Quantbot Technologies LP Makes New $3.96 Million Investment in Olin Co. (NYSE:OLN)

Quantbot Technologies LP purchased a new stake in Olin Co. (NYSE:OLN) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 117,040 shares of the specialty chemicals company’s stock, valued at approximately $3,956,000.

Several other institutional investors have also modified their holdings of the stock. Empowered Funds LLC increased its holdings in Olin by 126.9% in the 3rd quarter. Empowered Funds LLC now owns 20,498 shares of the specialty chemicals company’s stock valued at $983,000 after purchasing an additional 11,466 shares during the last quarter. Segall Bryant & Hamill LLC acquired a new stake in Olin during the 3rd quarter worth approximately $916,000. Commerce Bank boosted its position in Olin by 48.0% in the 3rd quarter. Commerce Bank now owns 18,069 shares of the specialty chemicals company’s stock valued at $867,000 after buying an additional 5,863 shares during the period. Charles Schwab Investment Management Inc. grew its stake 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 worth $62,168,000 after acquiring an additional 37,043 shares in the last quarter. Finally, Raymond James Trust N.A. purchased a new stake in shares of Olin during the third quarter worth $212,000. Hedge funds and other institutional investors own 88.67% of the company’s stock.

Insider Transactions at Olin

In related news, CEO Kenneth Todd Lane acquired 7,250 shares of Olin stock in a transaction on Tuesday, February 4th. The stock was purchased at an average cost of $28.06 per share, with a total value 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. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.60% of the company’s stock.

Olin Trading Up 0.4 %

NYSE:OLN opened at $24.98 on Friday. The company has a market capitalization of $2.88 billion, a PE ratio of 27.75 and a beta of 1.61. Olin Co. has a 52-week low of $22.98 and a 52-week high of $60.60. The stock’s 50 day moving average price is $28.14 and its 200 day moving average price is $36.75. 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 earnings results on Thursday, January 30th. The specialty chemicals company reported $0.09 earnings per share (EPS) 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, research analysts anticipate that Olin Co. will post 1.38 EPS for the current year.

Olin declared that its board has initiated a share buyback plan on Thursday, December 12th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the specialty chemicals company to reacquire up to 45% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Olin Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, March 6th were issued a $0.20 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.20%. Olin’s payout ratio is 88.89%.

Analyst Upgrades and Downgrades

OLN has been the subject of several analyst reports. Royal Bank of Canada cut Olin from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from $45.00 to $30.00 in a research note on Tuesday, February 4th. Wells Fargo & Company reissued an “equal weight” rating on shares of Olin in a research report on Monday, February 3rd. KeyCorp reduced their target price on shares of Olin from $50.00 to $40.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Barclays reiterated an “equal weight” rating on shares of Olin in a report on Monday, February 3rd. Finally, UBS Group set a $28.00 price objective on shares of Olin in a report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Olin currently has a consensus rating of “Hold” and a consensus target price of $38.38.

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.