Olin Co. (NYSE:OLN) CEO Buys $203,435.00 in Stock

Olin Co. (NYSE:OLN - Get Free Report) CEO Kenneth Todd Lane bought 7,250 shares of Olin stock in a transaction that occurred on Tuesday, February 4th. The stock was bought at an average price of $28.06 per share, with a total value of $203,435.00. Following the completion of the acquisition, the chief executive officer now owns 7,250 shares in the company, valued at approximately $203,435. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Olin Price Performance

OLN stock traded down $0.06 during trading on Monday, hitting $28.16. The company had a trading volume of 1,502,866 shares, compared to its average volume of 1,823,944. The company has a fifty day moving average price of $34.03 and a two-hundred day moving average price of $40.31. 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 cap of $3.28 billion, a P/E ratio of 31.29, a P/E/G ratio of 0.91 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 (NYSE:OLN - Get Free Report) last issued 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 net margin of 1.66% and a return on equity of 5.10%. Equities research analysts expect that Olin Co. will post 1.83 earnings per share for the current fiscal year.

Olin announced that its board has authorized a stock buyback program on Thursday, December 12th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the specialty chemicals company to reacquire up to 45% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's management believes its stock is undervalued.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Farther Finance Advisors LLC increased its holdings in 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 purchasing an additional 276 shares in the last quarter. Covestor Ltd grew 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 worth $44,000 after purchasing an additional 715 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Olin in the third quarter valued at $47,000. Spire Wealth Management raised 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 buying an additional 1,150 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in Olin by 26.2% during the 3rd 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 in the last quarter. Institutional investors own 88.67% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on OLN. Bank of America raised Olin from a "neutral" rating to a "buy" rating and lowered their price target for the company from $48.00 to $40.00 in a research report on Tuesday, January 14th. Wells Fargo & Company dropped their price target on Olin from $40.00 to $31.00 and set an "equal weight" rating on the stock in a research report on Monday, February 3rd. Royal Bank of Canada cut 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. Truist Financial dropped their target price on shares of Olin from $38.00 to $32.00 and set a "hold" rating on the stock in a research report on Monday, February 3rd. Finally, Piper Sandler reduced their price target on shares of Olin from $51.00 to $41.00 and set an "overweight" rating for the company in a report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $40.94.

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.