Olin Co. (NYSE:OLN) Holdings Trimmed by Retirement Systems of Alabama

Retirement Systems of Alabama reduced its stake in shares of Olin Co. (NYSE:OLN) by 0.7% during the 4th quarter, HoldingsChannel reports. The fund owned 141,771 shares of the specialty chemicals company’s stock after selling 964 shares during the period. Retirement Systems of Alabama’s holdings in Olin were worth $4,792,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of OLN. Hotchkis & Wiley Capital Management LLC lifted its position in Olin by 6.4% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 8,838,988 shares of the specialty chemicals company’s stock worth $424,095,000 after acquiring an additional 531,330 shares during the last quarter. Pzena Investment Management LLC increased its stake in 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 acquiring an additional 685,710 shares during the period. Charles Schwab Investment Management Inc. increased its stake in 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 acquiring an additional 37,043 shares during the period. Franklin Resources Inc. grew its stake 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 buying an additional 172,768 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in Olin by 2.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,061,001 shares of the specialty chemicals company’s stock worth $50,907,000 after buying an additional 25,163 shares during the last quarter. 88.67% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Olin

In related news, CEO Kenneth Todd Lane purchased 7,250 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was bought at an average cost of $28.06 per share, for a total transaction of $203,435.00. Following the completion of the transaction, the chief executive officer now directly owns 7,250 shares in the company, valued at $203,435. This represents a ? increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 1.60% of the company’s stock.

Olin Stock Performance

Shares of Olin stock opened at $28.16 on Tuesday. The firm has a market capitalization of $3.28 billion, a P/E ratio of 31.29, a P/E/G ratio of 0.91 and a beta of 1.45. The business has a fifty day simple moving average of $34.03 and a two-hundred day simple moving average of $40.31. Olin Co. has a 12 month low of $26.48 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.

Olin (NYSE:OLN) last released 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 net margin of 1.66% and a return on equity of 5.10%. On average, equities analysts forecast that Olin Co. will post 1.83 earnings per share for the current fiscal year.

Olin declared that its board has initiated a stock repurchase 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 buy up to 45% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on OLN shares. Wells Fargo & Company decreased their price target on shares of Olin from $40.00 to $31.00 and set an “equal weight” rating on the stock in a research note on Monday, February 3rd. Barclays cut their target price on shares of Olin from $43.00 to $34.00 and set an “equal weight” rating on the stock in a report on Monday, February 3rd. UBS Group dropped their price objective on shares of Olin from $35.00 to $34.00 and set a “neutral” rating on the stock in a report on Friday, January 31st. Piper Sandler dropped their price objective on shares of Olin from $51.00 to $41.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Finally, Royal Bank of Canada downgraded shares of Olin from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from $45.00 to $30.00 in a research report on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus 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.