Olin Co. (NYSE:OLN) Shares Bought by Entropy Technologies LP

Entropy Technologies LP raised its stake in Olin Co. (NYSE:OLN) by 460.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 75,631 shares of the specialty chemicals company’s stock after acquiring an additional 62,132 shares during the quarter. Entropy Technologies LP’s holdings in Olin were worth $2,556,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Hotchkis & Wiley Capital Management LLC lifted its holdings in Olin by 6.4% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 8,838,988 shares of the specialty chemicals company’s stock valued at $424,095,000 after acquiring an additional 531,330 shares during the period. Pzena Investment Management LLC increased its position 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 valued at $165,661,000 after buying an additional 685,710 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Olin by 2.9% in 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 buying an additional 37,043 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Olin by 19.2% in 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 buying an additional 172,768 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Olin by 2.4% in the third 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 buying an additional 25,163 shares in the last quarter. 88.67% of the stock is owned by institutional investors and hedge funds.

Olin Stock Performance

Shares of Olin stock opened at $28.23 on Friday. Olin Co. has a 52 week low of $26.48 and a 52 week high of $60.60. The business’s fifty day simple moving average is $34.03 and its 200-day simple moving average is $40.41. The firm has a market cap of $3.29 billion, a PE ratio of 31.37, a price-to-earnings-growth ratio of 0.91 and a beta of 1.45. 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 results on Thursday, January 30th. The specialty chemicals company reported $0.09 EPS for the quarter, beating 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 forecast that Olin Co. will post 1.83 earnings per share for the current year.

Olin announced that its Board of Directors has authorized a stock buyback program on Thursday, December 12th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the specialty chemicals company to buy up to 45% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other news, CEO Kenneth Todd Lane bought 7,250 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were purchased at an average price of $28.06 per share, with a total value of $203,435.00. Following the purchase, the chief executive officer now owns 7,250 shares in the company, valued at approximately $203,435. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently commented on OLN. Morgan Stanley cut their price objective on Olin from $31.00 to $28.00 and set an “underweight” rating for the company in a research report on Tuesday, February 4th. Wells Fargo & Company cut their price objective on Olin from $40.00 to $31.00 and set an “equal weight” rating for the company in a research report on Monday, February 3rd. KeyCorp dropped their price target on Olin from $50.00 to $40.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Citigroup dropped their price target on Olin from $48.00 to $45.00 and set a “buy” rating for the company in a research report on Monday, December 16th. Finally, Bank of America upgraded Olin from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $48.00 to $40.00 in a research report on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $40.94.

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.