Mutual of America Capital Management LLC Has $2.08 Million Stake in Olin Co. (NYSE:OLN)

Mutual of America Capital Management LLC reduced its holdings in shares of Olin Co. (NYSE:OLN) by 3.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 61,591 shares of the specialty chemicals company’s stock after selling 1,914 shares during the quarter. Mutual of America Capital Management LLC owned approximately 0.05% of Olin worth $2,082,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in OLN. Pzena Investment Management LLC boosted its position in 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 worth $165,661,000 after purchasing an additional 685,710 shares during the period. Hotchkis & Wiley Capital Management LLC lifted its stake in shares of Olin by 6.4% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 8,838,988 shares of the specialty chemicals company’s stock worth $424,095,000 after buying an additional 531,330 shares during the last quarter. Verition Fund Management LLC boosted its holdings in shares of Olin by 70.9% during the 3rd quarter. Verition Fund Management LLC now owns 544,814 shares of the specialty chemicals company’s stock worth $26,140,000 after buying an additional 225,930 shares during the period. Franklin Resources Inc. grew its stake in Olin by 19.2% in the 3rd quarter. Franklin Resources Inc. now owns 1,073,087 shares of the specialty chemicals company’s stock valued at $51,015,000 after buying an additional 172,768 shares during the last quarter. Finally, Holocene Advisors LP raised its holdings in Olin by 504.9% in the 3rd quarter. Holocene Advisors LP now owns 167,186 shares of the specialty chemicals company’s stock valued at $8,022,000 after acquiring an additional 139,549 shares during the period. 88.67% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Kenneth Todd Lane acquired 7,250 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The stock was acquired at an average price of $28.06 per share, with a total value of $203,435.00. Following the purchase, the chief executive officer now directly owns 7,250 shares in the company, 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 Securities & Exchange Commission, which is available through this link. 1.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

OLN has been the subject of a number of research analyst reports. JPMorgan Chase & Co. cut Olin from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $50.00 to $28.00 in a report on Thursday, February 27th. Citigroup decreased their price objective on Olin from $48.00 to $45.00 and set a “buy” rating on the stock in a report on Monday, December 16th. Piper Sandler cut Olin from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $41.00 to $33.00 in a research report on Thursday, February 13th. Bank of America raised shares of Olin from a “neutral” rating to a “buy” rating and reduced their target price for the company from $48.00 to $40.00 in a research report on Tuesday, January 14th. Finally, Truist Financial lowered their price target 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. One research 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’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $38.38.

Olin Stock Down 1.6 %

Shares of OLN opened at $24.43 on Friday. The firm has a 50 day simple moving average of $29.75 and a two-hundred day simple moving average of $38.07. The company has a market cap of $2.82 billion, a P/E ratio of 27.14 and a beta of 1.61. Olin Co. has a one year low of $22.98 and a one year high of $60.60. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.27 and a quick ratio of 0.77.

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

Olin declared that its Board of Directors has initiated a stock 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 purchase up to 45% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Olin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Thursday, March 6th will be issued a $0.20 dividend. The ex-dividend date is Thursday, March 6th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.28%. Olin’s dividend payout ratio (DPR) is currently 88.89%.

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.