Nisa Investment Advisors LLC Decreases Stock Holdings in Olin Co. (NYSE:OLN)

Nisa Investment Advisors LLC lessened its holdings in Olin Co. (NYSE:OLN) by 3.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 11,455 shares of the specialty chemicals company’s stock after selling 375 shares during the period. Nisa Investment Advisors LLC’s holdings in Olin were worth $387,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of OLN. Pzena Investment Management LLC grew 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 buying an additional 685,710 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its holdings in Olin by 6.4% in the 3rd 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 in the last quarter. Verition Fund Management LLC lifted its stake in shares of Olin by 70.9% in the third quarter. Verition Fund Management LLC now owns 544,814 shares of the specialty chemicals company’s stock valued at $26,140,000 after purchasing an additional 225,930 shares during the period. Franklin Resources Inc. raised its holdings in Olin by 19.2% during the third 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 last quarter. Finally, Holocene Advisors LP lifted its holdings in shares of Olin by 504.9% in the third quarter. Holocene Advisors LP now owns 167,186 shares of the specialty chemicals company’s stock valued at $8,022,000 after purchasing an additional 139,549 shares in the last quarter. Institutional investors and hedge funds own 88.67% of the company’s stock.

Wall Street Analyst Weigh In

OLN has been the topic of a number of recent analyst reports. BMO Capital Markets reduced their price target on Olin from $50.00 to $47.00 and set a “market perform” rating on the stock in a research note on Tuesday, October 29th. Wells Fargo & Company dropped their price objective on Olin from $48.00 to $44.00 and set an “equal weight” rating on the stock in a report on Monday, October 28th. Truist Financial started coverage on Olin in a report on Tuesday. They set a “hold” rating and a $38.00 target price on the stock. Royal Bank of Canada cut their target price on shares of Olin from $52.00 to $48.00 and set an “outperform” rating on the stock in a report on Tuesday, October 29th. Finally, KeyCorp cut their price target on Olin from $56.00 to $50.00 and set an “overweight” rating on the stock in a report on Friday, January 10th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $46.50.

Insider Buying and Selling

In other Olin news, VP R Nichole Sumner sold 10,500 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were 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 directly owns 24,056 shares in the company, valued at $1,052,450. This represents a 30.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.60% of the stock is owned by corporate insiders.

Olin Price Performance

Shares of OLN opened at $32.62 on Thursday. The business’s 50-day moving average is $36.16 and its 200-day moving average is $41.42. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.40 and a quick ratio of 0.82. Olin Co. has a fifty-two week low of $30.69 and a fifty-two week high of $60.60. The company has a market capitalization of $3.80 billion, a price-to-earnings ratio of 26.31, a P/E/G ratio of 0.78 and a beta of 1.48.

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