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

Vanguard Group Inc. increased its stake in shares of Olin Co. (NYSE:OLN) by 0.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,502,980 shares of the specialty chemicals company’s stock after purchasing an additional 19,920 shares during the period. Vanguard Group Inc. owned 0.10% of Olin worth $388,801,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Blue Trust Inc. raised its holdings 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 worth $98,000 after acquiring an additional 738 shares during the last quarter. Harbor Capital Advisors Inc. grew its holdings in shares of Olin by 55.5% during the fourth quarter. Harbor Capital Advisors Inc. now owns 143,062 shares of the specialty chemicals company’s stock worth $4,835,000 after buying an additional 51,051 shares in the last quarter. KBC Group NV raised its position 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 during the last quarter. Mariner Investment Group LLC purchased a new position in shares of Olin during the fourth quarter valued at approximately $355,000. Finally, Barclays PLC grew its stake in Olin by 37.7% in the 3rd quarter. Barclays PLC now owns 125,913 shares of the specialty chemicals company’s stock worth $6,042,000 after acquiring an additional 34,485 shares during the period. Hedge funds and other institutional investors own 88.67% of the company’s stock.

Insider Activity

In other Olin news, CEO Kenneth Todd Lane bought 7,250 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 7,250 shares in the company, valued at $203,435. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

OLN has been the topic of a number of recent analyst reports. Truist Financial reduced their price target on Olin from $38.00 to $32.00 and set a “hold” rating on the stock in a research note on Monday, February 3rd. Bank of America raised Olin from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $48.00 to $40.00 in a research note on Tuesday, January 14th. UBS Group set a $28.00 price objective on shares of Olin in a research note on Thursday, February 27th. JPMorgan Chase & Co. cut shares of Olin from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $50.00 to $28.00 in a research report on Thursday, February 27th. Finally, Wells Fargo & Company dropped their price target on shares of Olin from $31.00 to $25.00 and set an “equal weight” rating for the company in a research report on Tuesday. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $36.69.

Olin Stock Up 3.9 %

Shares of Olin stock opened at $24.71 on Thursday. Olin Co. has a twelve month low of $22.98 and a twelve month high of $60.60. The stock has a market cap of $2.84 billion, a price-to-earnings ratio of 27.46 and a beta of 1.61. The company has a current ratio of 1.27, a quick ratio of 0.77 and a debt-to-equity ratio of 1.32. The company has a fifty day moving average price of $26.75 and a 200 day moving average price of $35.76.

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

Olin announced that its board has initiated a stock repurchase program on Thursday, December 12th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows 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 leadership believes its shares are undervalued.

Olin Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, March 6th were paid a dividend of $0.20 per share. The ex-dividend date was Thursday, March 6th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.24%. Olin’s dividend payout ratio is currently 88.89%.

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.