Versor Investments LP Has $328,000 Holdings in Olin Co. (NYSE:OLN)

Versor Investments LP decreased its holdings in Olin Co. (NYSE:OLN) by 49.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,700 shares of the specialty chemicals company’s stock after selling 9,648 shares during the quarter. Versor Investments LP’s holdings in Olin were worth $328,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of OLN. Blue Trust Inc. raised its position in shares of Olin by 34.3% in the fourth quarter. Blue Trust Inc. now owns 2,887 shares of the specialty chemicals company’s stock valued at $98,000 after buying an additional 738 shares in the last quarter. Harbor Capital Advisors Inc. increased its stake in 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 acquiring an additional 51,051 shares during the period. Segall Bryant & Hamill LLC bought a new position in Olin during the 3rd quarter worth $916,000. Charles Schwab Investment Management Inc. raised its holdings in 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 valued at $62,168,000 after acquiring an additional 37,043 shares in the last quarter. Finally, KBC Group NV lifted its position in shares of Olin by 82.9% during the 4th quarter. KBC Group NV now owns 5,461 shares of the specialty chemicals company’s stock valued at $185,000 after acquiring an additional 2,476 shares during the period. Institutional investors own 88.67% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on OLN. BMO Capital Markets decreased their price target on Olin from $44.00 to $34.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 5th. Citigroup decreased their target price on shares of Olin from $48.00 to $45.00 and set a “buy” rating on the stock in a report on Monday, December 16th. Morgan Stanley cut their price target on shares of Olin from $31.00 to $28.00 and set an “underweight” rating for the company in a report on Tuesday, February 4th. UBS Group set a $28.00 price objective on shares of Olin in a research note on Thursday. Finally, Truist Financial lowered their price objective on shares of Olin from $38.00 to $32.00 and set a “hold” rating for the company in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Olin has an average rating of “Hold” and a consensus target price of $38.38.

Insiders Place Their Bets

In related news, CEO Kenneth Todd Lane acquired 7,250 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The shares were bought at an average cost of $28.06 per share, with a total value of $203,435.00. Following the completion of the purchase, the chief executive officer now directly owns 7,250 shares in the company, valued at $203,435. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.60% of the company’s stock.

Olin Stock Performance

Olin stock opened at $23.90 on Tuesday. The business has a 50 day moving average of $30.47 and a 200-day moving average of $38.52. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.27 and a quick ratio of 0.77. Olin Co. has a 1 year low of $23.86 and a 1 year high of $60.60. The company has a market capitalization of $2.76 billion, a P/E ratio of 26.56 and a beta of 1.45.

Olin (NYSE:OLN) last announced its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.10. Olin had a net margin of 1.66% and a return on equity of 5.10%. On average, equities research analysts predict that Olin Co. will post 1.38 earnings per share for the current year.

Olin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Thursday, March 6th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.35%. The ex-dividend date is Thursday, March 6th. Olin’s dividend payout ratio is currently 88.89%.

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

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.