Alberta Investment Management Corp Makes New $660,000 Investment in Olin Co. (NYSE:OLN)

Alberta Investment Management Corp bought a new position in shares of Olin Co. (NYSE:OLN - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 19,520 shares of the specialty chemicals company's stock, valued at approximately $660,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Farther Finance Advisors LLC grew its position in shares of Olin by 88.2% in the third quarter. Farther Finance Advisors LLC now owns 589 shares of the specialty chemicals company's stock valued at $28,000 after purchasing an additional 276 shares during the last quarter. Covestor Ltd increased its position in Olin by 357.5% during the 3rd quarter. Covestor Ltd now owns 915 shares of the specialty chemicals company's stock worth $44,000 after buying an additional 715 shares during the period. Capital Performance Advisors LLP acquired a new stake in shares of Olin during the third quarter worth $47,000. Mirae Asset Global Investments Co. Ltd. boosted 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 acquiring an additional 318 shares during the period. 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 acquiring an additional 1,150 shares during the period. Institutional investors and hedge funds own 88.67% of the company's stock.

Insider Buying and Selling

In related news, CEO Kenneth Todd Lane bought 7,250 shares of the company's stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 7,250 shares of the company's stock, valued at approximately $203,435. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.60% of the stock is currently owned by insiders.

Olin Trading Down 1.1 %

NYSE OLN traded down $0.31 on Monday, reaching $26.56. The company had a trading volume of 1,513,951 shares, compared to its average volume of 1,785,941. The firm has a market cap of $3.10 billion, a price-to-earnings ratio of 29.51 and a beta of 1.45. Olin Co. has a fifty-two week low of $26.28 and a fifty-two week high of $60.60. The business has a 50 day moving average of $31.33 and a two-hundred day moving average of $39.07. 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 - Get Free Report) last announced its earnings results on Thursday, January 30th. The specialty chemicals company reported $0.09 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.10. Olin had a return on equity of 5.10% and a net margin of 1.66%. Analysts forecast that Olin Co. will post 1.38 EPS for the current year.

Olin announced that its Board of Directors has approved a share buyback plan on Thursday, December 12th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the specialty chemicals company to buy up to 45% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board believes its stock is undervalued.

Olin Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Thursday, March 6th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date is Thursday, March 6th. Olin's dividend payout ratio is 88.89%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Wells Fargo & Company restated an "equal weight" rating on shares of Olin in a research report on Monday, February 3rd. Morgan Stanley reduced their target price on Olin from $31.00 to $28.00 and set an "underweight" rating on the stock in a report on Tuesday, February 4th. BMO Capital Markets cut their price objective on shares of Olin from $44.00 to $34.00 and set a "market perform" rating for the company in a research report on Wednesday, February 5th. 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 report on Monday, February 3rd. Finally, Royal Bank of Canada downgraded shares of Olin from an "outperform" rating to a "sector perform" rating and cut their price target for the stock from $45.00 to $30.00 in a report on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, Olin presently has an average rating of "Hold" and an average price target of $40.44.

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.