Vontobel Holding Ltd. Acquires Shares of 9,701 Olin Co. (NYSE:OLN)

Vontobel Holding Ltd. purchased a new position in Olin Co. (NYSE:OLN) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 9,701 shares of the specialty chemicals company’s stock, valued at approximately $328,000.

Several other hedge funds have also recently modified their holdings of OLN. Farther Finance Advisors LLC raised its stake in shares of Olin by 88.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 589 shares of the specialty chemicals company’s stock worth $28,000 after acquiring an additional 276 shares in the last quarter. Covestor Ltd lifted its holdings in Olin by 357.5% during the third quarter. Covestor Ltd now owns 915 shares of the specialty chemicals company’s stock valued at $44,000 after purchasing an additional 715 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in Olin during the third quarter valued at $47,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Olin by 26.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,534 shares of the specialty chemicals company’s stock valued at $75,000 after buying an additional 318 shares during the last quarter. Finally, Spire Wealth Management increased its position in Olin by 246.8% during the fourth quarter. Spire Wealth Management now owns 1,616 shares of the specialty chemicals company’s stock worth $55,000 after purchasing an additional 1,150 shares during the last quarter. Hedge funds and other institutional investors own 88.67% of the company’s stock.

Olin Stock Down 0.6 %

OLN opened at $27.52 on Friday. The business has a 50 day moving average price of $31.71 and a 200 day moving average price of $39.31. Olin Co. has a twelve month low of $26.48 and a twelve month high of $60.60. 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 cap of $3.21 billion, a P/E ratio of 30.57 and a beta of 1.45.

Olin (NYSE:OLN) last issued its earnings results on Thursday, January 30th. The specialty chemicals company reported $0.09 EPS for the quarter, beating 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%. Research analysts forecast that Olin Co. will post 1.38 EPS for the current year.

Olin announced that its Board of Directors has approved a stock 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 buy up to 45% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

OLN has been the subject of a number of recent analyst reports. Piper Sandler cut shares of Olin from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $41.00 to $33.00 in a research report on Thursday, February 13th. BMO Capital Markets cut their price objective on shares of Olin from $44.00 to $34.00 and set a “market perform” rating on the stock in a report on Wednesday, February 5th. Wells Fargo & Company cut their target price on shares of Olin from $40.00 to $31.00 and set an “equal weight” rating on the stock in a report on Monday, February 3rd. Morgan Stanley dropped their price objective on shares of Olin from $31.00 to $28.00 and set an “underweight” rating on the stock in a research note on Tuesday, February 4th. 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 research report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Olin currently has a consensus rating of “Hold” and an average price target of $40.44.

Insider Buying and Selling at Olin

In other Olin news, CEO Kenneth Todd Lane bought 7,250 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The shares were bought at an average price of $28.06 per share, for a total transaction of $203,435.00. Following the completion of the acquisition, the chief executive officer now owns 7,250 shares of the company’s stock, valued at approximately $203,435. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company 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.