Yacktman Asset Management LP Sells 21,961 Shares of Olin Co. (NYSE:OLN)

Yacktman Asset Management LP lowered its position in shares of Olin Co. (NYSE:OLN) by 0.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,897,996 shares of the specialty chemicals company’s stock after selling 21,961 shares during the quarter. Olin makes up about 1.5% of Yacktman Asset Management LP’s investment portfolio, making the stock its 26th largest position. Yacktman Asset Management LP owned approximately 3.34% of Olin worth $131,752,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in OLN. Farther Finance Advisors LLC raised its holdings in Olin by 88.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 589 shares of the specialty chemicals company’s stock worth $28,000 after purchasing an additional 276 shares during the last quarter. Covestor Ltd lifted its holdings in Olin by 357.5% in the third quarter. Covestor Ltd now owns 915 shares of the specialty chemicals company’s stock valued at $44,000 after buying an additional 715 shares during the period. Capital Performance Advisors LLP bought a new position in Olin in the third quarter valued at approximately $47,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in Olin by 26.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,534 shares of the specialty chemicals company’s stock worth $75,000 after acquiring an additional 318 shares during the period. Finally, UMB Bank n.a. raised its position in shares of Olin by 4,862.5% during the 3rd quarter. UMB Bank n.a. now owns 1,588 shares of the specialty chemicals company’s stock valued at $76,000 after acquiring an additional 1,556 shares during the last quarter. Institutional investors and hedge funds own 88.67% of the company’s stock.

Analyst Ratings Changes

OLN has been the subject of a number of analyst reports. Wells Fargo & Company decreased their price objective on Olin from $40.00 to $31.00 and set an “equal weight” rating for the company in a research note on Monday, February 3rd. Truist Financial decreased their price objective on Olin from $38.00 to $32.00 and set a “hold” rating for the company in a research report on Monday, February 3rd. KeyCorp reduced their price target 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. Bank of America upgraded shares of Olin from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $48.00 to $40.00 in a report on Tuesday, January 14th. Finally, Barclays reduced their target price on shares of Olin from $43.00 to $34.00 and set an “equal weight” rating for the company in a research note on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Olin has an average rating of “Hold” and a consensus price target of $40.94.

Insider Activity at Olin

In related news, CEO Kenneth Todd Lane acquired 7,250 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now directly owns 7,250 shares of the company’s stock, valued at approximately $203,435. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.60% of the stock is owned by company insiders.

Olin Stock Down 0.2 %

Olin stock opened at $28.16 on Tuesday. Olin Co. has a fifty-two week low of $26.48 and a fifty-two week high of $60.60. The firm has a market capitalization of $3.28 billion, a PE ratio of 31.29, a P/E/G ratio of 0.91 and a beta of 1.45. The company’s 50-day moving average is $34.03 and its 200-day moving average is $40.31. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.27 and a quick ratio of 0.77.

Olin (NYSE:OLN) last released its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.10. Olin had a return on equity of 5.10% and a net margin of 1.66%. Sell-side analysts anticipate that Olin Co. will post 1.83 earnings per share for the current year.

Olin announced that its board has authorized a stock buyback program on Thursday, December 12th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the specialty chemicals company to purchase up to 45% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

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.