Nisa Investment Advisors LLC Has $387,000 Stock Position in Olin Co. (NYSE:OLN)

Nisa Investment Advisors LLC lessened its holdings in Olin Co. (NYSE:OLN) by 3.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,455 shares of the specialty chemicals company’s stock after selling 375 shares during the period. Nisa Investment Advisors LLC’s holdings in Olin were worth $387,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Envestnet Asset Management Inc. boosted its stake in shares of Olin by 4.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 97,906 shares of the specialty chemicals company’s stock valued at $4,616,000 after purchasing an additional 4,345 shares during the last quarter. Sei Investments Co. grew its holdings in shares of Olin by 5.6% in the second quarter. Sei Investments Co. now owns 12,161 shares of the specialty chemicals company’s stock valued at $573,000 after acquiring an additional 640 shares in the last quarter. Bank of Montreal Can boosted its stake in Olin by 219.9% in the second quarter. Bank of Montreal Can now owns 81,080 shares of the specialty chemicals company’s stock valued at $3,867,000 after acquiring an additional 55,735 shares during the last quarter. Marshall Wace LLP purchased a new position in Olin in the second quarter valued at about $2,929,000. Finally, Squarepoint Ops LLC bought a new position in shares of Olin during the 2nd quarter worth $2,918,000. 88.67% of the stock is currently owned by institutional investors.

Olin Trading Up 0.1 %

Shares of NYSE:OLN opened at $32.62 on Thursday. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.40 and a quick ratio of 0.82. The business’s 50-day moving average is $36.16 and its 200 day moving average is $41.42. The firm has a market capitalization of $3.80 billion, a P/E ratio of 26.31, a P/E/G ratio of 0.78 and a beta of 1.48. Olin Co. has a 1 year low of $30.69 and a 1 year high of $60.60.

Olin declared that its board has authorized a stock repurchase plan on Thursday, December 12th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the specialty chemicals company to buy up to 45% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

OLN has been the topic of a number of analyst reports. Bank of America raised shares of Olin from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $48.00 to $40.00 in a report on Tuesday, January 14th. Citigroup dropped their price objective on shares of Olin from $48.00 to $45.00 and set a “buy” rating on the stock in a research note on Monday, December 16th. Royal Bank of Canada dropped their price target on shares of Olin from $52.00 to $48.00 and set an “outperform” rating on the stock in a report on Tuesday, October 29th. Piper Sandler reduced their target price on shares of Olin from $51.00 to $41.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Finally, Truist Financial started coverage on shares of Olin in a research report on Tuesday. They set a “hold” rating and a $38.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $46.50.

Insider Buying and Selling

In other news, VP R Nichole Sumner sold 10,500 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $43.75, for a total transaction of $459,375.00. Following the sale, the vice president now directly owns 24,056 shares of the company’s stock, valued at $1,052,450. This represents a 30.39 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.60% of the company’s stock.

Olin 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.