Robotti Robert Decreases Stock Holdings in Olin Co. (NYSE:OLN)

Robotti Robert lessened its stake in Olin Co. (NYSE:OLN) by 0.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 112,622 shares of the specialty chemicals company’s stock after selling 574 shares during the quarter. Olin makes up about 0.7% of Robotti Robert’s portfolio, making the stock its 29th biggest holding. Robotti Robert owned 0.10% of Olin worth $3,807,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the stock. Spire Wealth Management lifted its position in shares of Olin by 246.8% in the fourth quarter. Spire Wealth Management now owns 1,616 shares of the specialty chemicals company’s stock valued at $55,000 after acquiring an additional 1,150 shares in the last quarter. CoreFirst Bank & Trust acquired a new stake in Olin during the 4th quarter worth $66,000. Jones Financial Companies Lllp grew its holdings in shares of Olin by 59.9% during the fourth quarter. Jones Financial Companies Lllp now owns 2,431 shares of the specialty chemicals company’s stock worth $82,000 after buying an additional 911 shares in the last quarter. Blue Trust Inc. raised its position in shares of Olin by 34.3% in the fourth quarter. Blue Trust Inc. now owns 2,887 shares of the specialty chemicals company’s stock valued at $98,000 after buying an additional 738 shares during the last quarter. Finally, Raymond James Trust N.A. purchased a new position in shares of Olin in the third quarter worth about $212,000. 88.67% of the stock is currently owned by institutional investors and hedge funds.

Olin Price Performance

OLN stock opened at $24.76 on Thursday. The business’s fifty day moving average price is $27.68 and its 200 day moving average price is $36.35. Olin Co. has a 12-month low of $22.98 and a 12-month high of $60.60. The company has a current ratio of 1.27, a quick ratio of 0.77 and a debt-to-equity ratio of 1.32. The company has a market capitalization of $2.86 billion, a PE ratio of 27.51 and a beta of 1.61.

Olin (NYSE:OLN) last issued its quarterly 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, sell-side analysts anticipate that Olin Co. will post 1.38 EPS for the current year.

Olin declared that its Board of Directors has approved a share 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 purchase up to 45% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Olin Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, March 6th were given a $0.20 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $0.80 annualized dividend and a yield of 3.23%. Olin’s dividend payout ratio is presently 88.89%.

Insiders Place Their Bets

In related news, CEO Kenneth Todd Lane bought 7,250 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The stock was purchased at an average cost of $28.06 per share, for a total transaction of $203,435.00. Following the completion of the acquisition, the chief executive officer now owns 7,250 shares in the company, valued at approximately $203,435. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on OLN. Bank of America upgraded 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 report on Tuesday, January 14th. Barclays reiterated an “equal weight” rating on shares of Olin in a research report on Monday, February 3rd. JPMorgan Chase & Co. cut Olin from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $50.00 to $28.00 in a report on Thursday, February 27th. UBS Group set a $28.00 price target on Olin in a report on Thursday, February 27th. Finally, Piper Sandler lowered shares of Olin from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $41.00 to $33.00 in a report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $38.38.

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.