SG Americas Securities LLC Sells 13,729 Shares of Olin Co. (NYSE:OLN)

SG Americas Securities LLC lessened its holdings in Olin Co. (NYSE:OLN) by 74.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 4,720 shares of the specialty chemicals company’s stock after selling 13,729 shares during the period. SG Americas Securities LLC’s holdings in Olin were worth $160,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CWM LLC boosted its position in Olin by 18.0% during the 3rd quarter. CWM LLC now owns 8,668 shares of the specialty chemicals company’s stock valued at $416,000 after acquiring an additional 1,324 shares in the last quarter. UMB Bank n.a. boosted its position in 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 valued at $76,000 after purchasing an additional 1,556 shares in the last quarter. Wedge Capital Management L L P NC grew its stake in Olin by 36.6% in the third quarter. Wedge Capital Management L L P NC now owns 50,613 shares of the specialty chemicals company’s stock valued at $2,428,000 after purchasing an additional 13,557 shares during the last quarter. Blue Trust Inc. raised its holdings in 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 purchasing an additional 838 shares in the last quarter. Finally, First Citizens Bank & Trust Co. lifted its position in shares of Olin by 14.1% during the third quarter. First Citizens Bank & Trust Co. now owns 6,388 shares of the specialty chemicals company’s stock valued at $306,000 after buying an additional 789 shares during the last quarter. 88.67% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Kenneth Todd Lane purchased 7,250 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The stock was bought 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 owns 7,250 shares in the company, valued at $203,435. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.60% of the company’s stock.

Olin Stock Down 0.8 %

Shares of OLN stock opened at $28.23 on Monday. Olin Co. has a twelve month low of $26.48 and a twelve month high of $60.60. The stock has a market cap of $3.29 billion, a P/E ratio of 31.37, a P/E/G ratio of 0.91 and a beta of 1.45. The stock has a 50 day moving average of $34.03 and a 200 day moving average of $40.36. The company has a current ratio of 1.27, a quick ratio of 0.77 and a debt-to-equity ratio of 1.32.

Olin (NYSE:OLN) last announced its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $0.09 earnings per share (EPS) for the quarter, topping 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%. As a group, sell-side analysts expect that Olin Co. will post 1.83 EPS for the current year.

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

Analyst Ratings Changes

Several research analysts recently commented on the stock. Wells Fargo & Company reduced their price objective on shares of Olin from $40.00 to $31.00 and set an “equal weight” rating for the company in a research note on Monday, February 3rd. KeyCorp reduced their price target on Olin from $50.00 to $40.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Morgan Stanley lowered their price target on Olin from $31.00 to $28.00 and set an “underweight” rating for the company in a report on Tuesday, February 4th. UBS Group cut their price objective on shares of Olin from $35.00 to $34.00 and set a “neutral” rating on the stock in a report on Friday, January 31st. Finally, Piper Sandler lowered their target price on shares of Olin from $51.00 to $41.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. One investment 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. Based on data from MarketBeat.com, Olin currently has a consensus rating of “Hold” and a consensus target price of $40.94.

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.