Entropy Technologies LP Acquires 62,132 Shares of Olin Co. (NYSE:OLN)

Entropy Technologies LP increased its position in Olin Co. (NYSE:OLN - Free Report) by 460.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 75,631 shares of the specialty chemicals company's stock after acquiring an additional 62,132 shares during the period. Entropy Technologies LP owned approximately 0.06% of Olin worth $2,556,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Hotchkis & Wiley Capital Management LLC increased its stake in Olin by 6.4% in 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 purchasing an additional 531,330 shares in the last quarter. Pzena Investment Management LLC increased its position in shares of 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 valued at $165,661,000 after purchasing an additional 685,710 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Olin by 2.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,295,699 shares of the specialty chemicals company's stock valued at $62,168,000 after purchasing an additional 37,043 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Olin by 19.2% during the 3rd quarter. Franklin Resources Inc. now owns 1,073,087 shares of the specialty chemicals company's stock worth $51,015,000 after purchasing an additional 172,768 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Olin by 2.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,061,001 shares of the specialty chemicals company's stock worth $50,907,000 after purchasing an additional 25,163 shares during the last quarter. Institutional investors own 88.67% of the company's stock.

Insider Buying and Selling at Olin

In other Olin news, CEO Kenneth Todd Lane bought 7,250 shares of the business's stock in a transaction on Tuesday, February 4th. The shares were 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 trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

OLN has been the subject of several recent analyst reports. BMO Capital Markets lowered their target price on shares of Olin from $44.00 to $34.00 and set a "market perform" rating for the company in a research note on Wednesday, February 5th. Bank of America upgraded Olin from a "neutral" rating to a "buy" rating and decreased their price objective for the company from $48.00 to $40.00 in a report on Tuesday, January 14th. Truist Financial decreased their price target on Olin from $38.00 to $32.00 and set a "hold" rating for the company in a research note on Monday, February 3rd. Morgan Stanley lowered their target price 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. Finally, Citigroup cut their target price on shares of Olin from $48.00 to $45.00 and set a "buy" rating for the company in a research note on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $40.94.

Olin Stock Down 2.1 %

Shares of NYSE:OLN traded down $0.61 during trading on Wednesday, hitting $27.99. The company's stock had a trading volume of 3,824,350 shares, compared to its average volume of 1,887,620. The business has a 50 day moving average price of $33.45 and a two-hundred day moving average price of $40.06. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.77 and a current ratio of 1.27. Olin Co. has a fifty-two week low of $26.48 and a fifty-two week high of $60.60. The company has a market capitalization of $3.26 billion, a PE ratio of 31.10, a P/E/G ratio of 0.91 and a beta of 1.45.

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, topping 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%. As a group, research analysts expect that Olin Co. will post 1.83 EPS for the current fiscal year.

Olin announced that its Board of Directors has initiated a stock repurchase program on Thursday, December 12th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the specialty chemicals company to reacquire up to 45% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its stock is undervalued.

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.