Natixis Advisors LLC Takes $431,000 Position in Olin Co. (NYSE:OLN)

Natixis Advisors LLC bought a new position in Olin Co. (NYSE:OLN - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 12,755 shares of the specialty chemicals company's stock, valued at approximately $431,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its stake in shares of Olin by 2.9% in 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 during the period. Raymond James Trust N.A. purchased a new position in Olin in the third quarter valued at about $212,000. Cerity Partners LLC lifted its position in shares of Olin by 116.7% during the 3rd quarter. Cerity Partners LLC now owns 115,779 shares of the specialty chemicals company's stock valued at $5,555,000 after acquiring an additional 62,352 shares during the period. Bridgewater Associates LP boosted its stake in shares of Olin by 286.3% during the 3rd quarter. Bridgewater Associates LP now owns 55,424 shares of the specialty chemicals company's stock worth $2,659,000 after acquiring an additional 41,078 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Olin in the 3rd quarter worth approximately $1,522,000. Hedge funds and other institutional investors own 88.67% of the company's stock.

Olin Trading Down 1.4 %

Shares of Olin stock traded down $0.35 during trading hours on Monday, reaching $24.22. 2,008,370 shares of the company's stock were exchanged, compared to its average volume of 1,457,270. The firm has a market capitalization of $2.79 billion, a price-to-earnings ratio of 26.91 and a beta of 1.61. 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 fifty day moving average of $27.14 and a 200-day moving average of $35.97.

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Olin (NYSE:OLN - Get Free Report) last released its earnings results on Thursday, January 30th. The specialty chemicals company reported $0.09 earnings per share 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%. Sell-side analysts forecast that Olin Co. will post 1.38 EPS for the current fiscal year.

Olin declared that its board has authorized a stock repurchase plan on Thursday, December 12th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the specialty chemicals company to repurchase up to 45% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

Olin Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, March 6th were issued a $0.20 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $0.80 dividend on an annualized basis and a yield of 3.30%. Olin's payout ratio is 88.89%.

Insider Buying and Selling

In other news, CEO Kenneth Todd Lane purchased 7,250 shares of the stock in a transaction on Tuesday, February 4th. The stock was purchased at an average price of $28.06 per share, with a total value of $203,435.00. Following the completion of the transaction, the chief executive officer now owns 7,250 shares in the company, valued at approximately $203,435. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms recently weighed in on OLN. KeyCorp dropped their price objective on Olin from $50.00 to $40.00 and set an "overweight" rating for the company in a research note on Monday, February 3rd. JPMorgan Chase & Co. downgraded Olin from an "overweight" rating to a "neutral" rating and cut their price target for the stock from $50.00 to $28.00 in a research note on Thursday, February 27th. Morgan Stanley decreased their price objective on shares of Olin from $31.00 to $28.00 and set an "underweight" rating on the stock 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 for the company in a report on Monday, February 3rd. Finally, Bank of America raised shares of Olin from a "neutral" rating to a "buy" rating and reduced their price target for the company from $48.00 to $40.00 in a report on Tuesday, January 14th. One 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. According to MarketBeat.com, Olin currently has a consensus rating of "Hold" and an average target price of $37.44.

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.