Yousif Capital Management LLC Sells 1,060 Shares of Olin Co. (NYSE:OLN)

Yousif Capital Management LLC trimmed its position in shares of Olin Co. (NYSE:OLN) by 4.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,554 shares of the specialty chemicals company’s stock after selling 1,060 shares during the quarter. Yousif Capital Management LLC’s holdings in Olin were worth $830,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in OLN. ARGA Investment Management LP raised its position in shares of Olin by 47.2% during the fourth quarter. ARGA Investment Management LP now owns 59,813 shares of the specialty chemicals company’s stock worth $2,022,000 after purchasing an additional 19,175 shares during the period. Spire Wealth Management grew its position in Olin by 246.8% in the fourth quarter. Spire Wealth Management now owns 1,616 shares of the specialty chemicals company’s stock valued at $55,000 after purchasing an additional 1,150 shares in the last quarter. Crews Bank & Trust acquired a new stake in Olin in the 4th quarter valued at $153,000. Mariner Investment Group LLC bought a new stake in Olin during the 4th quarter worth about $355,000. Finally, KBC Group NV boosted its stake in shares of Olin by 82.9% during the 4th quarter. KBC Group NV now owns 5,461 shares of the specialty chemicals company’s stock worth $185,000 after buying an additional 2,476 shares during the last quarter. Institutional investors and hedge funds own 88.67% of the company’s stock.

Insider Transactions at Olin

In other Olin news, CEO Kenneth Todd Lane bought 7,250 shares of the company’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 acquisition, the chief executive officer now owns 7,250 shares of the company’s stock, valued at $203,435. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.60% of the company’s stock.

Olin Trading Down 0.5 %

Shares of Olin stock opened at $27.72 on Friday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.77 and a current ratio of 1.27. The firm has a market capitalization of $3.23 billion, a price-to-earnings ratio of 30.80, a PEG ratio of 0.91 and a beta of 1.45. The stock has a 50 day moving average of $32.64 and a 200 day moving average of $39.73. Olin Co. has a fifty-two week low of $26.48 and a fifty-two week high of $60.60.

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 return on equity of 5.10% and a net margin of 1.66%. As a group, research analysts predict that Olin Co. will post 1.83 earnings per share for the current year.

Olin announced that its Board of Directors has approved a stock repurchase plan on Thursday, December 12th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the specialty chemicals company to purchase up to 45% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Truist Financial cut their price target on Olin from $38.00 to $32.00 and set a “hold” rating for the company in a report on Monday, February 3rd. Morgan Stanley dropped their price objective on Olin from $31.00 to $28.00 and set an “underweight” rating for the company in a report on Tuesday, February 4th. BMO Capital Markets reduced their price target on shares of Olin from $44.00 to $34.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 5th. Barclays decreased their target price on Olin from $43.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Monday, February 3rd. Finally, Bank of America upgraded Olin from a “neutral” rating to a “buy” rating and dropped their price target for the company from $48.00 to $40.00 in a research note on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Olin currently has a consensus rating of “Hold” and a consensus price target of $40.44.

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.