Olin Co. (NYSE:OLN) Stock Position Reduced by Boston Partners

Boston Partners cut its stake in shares of Olin Co. (NYSE:OLN) by 11.9% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,790,241 shares of the specialty chemicals company’s stock after selling 513,673 shares during the period. Boston Partners owned about 3.25% of Olin worth $127,777,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in OLN. Empowered Funds LLC grew its position in Olin by 126.9% during the third quarter. Empowered Funds LLC now owns 20,498 shares of the specialty chemicals company’s stock valued at $983,000 after purchasing an additional 11,466 shares in the last quarter. Segall Bryant & Hamill LLC purchased a new position in Olin during the third quarter valued at approximately $916,000. Commerce Bank lifted its stake in Olin by 48.0% in the third quarter. Commerce Bank now owns 18,069 shares of the specialty chemicals company’s stock valued at $867,000 after acquiring an additional 5,863 shares during the last quarter. Pzena Investment Management LLC lifted 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 last quarter. Finally, Charles Schwab Investment Management Inc. lifted 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 last quarter. 88.67% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

OLN has been the subject of a number of analyst reports. UBS Group set a $28.00 target price on shares of Olin in a research note on Thursday, February 27th. BMO Capital Markets reduced their target price on shares of Olin from $44.00 to $34.00 and set a “market perform” rating for the company in a research note on Wednesday, February 5th. Truist Financial reduced their target price on shares of Olin from $38.00 to $32.00 and set a “hold” rating for the company in a research note on Monday, February 3rd. JPMorgan Chase & Co. cut shares of Olin from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $50.00 to $28.00 in a research note on Thursday, February 27th. Finally, Morgan Stanley reduced their target price on shares of Olin from $31.00 to $28.00 and set an “underweight” rating for the company in a research note on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $38.38.

Olin Price Performance

NYSE:OLN opened at $25.09 on Wednesday. The stock has a market cap of $2.90 billion, a P/E ratio of 27.88 and a beta of 1.61. Olin Co. has a one year low of $22.98 and a one year high of $60.60. The company has a fifty day moving average price of $28.53 and a 200 day moving average price of $37.05. 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 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%. Analysts anticipate that Olin Co. will post 1.38 earnings per share for the current year.

Olin Dividend Announcement

The firm also recently declared 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 annualized dividend and a yield of 3.19%. The ex-dividend date was Thursday, March 6th. Olin’s dividend payout ratio (DPR) is presently 88.89%.

Olin announced that its Board of Directors has initiated a stock buyback plan on Thursday, December 12th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the specialty chemicals company to reacquire up to 45% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Olin

In other Olin news, CEO Kenneth Todd Lane purchased 7,250 shares of the stock in a transaction on Tuesday, February 4th. The shares were purchased at an average price 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.60% of the company’s stock.

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.