Olin Co. (NYSE:OLN) Shares Sold by Hantz Financial Services Inc.

Hantz Financial Services Inc. reduced its stake in Olin Co. (NYSE:OLN) by 84.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,793 shares of the specialty chemicals company’s stock after selling 14,625 shares during the quarter. Hantz Financial Services Inc.’s holdings in Olin were worth $94,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of OLN. Pzena Investment Management LLC increased its position in Olin by 24.8% during the third quarter. Pzena Investment Management LLC now owns 3,452,708 shares of the specialty chemicals company’s stock worth $165,661,000 after purchasing an additional 685,710 shares during the last quarter. Hotchkis & Wiley Capital Management LLC lifted its position in Olin by 6.4% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 8,838,988 shares of the specialty chemicals company’s stock worth $424,095,000 after acquiring an additional 531,330 shares in the last quarter. Verition Fund Management LLC grew its holdings in Olin by 70.9% during the 3rd quarter. Verition Fund Management LLC now owns 544,814 shares of the specialty chemicals company’s stock valued at $26,140,000 after purchasing an additional 225,930 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Olin by 19.2% during the third quarter. Franklin Resources Inc. now owns 1,073,087 shares of the specialty chemicals company’s stock valued at $51,015,000 after acquiring an additional 172,768 shares in the last quarter. Finally, Holocene Advisors LP grew its stake in Olin by 504.9% during the 3rd quarter. Holocene Advisors LP now owns 167,186 shares of the specialty chemicals company’s stock valued at $8,022,000 after purchasing an additional 139,549 shares in the last quarter. 88.67% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Olin

In related news, VP R Nichole Sumner sold 10,500 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $43.75, for a total transaction of $459,375.00. Following the completion of the sale, the vice president now owns 24,056 shares in the company, valued at $1,052,450. This represents a 30.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on OLN shares. Morgan Stanley decreased their target price on Olin from $41.00 to $31.00 and set an “underweight” rating for the company in a research report on Monday, January 13th. UBS Group dropped their price target on shares of Olin from $35.00 to $34.00 and set a “neutral” rating on the stock in a research note on Friday. Truist Financial assumed coverage on shares of Olin in a research note on Tuesday, January 28th. They set a “hold” rating and a $38.00 price objective on the stock. KeyCorp decreased their price target on Olin from $56.00 to $50.00 and set an “overweight” rating for the company in a research note on Friday, January 10th. Finally, Citigroup lowered their price objective on shares of Olin from $48.00 to $45.00 and set a “buy” rating on the stock in a research note on Monday, December 16th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Olin has an average rating of “Hold” and an average target price of $45.44.

Olin Stock Performance

Shares of OLN stock opened at $29.24 on Friday. The firm has a market cap of $3.41 billion, a P/E ratio of 23.58, a PEG ratio of 0.77 and a beta of 1.48. The stock’s 50-day moving average is $35.52 and its two-hundred day moving average is $41.10. Olin Co. has a fifty-two week low of $28.80 and a fifty-two week high of $60.60. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.40 and a quick ratio of 0.82.

Olin (NYSE:OLN) last issued its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.10. Olin had a net margin of 2.33% and a return on equity of 6.19%. Analysts predict that Olin Co. will post 0.95 earnings per share for the current fiscal year.

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