Huber Capital Management LLC Increases Holdings in Olin Co. (NYSE:OLN)

Huber Capital Management LLC lifted its position in Olin Co. (NYSE:OLN - Free Report) by 23.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 186,754 shares of the specialty chemicals company's stock after purchasing an additional 35,118 shares during the quarter. Olin comprises about 1.3% of Huber Capital Management LLC's holdings, making the stock its 29th biggest holding. Huber Capital Management LLC owned approximately 0.16% of Olin worth $6,312,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Thrivent Financial for Lutherans lifted its stake in shares of Olin by 5,746.2% in the 4th quarter. Thrivent Financial for Lutherans now owns 1,613,796 shares of the specialty chemicals company's stock valued at $54,546,000 after purchasing an additional 1,586,192 shares during the last quarter. Norges Bank acquired a new position in Olin in the fourth quarter valued at about $47,887,000. Pzena Investment Management LLC lifted its position in Olin by 7.4% in the fourth quarter. Pzena Investment Management LLC now owns 3,709,611 shares of the specialty chemicals company's stock valued at $125,385,000 after buying an additional 256,903 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Olin during the fourth quarter worth about $6,779,000. Finally, Franklin Resources Inc. raised its stake in shares of Olin by 19.2% in the 3rd quarter. Franklin Resources Inc. now owns 1,073,087 shares of the specialty chemicals company's stock valued at $51,015,000 after acquiring an additional 172,768 shares during the period. 88.67% of the stock is currently owned by institutional investors and hedge funds.

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Olin Stock Performance

Shares of NYSE OLN traded down $0.62 during trading hours on Tuesday, reaching $18.55. The stock had a trading volume of 801,909 shares, compared to its average volume of 1,890,326. The company has a current ratio of 1.27, a quick ratio of 0.77 and a debt-to-equity ratio of 1.32. The firm has a market cap of $2.13 billion, a price-to-earnings ratio of 20.61 and a beta of 1.50. The firm has a 50-day moving average of $25.99 and a 200-day moving average of $35.21. Olin Co. has a fifty-two week low of $18.33 and a fifty-two week high of $59.31.

Olin (NYSE:OLN - Get Free Report) last announced 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 net margin of 1.66% and a return on equity of 5.10%. Equities research analysts predict that Olin Co. will post 1.38 earnings per share for the current year.

Olin Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, March 6th were given a dividend of $0.20 per share. The ex-dividend date was Thursday, March 6th. This represents a $0.80 dividend on an annualized basis and a yield of 4.31%. Olin's payout ratio is currently 88.89%.

Olin declared that its board has authorized a share buyback program 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 purchase up to 45% of its shares through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on OLN shares. KeyCorp lowered their price objective on shares of Olin from $50.00 to $40.00 and set an "overweight" rating for the company in a research report on Monday, February 3rd. Bank of America upgraded Olin from a "neutral" rating to a "buy" rating and lowered their price target for the stock from $48.00 to $40.00 in a research report on Tuesday, January 14th. Citigroup cut their price objective on Olin from $34.00 to $30.00 and set a "buy" rating on the stock in a report on Thursday, March 27th. Royal Bank of Canada lowered shares of Olin from an "outperform" rating to a "sector perform" rating and lowered their price objective for the company from $45.00 to $30.00 in a research note on Tuesday, February 4th. Finally, JPMorgan Chase & Co. lowered Olin from an "overweight" rating to a "neutral" rating and decreased their target price for the company from $50.00 to $28.00 in a report on Thursday, February 27th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Olin presently has an average rating of "Hold" and a consensus target price of $35.81.

Insider Transactions at Olin

In other Olin news, CEO Kenneth Todd Lane bought 7,250 shares of the business's 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 purchase, the chief executive officer now owns 7,250 shares in the company, valued at approximately $203,435. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.60% of the company's stock.

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.