Proficio Capital Partners LLC Has $4.05 Million Holdings in Olin Co. (NYSE:OLN)

Proficio Capital Partners LLC grew its stake in Olin Co. (NYSE:OLN) by 2,101.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 119,821 shares of the specialty chemicals company’s stock after purchasing an additional 114,379 shares during the period. Proficio Capital Partners LLC owned about 0.10% of Olin worth $4,050,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Empowered Funds LLC grew its position in Olin by 126.9% during the third quarter. Empowered Funds LLC now owns 20,498 shares of the specialty chemicals company’s stock worth $983,000 after buying an additional 11,466 shares in the last quarter. Segall Bryant & Hamill LLC bought a new stake in shares of Olin in the 3rd quarter worth approximately $916,000. Commerce Bank grew its holdings in shares of Olin by 48.0% during the 3rd quarter. Commerce Bank now owns 18,069 shares of the specialty chemicals company’s stock worth $867,000 after purchasing an additional 5,863 shares in the last quarter. Pzena Investment Management LLC increased its position in shares of Olin by 24.8% during the third quarter. Pzena Investment Management LLC now owns 3,452,708 shares of the specialty chemicals company’s stock valued at $165,661,000 after purchasing an additional 685,710 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Olin by 2.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,295,699 shares of the specialty chemicals company’s stock valued at $62,168,000 after purchasing an additional 37,043 shares in the last quarter. Institutional investors own 88.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on OLN shares. Wells Fargo & Company reissued an “equal weight” rating on shares of Olin in a report on Monday, February 3rd. Truist Financial decreased their target price on shares of Olin from $38.00 to $32.00 and set a “hold” rating on the stock in a research report on Monday, February 3rd. Royal Bank of Canada lowered shares of Olin from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from $45.00 to $30.00 in a research report on Tuesday, February 4th. KeyCorp decreased their price objective on Olin from $50.00 to $40.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Finally, BMO Capital Markets dropped their target price on Olin from $44.00 to $34.00 and set a “market perform” rating for the company in a report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $38.38.

Olin Stock Up 1.0 %

Shares of NYSE:OLN opened at $24.88 on Tuesday. Olin Co. has a 12 month low of $22.98 and a 12 month high of $60.60. The firm has a market cap of $2.87 billion, a P/E ratio of 27.65 and a beta of 1.61. The company has a quick ratio of 0.77, a current ratio of 1.27 and a debt-to-equity ratio of 1.32. The company’s 50-day moving average price is $28.67 and its two-hundred day moving average price is $37.18.

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

Olin Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, March 6th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.21%. The ex-dividend date of this dividend was Thursday, March 6th. Olin’s dividend payout ratio (DPR) is presently 88.89%.

Olin announced that its Board of Directors has approved a share repurchase program on Thursday, December 12th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the specialty chemicals company to repurchase up to 45% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at Olin

In other Olin news, CEO Kenneth Todd Lane acquired 7,250 shares of Olin stock in a transaction on Tuesday, February 4th. The shares were purchased at an average cost of $28.06 per share, with a total value of $203,435.00. Following the completion of the purchase, 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.60% of the stock is owned by company insiders.

About Olin

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.