Olin Co. (NYSE:OLN) Shares Acquired by Xponance Inc.

Xponance Inc. boosted its position in shares of Olin Co. (NYSE:OLN) by 5.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,435 shares of the specialty chemicals company’s stock after buying an additional 754 shares during the quarter. Xponance Inc.’s holdings in Olin were worth $454,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Spire Wealth Management boosted its position in shares of Olin by 246.8% during the 4th quarter. Spire Wealth Management now owns 1,616 shares of the specialty chemicals company’s stock valued at $55,000 after purchasing an additional 1,150 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in Olin by 59.9% during the fourth quarter. Jones Financial Companies Lllp now owns 2,431 shares of the specialty chemicals company’s stock valued at $82,000 after purchasing an additional 911 shares during the last quarter. Blue Trust Inc. boosted its holdings in Olin by 34.3% during the fourth quarter. Blue Trust Inc. now owns 2,887 shares of the specialty chemicals company’s stock worth $98,000 after buying an additional 738 shares in the last quarter. Crews Bank & Trust acquired a new position in Olin in the fourth quarter worth approximately $153,000. Finally, KBC Group NV increased its holdings in shares of Olin by 82.9% in the fourth quarter. KBC Group NV now owns 5,461 shares of the specialty chemicals company’s stock valued at $185,000 after buying an additional 2,476 shares in the last quarter. 88.67% of the stock is owned by institutional investors and hedge funds.

Olin Trading Up 0.1 %

Shares of NYSE OLN opened at $24.76 on Thursday. The business has a 50 day simple moving average of $27.68 and a 200 day simple moving average of $36.35. Olin Co. has a 52 week low of $22.98 and a 52 week high of $60.60. The stock has a market cap of $2.86 billion, a price-to-earnings ratio of 27.51 and a beta of 1.61. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.77 and a current ratio of 1.27.

Olin (NYSE:OLN) last posted its earnings results on Thursday, January 30th. The specialty chemicals company reported $0.09 EPS for the quarter, topping 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, research analysts predict that Olin Co. will post 1.38 earnings per share for the current fiscal year.

Olin declared that its board has approved a share buyback plan on Thursday, December 12th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the specialty chemicals company to reacquire up to 45% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Olin Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, March 6th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $0.80 annualized dividend and a yield of 3.23%. Olin’s dividend payout ratio (DPR) is currently 88.89%.

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 acquired at an average cost of $28.06 per share, with a total value of $203,435.00. Following the purchase, the chief executive officer now owns 7,250 shares of the company’s stock, valued at approximately $203,435. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on OLN. Morgan Stanley decreased their target price on Olin from $31.00 to $28.00 and set an “underweight” rating on the stock in a report on Tuesday, February 4th. Piper Sandler cut Olin from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $41.00 to $33.00 in a research note on Thursday, February 13th. Wells Fargo & Company reiterated an “equal weight” rating on shares of Olin in a report on Monday, February 3rd. KeyCorp cut their price target on shares of Olin from $50.00 to $40.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Finally, BMO Capital Markets decreased their price objective on shares of Olin from $44.00 to $34.00 and set a “market perform” rating for the company in a research note on Wednesday, February 5th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $38.38.

Olin Company 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.