Charles Schwab Investment Management Inc. Acquires 58,208 Shares of Olin Co. (NYSE:OLN)

Charles Schwab Investment Management Inc. boosted its stake in Olin Co. (NYSE:OLN - Free Report) by 4.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,353,907 shares of the specialty chemicals company's stock after acquiring an additional 58,208 shares during the period. Charles Schwab Investment Management Inc. owned 1.16% of Olin worth $45,762,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in OLN. Pzena Investment Management LLC raised its holdings in Olin by 24.8% in 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 acquiring an additional 685,710 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its holdings in Olin by 6.4% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 8,838,988 shares of the specialty chemicals company's stock valued at $424,095,000 after acquiring an additional 531,330 shares in the last quarter. Verition Fund Management LLC raised its holdings in Olin by 70.9% in the third quarter. Verition Fund Management LLC now owns 544,814 shares of the specialty chemicals company's stock valued at $26,140,000 after acquiring an additional 225,930 shares in the last quarter. Franklin Resources Inc. raised its holdings in Olin by 19.2% in the third quarter. Franklin Resources Inc. now owns 1,073,087 shares of the specialty chemicals company's stock valued at $51,015,000 after acquiring an additional 172,768 shares in the last quarter. Finally, Holocene Advisors LP raised its holdings in Olin by 504.9% in the third 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 in the last quarter. 88.67% of the stock is owned by institutional investors and hedge funds.

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Olin Trading Up 0.7 %

OLN stock traded up $0.18 during mid-day trading on Tuesday, reaching $25.09. 1,304,898 shares of the stock traded hands, compared to its average volume of 1,389,394. The company has a current ratio of 1.27, a quick ratio of 0.77 and a debt-to-equity ratio of 1.32. Olin Co. has a 52-week low of $22.98 and a 52-week high of $60.60. The company has a market cap of $2.90 billion, a P/E ratio of 27.88 and a beta of 1.61. The stock's fifty day moving average is $28.67 and its 200-day moving average is $37.18.

Olin (NYSE:OLN - Get Free Report) last posted its quarterly earnings data 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, sell-side analysts expect that Olin Co. will post 1.38 earnings per share for the current year.

Olin Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, March 6th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date was Thursday, March 6th. Olin's dividend payout ratio is presently 88.89%.

Olin announced that its board has initiated a share repurchase program on Thursday, December 12th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the specialty chemicals company to repurchase up to 45% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. KeyCorp dropped their target price on shares of Olin from $50.00 to $40.00 and set an "overweight" rating on the stock in a report on Monday, February 3rd. BMO Capital Markets dropped their price objective on shares of Olin from $44.00 to $34.00 and set a "market perform" rating on the stock in a report on Wednesday, February 5th. Barclays reaffirmed an "equal weight" rating on shares of Olin in a report on Monday, February 3rd. Piper Sandler lowered shares of Olin from an "overweight" rating to a "neutral" rating and decreased their target price for the company from $41.00 to $33.00 in a research report on Thursday, February 13th. Finally, Royal Bank of Canada lowered shares of Olin from an "outperform" rating to a "sector perform" rating and decreased their target price for the company from $45.00 to $30.00 in a research report on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $38.38.

Insider Buying and Selling at Olin

In related news, CEO Kenneth Todd Lane purchased 7,250 shares of Olin stock in a transaction dated Tuesday, February 4th. The stock was acquired at an average cost of $28.06 per share, with a total value of $203,435.00. Following the completion of the transaction, the chief executive officer now directly owns 7,250 shares of the company's stock, valued at $203,435. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.60% of the company's stock.

Olin Company 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.