaissance Technologies LLC boosted its position in Olin by 12.2% in the second quarter. Renaissance Technologies LLC now owns 729,900 shares of the specialty chemicals company’s stock worth $37,510,000 after purchasing an additional 79,600 shares during the last quarter. Geode Capital Management LLC boosted its position in Olin by 4.0% in the second quarter. Geode Capital Management LLC now owns 1,838,733 shares of the specialty chemicals company’s stock worth $94,493,000 after purchasing an additional 71,298 shares during the last quarter. Finally, Guggenheim Capital LLC boosted its position in Olin by 2.3% in the second quarter. Guggenheim Capital LLC now owns 35,404 shares of the specialty chemicals company’s stock worth $1,819,000 after purchasing an additional 780 shares during the last quarter. 85.69% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Olin news, CEO Scott Mcdougald Sutton sold 539,328 shares of Olin stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $53.96, for a total value of $29,102,138.88. Following the sale, the chief executive officer now owns 47,620 shares of the company’s stock, valued at approximately $2,569,575.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Olin news, CEO Scott Mcdougald Sutton sold 539,328 shares of Olin stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $53.96, for a total value of $29,102,138.88. Following the sale, the chief executive officer now owns 47,620 shares of the company’s stock, valued at approximately $2,569,575.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Valerie A. Peters sold 71,800 shares of the business’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $52.52, for a total value of $3,770,936.00. Following the transaction, the vice president now directly owns 19,469 shares in the company, valued at approximately $1,022,511.88. The disclosure for this sale can be found here. Insiders have sold a total of 674,378 shares of company stock valued at $36,298,062 in the last quarter. 1.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

OLN has been the topic of several research reports. Deutsche Bank Aktiengesellschaft initiated coverage on Olin in a research report on Thursday, December 7th. They issued a “hold” rating and a $52.00 target price on the stock. UBS Group lifted their price objective on Olin from $56.00 to $58.00 and gave the company a “neutral” rating in a research report on Friday, January 26th. Stifel Nicolaus lifted their price objective on Olin from $65.00 to $66.00 and gave the company a “buy” rating in a research report on Monday, January 29th. The Goldman Sachs Group lifted their price objective on Olin from $55.00 to $61.00 and gave the company a “neutral” rating in a research report on Tuesday, January 30th. Finally, Piper Sandler lowered their price objective on Olin from $70.00 to $60.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 11th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Olin has an average rating of “Hold” and an average target price of $56.27.

Get Our Latest Analysis on Olin

Olin Stock Up 1.6 %

NYSE OLN opened at $50.63 on Wednesday. The stock’s 50 day moving average is $51.74 and its 200 day moving average is $50.93. The company has a current ratio of 1.29, a quick ratio of 0.73 and a debt-to-equity ratio of 1.14. Olin Co. has a 12 month low of $41.71 and a 12 month high of $63.06. The stock has a market cap of $6.20 billion, a PE ratio of 14.30, a P/E/G ratio of 0.28 and a beta of 1.44.

Olin Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Olin (NYSE:OLN)

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