ARGA Investment Management LP Has $2.02 Million Stock Position in Olin Co. (NYSE:OLN)

ARGA Investment Management LP grew its stake in shares of Olin Co. (NYSE:OLN - Free Report) by 47.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 59,813 shares of the specialty chemicals company's stock after acquiring an additional 19,175 shares during the period. ARGA Investment Management LP owned about 0.05% of Olin worth $2,022,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of OLN. Farther Finance Advisors LLC lifted its position 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 valued at $28,000 after acquiring an additional 276 shares during the last quarter. Covestor Ltd raised its holdings in shares of 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 acquiring an additional 715 shares during the period. Capital Performance Advisors LLP acquired a new stake in shares of Olin during the third quarter valued at approximately $47,000. Spire Wealth Management raised its holdings in shares of Olin by 246.8% during the fourth quarter. Spire Wealth Management now owns 1,616 shares of the specialty chemicals company's stock valued at $55,000 after acquiring an additional 1,150 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Olin by 26.2% during 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. Institutional investors and hedge funds own 88.67% of the company's stock.

Insider Activity

In other Olin news, CEO Kenneth Todd Lane bought 7,250 shares of the stock in a transaction on Tuesday, February 4th. The shares were purchased at an average price of $28.06 per share, with a total value of $203,435.00. Following the acquisition, the chief executive officer now directly owns 7,250 shares of the company's stock, valued at $203,435. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.60% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on OLN shares. Morgan Stanley cut their price target on shares of Olin from $31.00 to $28.00 and set an "underweight" rating on the stock in a report on Tuesday. Wells Fargo & Company cut their price target 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. Truist Financial lowered their target price on Olin from $38.00 to $32.00 and set a "hold" rating on the stock in a research note on Monday, February 3rd. Piper Sandler lowered their target price on Olin from $51.00 to $41.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 7th. Finally, BMO Capital Markets lowered their target price on Olin from $44.00 to $34.00 and set a "market perform" rating on the stock in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $40.94.

Olin Stock Performance

OLN stock traded down $0.23 during midday trading on Friday, hitting $28.23. 1,565,381 shares of the company traded hands, compared to its average volume of 1,829,069. Olin Co. has a twelve month low of $26.48 and a twelve month high of $60.60. The stock has a market capitalization of $3.29 billion, a price-to-earnings ratio of 31.37, a price-to-earnings-growth ratio of 0.91 and a beta of 1.45. 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 business has a 50 day simple moving average of $34.03 and a 200-day simple moving average of $40.41.

Olin (NYSE:OLN - Get Free Report) last released its quarterly 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 net margin of 1.66% and a return on equity of 5.10%. As a group, equities research analysts predict that Olin Co. will post 1.83 earnings per share for the current year.

Olin declared that its Board of Directors has initiated a share repurchase plan on Thursday, December 12th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the specialty chemicals company to reacquire up to 45% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its stock is undervalued.

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.