Alberta Investment Management Corp Makes New Investment in Olin Co. (NYSE:OLN)

Alberta Investment Management Corp bought a new position in Olin Co. (NYSE:OLN) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 19,520 shares of the specialty chemicals company’s stock, valued at approximately $660,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in OLN. Blue Trust Inc. boosted its holdings in shares of Olin by 63.9% in the third quarter. Blue Trust Inc. now owns 2,149 shares of the specialty chemicals company’s stock worth $101,000 after buying an additional 838 shares during the period. Raymond James & Associates boosted its holdings in shares of Olin by 10.7% during the third quarter. Raymond James & Associates now owns 192,826 shares of the specialty chemicals company’s stock worth $9,252,000 after purchasing an additional 18,606 shares during the period. Sequoia Financial Advisors LLC acquired a new stake in shares of Olin during the third quarter worth approximately $318,000. International Assets Investment Management LLC boosted its holdings in shares of Olin by 4,698.0% during the third quarter. International Assets Investment Management LLC now owns 9,596 shares of the specialty chemicals company’s stock worth $460,000 after purchasing an additional 9,396 shares during the period. Finally, Highland Capital Management LLC boosted its holdings in shares of Olin by 22.7% during the third quarter. Highland Capital Management LLC now owns 97,739 shares of the specialty chemicals company’s stock worth $4,690,000 after purchasing an additional 18,110 shares during the period. 88.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Kenneth Todd Lane bought 7,250 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The shares were acquired at an average price of $28.06 per share, with a total value of $203,435.00. Following the completion of the transaction, the chief executive officer now owns 7,250 shares of the company’s stock, valued at $203,435. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Truist Financial decreased their price target on shares of Olin from $38.00 to $32.00 and set a “hold” rating for the company in a report on Monday, February 3rd. Barclays restated an “equal weight” rating on shares of Olin in a report on Monday, February 3rd. Royal Bank of Canada cut shares of Olin from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $45.00 to $30.00 in a report on Tuesday, February 4th. Citigroup decreased their price target on shares of Olin from $48.00 to $45.00 and set a “buy” rating for the company in a report on Monday, December 16th. Finally, Wells Fargo & Company restated an “equal weight” rating on shares of Olin in a report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Olin presently has an average rating of “Hold” and an average price target of $40.44.

Olin Trading Down 2.4 %

NYSE:OLN opened at $26.89 on Friday. Olin Co. has a 12 month low of $26.48 and a 12 month high of $60.60. The firm has a market cap of $3.14 billion, a price-to-earnings ratio of 29.88 and a beta of 1.45. The company has a quick ratio of 0.77, a current ratio of 1.27 and a debt-to-equity ratio of 1.32. The company’s 50 day moving average is $31.50 and its 200-day moving average is $39.19.

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 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%. Equities analysts anticipate that Olin Co. will post 1.38 EPS for the current year.

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

Olin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Thursday, March 6th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date is Thursday, March 6th. Olin’s dividend payout ratio (DPR) is currently 88.89%.

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.