24,369 Shares in Olin Co. (NYSE:OLN) Bought by Ieq Capital LLC

Ieq Capital LLC bought a new stake in Olin Co. (NYSE:OLN - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 24,369 shares of the specialty chemicals company's stock, valued at approximately $824,000.

Other institutional investors also recently bought and sold shares of the company. Farther Finance Advisors LLC grew its stake in Olin by 88.2% during the third quarter. Farther Finance Advisors LLC now owns 589 shares of the specialty chemicals company's stock worth $28,000 after buying an additional 276 shares during the period. Covestor Ltd grew its stake in Olin by 357.5% during the third 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 purchased a new stake in Olin during the third quarter worth approximately $47,000. Mirae Asset Global Investments Co. Ltd. grew its stake in 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 worth $75,000 after buying an additional 318 shares during the period. Finally, Spire Wealth Management grew its stake 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 buying an additional 1,150 shares during the period. 88.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Bank of America upgraded shares of Olin from a "neutral" rating to a "buy" rating and decreased their price objective for the stock from $48.00 to $40.00 in a research note on Tuesday, January 14th. JPMorgan Chase & Co. cut shares of Olin from an "overweight" rating to a "neutral" rating and dropped their target price for the stock from $50.00 to $28.00 in a report on Thursday. BMO Capital Markets dropped their target price 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. Piper Sandler lowered shares of Olin from an "overweight" rating to a "neutral" rating and lowered their price target for the stock from $41.00 to $33.00 in a research report on Thursday, February 13th. Finally, UBS Group set a $28.00 price target on shares of Olin in a research report on Thursday. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Olin has an average rating of "Hold" and an average price target of $38.38.

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Olin Price Performance

OLN traded up $0.24 on Friday, reaching $25.30. The company had a trading volume of 2,347,887 shares, compared to its average volume of 1,788,307. The company has a fifty day moving average of $30.66 and a 200-day moving average of $38.68. The company has a market capitalization of $2.92 billion, a P/E ratio of 28.11 and a beta of 1.45. 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 one year low of $24.49 and a one year high of $60.60.

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, equities research analysts anticipate that Olin Co. will post 1.38 earnings per share for the current year.

Olin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Thursday, March 6th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date is Thursday, March 6th. Olin's dividend payout ratio (DPR) is 88.89%.

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

Insider Transactions 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. 1.60% of the stock is owned by insiders.

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.