Rhumbline Advisers Acquires 5,093 Shares of Olin Co. (NYSE:OLN)

Rhumbline Advisers boosted its stake in shares of Olin Co. (NYSE:OLN) by 1.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 324,696 shares of the specialty chemicals company’s stock after buying an additional 5,093 shares during the quarter. Rhumbline Advisers owned approximately 0.28% of Olin worth $10,975,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of OLN. Farther Finance Advisors LLC lifted its position in shares of Olin by 88.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 589 shares of the specialty chemicals company’s stock worth $28,000 after purchasing an additional 276 shares during the period. Covestor Ltd grew its holdings in Olin by 357.5% in the third quarter. Covestor Ltd now owns 915 shares of the specialty chemicals company’s stock worth $44,000 after purchasing an additional 715 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in shares of Olin during the third quarter worth $47,000. Spire Wealth Management lifted its holdings in shares of Olin by 246.8% during the 4th 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 during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Olin by 26.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,534 shares of the specialty chemicals company’s stock worth $75,000 after purchasing an additional 318 shares in the last quarter. Institutional investors own 88.67% of the company’s stock.

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 purchased at an average price of $28.06 per share, for a total transaction of $203,435.00. Following the transaction, the chief executive officer now directly owns 7,250 shares of the company’s stock, valued at approximately $203,435. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on OLN shares. UBS Group decreased their price target on Olin from $35.00 to $34.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. Truist Financial decreased their price objective on shares of Olin from $38.00 to $32.00 and set a “hold” rating for the company in a research report on Monday, February 3rd. Barclays reissued an “equal weight” rating on shares of Olin in a research report on Monday, February 3rd. Citigroup lowered their price objective on shares of Olin from $48.00 to $45.00 and set a “buy” rating for the company in a research note on Monday, December 16th. Finally, Bank of America raised Olin from a “neutral” rating to a “buy” rating and cut their target price for the company from $48.00 to $40.00 in a research report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $40.44.

Olin Price Performance

NYSE:OLN opened at $26.89 on Monday. 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 company has a 50 day moving average price of $31.50 and a 200-day moving average price of $39.18. Olin Co. has a 1-year low of $26.48 and a 1-year high of $60.60. The firm has a market cap of $3.14 billion, a price-to-earnings ratio of 29.88 and a beta of 1.45.

Olin (NYSE:OLN) last released its quarterly earnings data 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%. Equities research analysts forecast that Olin Co. will post 1.38 EPS for the current year.

Olin declared that its board has initiated a stock buyback 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 shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Olin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Thursday, March 6th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $0.80 dividend on an annualized basis and a yield of 2.97%. Olin’s dividend payout ratio is currently 88.89%.

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.