Corient Private Wealth LLC Purchases 1,374 Shares of Olin Co. (NYSE:OLN)

Corient Private Wealth LLC grew its position in shares of Olin Co. (NYSE:OLN) by 6.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,724 shares of the specialty chemicals company’s stock after purchasing an additional 1,374 shares during the quarter. Corient Private Wealth LLC’s holdings in Olin were worth $734,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of OLN. Charles Schwab Investment Management Inc. grew its position in Olin by 2.9% during the third 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 during the last quarter. Raymond James Trust N.A. bought a new position in shares of Olin during the 3rd quarter valued at $212,000. Cerity Partners LLC raised its position in Olin by 116.7% in the 3rd quarter. Cerity Partners LLC now owns 115,779 shares of the specialty chemicals company’s stock worth $5,555,000 after purchasing an additional 62,352 shares during the period. Bridgewater Associates LP lifted its stake in Olin by 286.3% in the third quarter. Bridgewater Associates LP now owns 55,424 shares of the specialty chemicals company’s stock worth $2,659,000 after purchasing an additional 41,078 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Olin during the third quarter valued at about $1,522,000. 88.67% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Olin

In other news, CEO Kenneth Todd Lane purchased 7,250 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The shares were bought at an average price of $28.06 per share, for a total transaction of $203,435.00. Following the purchase, the chief executive officer now directly owns 7,250 shares in the company, valued at approximately $203,435. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.60% of the company’s stock.

Olin Stock Performance

Shares of OLN stock opened at $25.23 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. The company’s fifty day moving average price is $27.51 and its 200-day moving average price is $36.27. The stock has a market cap of $2.91 billion, a PE ratio of 28.04 and a beta of 1.61. Olin Co. has a 12 month low of $22.98 and a 12 month high of $60.60.

Olin (NYSE:OLN) last announced its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates 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 analysts expect that Olin Co. will post 1.38 EPS for the current fiscal year.

Olin declared that its Board of Directors has initiated a stock repurchase program 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 stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

Olin Announces Dividend

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 $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.17%. The ex-dividend date was Thursday, March 6th. Olin’s dividend payout ratio (DPR) is 88.89%.

Analyst Ratings Changes

Several research firms have recently commented on OLN. JPMorgan Chase & Co. downgraded Olin from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $50.00 to $28.00 in a report on Thursday, February 27th. UBS Group set a $28.00 price objective on Olin in a research report on Thursday, February 27th. Morgan Stanley cut their target price on shares of Olin from $31.00 to $28.00 and set an “underweight” rating on the stock in a report on Tuesday, February 4th. Citigroup lowered their price target on shares of Olin from $34.00 to $30.00 and set a “buy” rating for the company in a report on Thursday. Finally, Barclays reissued an “equal weight” rating on shares of Olin in a 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. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $37.44.

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.