Kenneth Todd Lane Purchases 7,250 Shares of Olin Co. (NYSE:OLN) Stock

Olin Co. (NYSE:OLN) CEO Kenneth Todd Lane purchased 7,250 shares of the company’s stock in a transaction dated Tuesday, February 4th. The stock was purchased at an average cost of $28.06 per share, for a total transaction of $203,435.00. Following the transaction, the chief executive officer now owns 7,250 shares of the company’s stock, valued at approximately $203,435. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Olin Stock Performance

Olin stock opened at $28.23 on Friday. The company has a current ratio of 1.27, a quick ratio of 0.77 and a debt-to-equity ratio of 1.32. Olin Co. has a 1 year low of $26.48 and a 1 year high of $60.60. The company has a market cap of $3.29 billion, a PE ratio of 31.37, a PEG ratio of 0.69 and a beta of 1.45. The company’s 50-day moving average is $34.32 and its two-hundred day moving average is $40.55.

Olin (NYSE:OLN) last announced its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.10. Olin had a return on equity of 5.10% and a net margin of 1.66%. Equities analysts anticipate that Olin Co. will post 2.47 earnings per share for the current year.

Olin announced that its Board of Directors has approved a stock repurchase program on Thursday, December 12th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the specialty chemicals company to repurchase up to 45% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Institutional Trading of Olin

Several hedge funds have recently bought and sold shares of the stock. Farther Finance Advisors LLC raised 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 last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Olin by 26.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,534 shares of the specialty chemicals company’s stock valued at $75,000 after purchasing an additional 318 shares during the last quarter. Entropy Technologies LP raised its holdings in shares of Olin by 2.5% in the third quarter. Entropy Technologies LP now owns 13,499 shares of the specialty chemicals company’s stock valued at $648,000 after purchasing an additional 332 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Olin by 3.0% in the third quarter. Nisa Investment Advisors LLC now owns 11,830 shares of the specialty chemicals company’s stock valued at $568,000 after purchasing an additional 350 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB raised its holdings in shares of Olin by 9.4% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 5,833 shares of the specialty chemicals company’s stock valued at $197,000 after purchasing an additional 500 shares during the last quarter. 88.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on OLN shares. UBS Group dropped their target price on shares of Olin from $35.00 to $34.00 and set a “neutral” rating on the stock in a research report on Friday, January 31st. Citigroup dropped their target price on shares of Olin from $48.00 to $45.00 and set a “buy” rating on the stock in a research report on Monday, December 16th. Piper Sandler dropped their target price on shares of Olin from $51.00 to $41.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. KeyCorp dropped their target price on shares of Olin from $50.00 to $40.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Finally, Wells Fargo & Company dropped their target price on shares of Olin from $40.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $40.94.

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.