Olin Co. (NYSE:OLN) Stock Position Raised by Larson Financial Group LLC

Larson Financial Group LLC raised its position in shares of Olin Co. (NYSE:OLN) by 29.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,540 shares of the specialty chemicals company’s stock after purchasing an additional 8,831 shares during the period. Larson Financial Group LLC’s holdings in Olin were worth $1,303,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Farther Finance Advisors LLC raised its stake in shares of Olin by 88.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 589 shares of the specialty chemicals company’s stock valued at $28,000 after acquiring an additional 276 shares in the last quarter. Capital Performance Advisors LLP bought a new position in shares of Olin in the 3rd quarter valued at approximately $47,000. Covestor Ltd raised its stake in shares of Olin by 357.5% in the 3rd quarter. Covestor Ltd now owns 915 shares of the specialty chemicals company’s stock valued at $44,000 after acquiring an additional 715 shares in the last quarter. State of New Jersey Common Pension Fund D raised its stake in shares of Olin by 16.9% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 44,695 shares of the specialty chemicals company’s stock valued at $2,144,000 after acquiring an additional 6,466 shares in the last quarter. Finally, Versor Investments LP raised its stake in shares of Olin by 72.0% in the 3rd quarter. Versor Investments LP now owns 19,348 shares of the specialty chemicals company’s stock valued at $928,000 after acquiring an additional 8,100 shares in the last quarter. 88.67% of the stock is owned by hedge funds and other institutional investors.

Olin Price Performance

Shares of NYSE:OLN opened at $24.43 on Friday. Olin Co. has a 1-year low of $22.98 and a 1-year high of $60.60. The firm has a market capitalization of $2.82 billion, a PE ratio of 27.14 and a beta of 1.61. The business’s 50 day moving average is $29.75 and its 200-day moving average is $38.04. 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 (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 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%. Sell-side analysts predict that Olin Co. will post 1.38 earnings per share for the current year.

Olin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Thursday, March 6th will be given a dividend of $0.20 per share. The ex-dividend date is Thursday, March 6th. This represents a $0.80 annualized dividend and a dividend yield of 3.28%. Olin’s dividend payout ratio (DPR) is presently 88.89%.

Olin declared that its board has approved a stock buyback program on Thursday, December 12th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the specialty chemicals company to reacquire up to 45% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

A number of brokerages recently weighed in on OLN. JPMorgan Chase & Co. downgraded Olin from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $50.00 to $28.00 in a research note on Thursday, February 27th. Royal Bank of Canada downgraded Olin from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from $45.00 to $30.00 in a research note on Tuesday, February 4th. Piper Sandler lowered Olin from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $41.00 to $33.00 in a report on Thursday, February 13th. BMO Capital Markets lowered their target price on Olin from $44.00 to $34.00 and set a “market perform” rating on the stock in a report on Wednesday, February 5th. Finally, Truist Financial lowered their target price on Olin from $38.00 to $32.00 and set a “hold” rating on the stock in a report on Monday, February 3rd. One 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’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $38.38.

Insider Buying and Selling

In related news, CEO Kenneth Todd Lane bought 7,250 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The stock was acquired at an average price of $28.06 per share, for a total transaction of $203,435.00. Following the transaction, the chief executive officer now directly owns 7,250 shares of the company’s stock, valued at $203,435. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.60% of the stock is owned by corporate insiders.

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.