Fruth Investment Management Has $2.49 Million Stock Holdings in Olin Co. (NYSE:OLN)

Fruth Investment Management trimmed its position in Olin Co. (NYSE:OLN) by 2.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 73,795 shares of the specialty chemicals company’s stock after selling 2,100 shares during the quarter. Fruth Investment Management owned about 0.06% of Olin worth $2,494,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. 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 during the last quarter. Pzena Investment Management LLC increased its stake in shares of Olin by 24.8% in 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 period. Charles Schwab Investment Management Inc. lifted its position in shares of Olin by 2.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,295,699 shares of the specialty chemicals company’s stock worth $62,168,000 after purchasing an additional 37,043 shares during the last quarter. Franklin Resources Inc. boosted its stake in Olin by 19.2% during the 3rd quarter. Franklin Resources Inc. now owns 1,073,087 shares of the specialty chemicals company’s stock valued at $51,015,000 after purchasing an additional 172,768 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its stake in Olin by 2.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,061,001 shares of the specialty chemicals company’s stock valued at $50,907,000 after purchasing an additional 25,163 shares during the period. 88.67% of the stock is owned by institutional investors.

Olin Stock Performance

NYSE OLN opened at $26.67 on Thursday. The firm has a market cap of $3.11 billion, a price-to-earnings ratio of 29.63, a PEG ratio of 0.69 and a beta of 1.45. 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 50 day moving average of $34.92 and a 200-day moving average of $40.73.

Olin (NYSE:OLN) last posted its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $0.09 EPS for the quarter, topping 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%. On average, equities analysts forecast that Olin Co. will post 2.47 earnings per share for the current fiscal year.

Olin declared that its board has initiated a stock repurchase plan 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 plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Morgan Stanley cut their price target on Olin from $31.00 to $28.00 and set an “underweight” rating for the company in a report on Tuesday. Truist Financial cut their target price on shares of Olin from $38.00 to $32.00 and set a “hold” rating for the company in a research note on Monday. UBS Group decreased their price target 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. Bank of America raised shares of Olin from a “neutral” rating to a “buy” rating and cut their price objective for the company from $48.00 to $40.00 in a research report on Tuesday, January 14th. Finally, Wells Fargo & Company decreased their target price on Olin from $40.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Monday. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Olin presently has a consensus rating of “Hold” and an average target price of $40.94.

Insiders Place Their Bets

In other Olin news, VP R Nichole Sumner sold 10,500 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $43.75, for a total value of $459,375.00. Following the transaction, the vice president now directly owns 24,056 shares in the company, valued at approximately $1,052,450. This trade represents a 30.39 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.80% of the company’s stock.

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.