Kraematon Investment Advisors Inc. Decreases Stake in Olin Co. (NYSE:OLN)

Kraematon Investment Advisors Inc. cut its holdings in shares of Olin Co. (NYSE:OLN) by 4.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 28,219 shares of the specialty chemicals company’s stock after selling 1,174 shares during the quarter. Kraematon Investment Advisors Inc.’s holdings in Olin were worth $954,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hotchkis & Wiley Capital Management LLC raised its position in shares of 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 purchasing an additional 531,330 shares during the period. Dimensional Fund Advisors LP raised its holdings in Olin by 5.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,741,007 shares of the specialty chemicals company’s stock valued at $176,396,000 after acquiring an additional 194,755 shares during the period. Pzena Investment Management LLC lifted its position in shares of Olin by 24.8% during 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 acquiring an additional 685,710 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake 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 valued at $62,168,000 after purchasing an additional 37,043 shares during the period. Finally, Franklin Resources Inc. boosted its stake in Olin by 19.2% in the 3rd quarter. Franklin Resources Inc. now owns 1,073,087 shares of the specialty chemicals company’s stock worth $51,015,000 after purchasing an additional 172,768 shares during the period. Institutional investors own 88.67% of the company’s stock.

Analyst Upgrades and Downgrades

OLN has been the subject of several recent analyst reports. Wells Fargo & Company reduced their price objective on shares of Olin from $48.00 to $44.00 and set an “equal weight” rating for the company in a research note on Monday, October 28th. Bank of America upgraded Olin from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $48.00 to $40.00 in a research report on Tuesday. KeyCorp cut their price objective on Olin from $56.00 to $50.00 and set an “overweight” rating for the company in a report on Friday, January 10th. Barclays lowered their target price on shares of Olin from $45.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Friday, December 13th. Finally, Piper Sandler cut their price target on shares of Olin from $51.00 to $41.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. One analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $47.07.

Insider Buying and Selling

In other news, VP R Nichole Sumner sold 10,500 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $43.75, for a total transaction of $459,375.00. Following the completion of the sale, the vice president now owns 24,056 shares of the company’s stock, valued at approximately $1,052,450. This represents a 30.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.80% of the stock is owned by corporate insiders.

Olin Stock Performance

Olin stock opened at $33.58 on Friday. The firm has a fifty day simple moving average of $37.61 and a two-hundred day simple moving average of $42.21. Olin Co. has a twelve month low of $30.69 and a twelve month high of $60.60. The company has a market capitalization of $3.92 billion, a PE ratio of 27.08, a P/E/G ratio of 0.48 and a beta of 1.48. The company has a quick ratio of 0.82, a current ratio of 1.40 and a debt-to-equity ratio of 1.32.

Olin Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Thursday, November 14th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.38%. The ex-dividend date of this dividend was Thursday, November 14th. Olin’s dividend payout ratio is presently 64.52%.

Olin announced that its Board of Directors has authorized a stock buyback plan on Thursday, December 12th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the specialty chemicals company to buy up to 45% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

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.