Olin Co. (NYSE:OLN) Shares Purchased by Huber Capital Management LLC

Huber Capital Management LLC lifted its position in Olin Co. (NYSE:OLN) by 23.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 186,754 shares of the specialty chemicals company’s stock after acquiring an additional 35,118 shares during the quarter. Olin accounts for approximately 1.3% of Huber Capital Management LLC’s holdings, making the stock its 29th largest position. Huber Capital Management LLC’s holdings in Olin were worth $6,312,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in OLN. Captrust Financial Advisors raised its stake in Olin by 14.4% during the third quarter. Captrust Financial Advisors now owns 4,998 shares of the specialty chemicals company’s stock worth $240,000 after acquiring an additional 630 shares during the period. Paloma Partners Management Co acquired a new stake in shares of Olin during the 3rd quarter worth approximately $330,000. Holocene Advisors LP lifted its holdings in shares of Olin by 504.9% in the 3rd quarter. Holocene Advisors LP now owns 167,186 shares of the specialty chemicals company’s stock worth $8,022,000 after purchasing an additional 139,549 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its position in Olin by 1,052.3% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 53,296 shares of the specialty chemicals company’s stock valued at $2,557,000 after purchasing an additional 48,671 shares during the period. Finally, Polar Asset Management Partners Inc. bought a new position in Olin during the 3rd quarter worth $2,711,000. 88.67% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Olin

In related news, CEO Kenneth Todd Lane purchased 7,250 shares of the stock in a transaction dated Tuesday, February 4th. The shares were acquired at an average cost of $28.06 per share, for a total transaction of $203,435.00. Following the acquisition, the chief executive officer now directly owns 7,250 shares in the company, valued at approximately $203,435. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.60% of the company’s stock.

Olin Price Performance

Shares of NYSE:OLN opened at $24.71 on Thursday. The company’s fifty day moving average is $26.75 and its two-hundred day moving average is $35.76. The company has a market cap of $2.84 billion, a P/E ratio of 27.46 and a beta of 1.61. Olin Co. has a 12-month low of $22.98 and a 12-month high of $60.60. The company has a quick ratio of 0.77, a current ratio of 1.27 and a debt-to-equity ratio of 1.32.

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

Olin declared that its Board of Directors has authorized 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 repurchase up to 45% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Olin Announces Dividend

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

Analyst Ratings Changes

A number of research firms have issued reports on OLN. Citigroup cut their target price on Olin from $34.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday, March 27th. UBS Group set a $28.00 target price on shares of Olin in a research report on Thursday, February 27th. KeyCorp cut their price target on Olin from $50.00 to $40.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Wells Fargo & Company reduced their price objective on Olin from $31.00 to $25.00 and set an “equal weight” rating for the company in a research report on Tuesday. Finally, Barclays reduced their price target on Olin from $34.00 to $28.00 and set an “equal weight” rating for the company in a research report on Tuesday. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, Olin presently has an average rating of “Hold” and a consensus target price of $36.69.

Olin 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.