Olin Co. (NYSE:OLN) Shares Purchased by KBC Group NV

KBC Group NV boosted its position in shares of Olin Co. (NYSE:OLN) by 82.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 5,461 shares of the specialty chemicals company’s stock after acquiring an additional 2,476 shares during the quarter. KBC Group NV’s holdings in Olin were worth $185,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Farther Finance Advisors LLC increased its position in shares of Olin by 88.2% in the third quarter. Farther Finance Advisors LLC now owns 589 shares of the specialty chemicals company’s stock valued at $28,000 after buying an additional 276 shares in the last quarter. Covestor Ltd increased its holdings in Olin by 357.5% in the 3rd quarter. Covestor Ltd now owns 915 shares of the specialty chemicals company’s stock worth $44,000 after acquiring an additional 715 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in Olin during the third quarter worth $47,000. Mirae Asset Global Investments Co. Ltd. raised its position in Olin by 26.2% during the third 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. increased its stake in shares of Olin by 4,862.5% during the third quarter. UMB Bank n.a. now owns 1,588 shares of the specialty chemicals company’s stock worth $76,000 after purchasing an additional 1,556 shares in the last quarter. Hedge funds and other institutional investors own 88.67% of the company’s stock.

Wall Street Analysts Forecast Growth

OLN has been the subject of a number of research analyst reports. Bank of America raised Olin from a “neutral” rating to a “buy” rating and reduced their target price for the company from $48.00 to $40.00 in a report on Tuesday, January 14th. UBS Group decreased their target price on shares of Olin from $35.00 to $34.00 and set a “neutral” rating on the stock in a research note on Friday, January 31st. Royal Bank of Canada lowered Olin from an “outperform” rating to a “sector perform” rating and dropped their price target for the company from $45.00 to $30.00 in a research report on Tuesday. Piper Sandler cut their price objective on shares of Olin from $51.00 to $41.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Finally, Barclays decreased their target price on shares of Olin from $43.00 to $34.00 and set an “equal weight” rating on the stock in a report on Monday. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Olin has an average rating of “Hold” and a consensus target price of $40.94.

Insider Buying and Selling

In other news, VP R Nichole Sumner sold 10,500 shares of Olin stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $43.75, for a total transaction of $459,375.00. Following the sale, the vice president now owns 24,056 shares in the company, valued at approximately $1,052,450. The trade was a 30.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.80% of the stock is owned by company insiders.

Olin Price Performance

OLN stock opened at $26.67 on Thursday. Olin Co. has a 1 year low of $26.48 and a 1 year high of $60.60. The firm has a market capitalization of $3.11 billion, a P/E ratio of 29.63, a P/E/G ratio of 0.69 and a beta of 1.45. 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 business’s 50-day moving average is $34.92 and its two-hundred day moving average is $40.73.

Olin (NYSE:OLN) last posted its quarterly 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%. Analysts anticipate that Olin Co. will post 2.47 earnings per share for the current fiscal year.

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

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.