Olin Co. (NYSE:OLN) Shares Sold by Robotti Robert

Robotti Robert cut its holdings in Olin Co. (NYSE:OLN) by 0.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 112,622 shares of the specialty chemicals company’s stock after selling 574 shares during the period. Olin makes up about 0.7% of Robotti Robert’s holdings, making the stock its 29th largest position. Robotti Robert’s holdings in Olin were worth $3,807,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of OLN. Spire Wealth Management increased its holdings in shares of Olin by 246.8% in the 4th 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 during the last quarter. CoreFirst Bank & Trust purchased a new stake in Olin during the fourth quarter worth approximately $66,000. Jones Financial Companies Lllp boosted its holdings in Olin by 59.9% in the fourth quarter. Jones Financial Companies Lllp now owns 2,431 shares of the specialty chemicals company’s stock valued at $82,000 after purchasing an additional 911 shares in the last quarter. Blue Trust Inc. increased its stake in 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 purchasing an additional 738 shares during the last quarter. Finally, Crews Bank & Trust acquired a new stake in Olin during the fourth quarter worth approximately $153,000. 88.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. KeyCorp lowered their target price on shares of Olin from $50.00 to $40.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Citigroup decreased their price objective on shares of Olin from $48.00 to $45.00 and set a “buy” rating for the company in a research note on Monday, December 16th. Truist Financial dropped their price objective on Olin from $38.00 to $32.00 and set a “hold” rating on the stock in a report on Monday, February 3rd. Morgan Stanley reduced their target price on Olin from $31.00 to $28.00 and set an “underweight” rating for the company in a report on Tuesday, February 4th. Finally, Barclays restated an “equal weight” rating on shares of Olin in a research note on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $38.38.

Insiders Place Their Bets

In other Olin news, CEO Kenneth Todd Lane purchased 7,250 shares of Olin stock in a transaction dated Tuesday, February 4th. The stock was acquired at an average cost of $28.06 per share, with a total value of $203,435.00. Following the acquisition, the chief executive officer now directly owns 7,250 shares of the company’s stock, valued at $203,435. This represents a ? increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.60% of the stock is currently owned by insiders.

Olin Price Performance

Shares of NYSE OLN opened at $24.76 on Thursday. The stock has a fifty day moving average price of $27.68 and a 200 day moving average price of $36.35. Olin Co. has a 1-year low of $22.98 and a 1-year high of $60.60. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.27 and a quick ratio of 0.77. The company has a market cap of $2.86 billion, a PE ratio of 27.51 and a beta of 1.61.

Olin (NYSE:OLN) last released its earnings results on Thursday, January 30th. The specialty chemicals company reported $0.09 EPS for the quarter, topping 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%. Sell-side analysts forecast that Olin Co. will post 1.38 EPS for the current year.

Olin Announces Dividend

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

Olin announced that its board has approved a share repurchase plan on Thursday, December 12th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the specialty chemicals company to buy up to 45% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board 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.