Dynamic Technology Lab Private Ltd Purchases New Stake in Olin Co. (NYSE:OLN)

Dynamic Technology Lab Private Ltd purchased a new position in shares of Olin Co. (NYSE:OLN - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 27,726 shares of the specialty chemicals company's stock, valued at approximately $937,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of OLN. Spire Wealth Management boosted its holdings in shares of Olin by 246.8% in 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 in the last quarter. CoreFirst Bank & Trust purchased a new position in shares of Olin in the fourth quarter valued at $66,000. Jones Financial Companies Lllp raised its stake in shares of Olin by 59.9% during the 4th quarter. Jones Financial Companies Lllp now owns 2,431 shares of the specialty chemicals company's stock worth $82,000 after buying an additional 911 shares during the last quarter. Blue Trust Inc. boosted its position in shares of Olin by 34.3% in the 4th quarter. Blue Trust Inc. now owns 2,887 shares of the specialty chemicals company's stock worth $98,000 after buying an additional 738 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new stake in Olin in the 4th quarter valued at about $127,000. 88.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Olin

In other news, CEO Kenneth Todd Lane acquired 7,250 shares of the firm's stock in a transaction on Tuesday, February 4th. The stock was bought at an average cost of $28.06 per share, with a total value of $203,435.00. Following the transaction, the chief executive officer now directly owns 7,250 shares in the company, valued at approximately $203,435. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.70% of the company's stock.

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Olin Stock Down 1.4 %

NYSE OLN traded down $0.28 during trading hours on Friday, hitting $19.36. The company had a trading volume of 685,422 shares, compared to its average volume of 1,513,221. The firm's 50 day moving average is $24.90 and its 200 day moving average is $34.48. The company has a market capitalization of $2.23 billion, a price-to-earnings ratio of 21.46 and a beta of 1.50. Olin Co. has a fifty-two week low of $17.66 and a fifty-two week high of $57.23. 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%. Sell-side analysts anticipate that Olin Co. will post 1.38 earnings per share for the current fiscal year.

Olin declared that its Board of Directors has approved 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 shares through open market purchases. Shares repurchase plans are usually a sign that the company's board believes its stock is undervalued.

Olin Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, March 6th were paid a $0.20 dividend. The ex-dividend date was Thursday, March 6th. This represents a $0.80 annualized dividend and a dividend yield of 4.13%. Olin's dividend payout ratio (DPR) is presently 88.89%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on OLN. Morgan Stanley reduced 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, February 4th. JPMorgan Chase & Co. downgraded Olin from an "overweight" rating to a "neutral" rating and dropped their price target for the stock from $50.00 to $28.00 in a research report on Thursday, February 27th. Royal Bank of Canada downgraded Olin from an "outperform" rating to a "sector perform" rating and reduced their price objective for the company from $45.00 to $30.00 in a research report on Tuesday, February 4th. Piper Sandler reduced their target price on shares of Olin from $33.00 to $26.00 and set a "neutral" rating on the stock in a report on Monday. Finally, Truist Financial lowered their target price on shares of Olin from $38.00 to $32.00 and set a "hold" rating for the company in a research note on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, Olin currently has a consensus rating of "Hold" and an average target price of $35.44.

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.