Thrivent Financial for Lutherans Has $54.55 Million Stock Holdings in Olin Co. (NYSE:OLN)

Thrivent Financial for Lutherans grew its holdings in Olin Co. (NYSE:OLN - Free Report) by 5,746.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,613,796 shares of the specialty chemicals company's stock after buying an additional 1,586,192 shares during the quarter. Thrivent Financial for Lutherans owned approximately 1.38% of Olin worth $54,546,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in OLN. Pzena Investment Management LLC grew its holdings in Olin by 24.8% during the 3rd quarter. Pzena Investment Management LLC now owns 3,452,708 shares of the specialty chemicals company's stock worth $165,661,000 after acquiring an additional 685,710 shares during the last quarter. Hotchkis & Wiley Capital Management LLC grew its stake in shares of Olin by 6.4% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 8,838,988 shares of the specialty chemicals company's stock valued at $424,095,000 after purchasing an additional 531,330 shares during the last quarter. Verition Fund Management LLC increased its holdings in shares of Olin by 70.9% in the third quarter. Verition Fund Management LLC now owns 544,814 shares of the specialty chemicals company's stock valued at $26,140,000 after purchasing an additional 225,930 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Olin during the 4th quarter worth $6,779,000. Finally, Franklin Resources Inc. lifted its holdings in 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 buying an additional 172,768 shares in the last quarter. 88.67% of the stock is owned by institutional investors.

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Olin Stock Up 1.6 %

Shares of NYSE:OLN traded up $0.40 during trading on Monday, hitting $25.39. 1,663,891 shares of the company's stock traded hands, compared to its average volume of 1,409,084. 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 company has a 50-day moving average price of $28.14 and a 200-day moving average price of $36.67. Olin Co. has a 52 week low of $22.98 and a 52 week high of $60.60. The company has a market cap of $2.93 billion, a price-to-earnings ratio of 28.22 and a beta of 1.61.

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

Olin declared that its board has authorized a share repurchase plan on Thursday, December 12th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the specialty chemicals company to reacquire up to 45% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's management believes its shares are undervalued.

Olin Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, March 6th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date was Thursday, March 6th. Olin's dividend payout ratio (DPR) is presently 88.89%.

Insider Buying and Selling at Olin

In other Olin news, CEO Kenneth Todd Lane purchased 7,250 shares of the firm's stock in a transaction dated Tuesday, February 4th. The stock was bought 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 directly owns 7,250 shares of the company's stock, valued at $203,435. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 1.60% of the company's stock.

Analysts Set New Price Targets

OLN has been the topic of several research reports. Morgan Stanley cut their price target on Olin from $31.00 to $28.00 and set an "underweight" rating on the stock in a research note on Tuesday, February 4th. Bank of America raised shares of Olin from a "neutral" rating to a "buy" rating and reduced their target price for the company from $48.00 to $40.00 in a research note on Tuesday, January 14th. Citigroup dropped their price target 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. Wells Fargo & Company reaffirmed an "equal weight" rating on shares of Olin in a research note on Monday, February 3rd. Finally, Piper Sandler cut shares of Olin from an "overweight" rating to a "neutral" rating and dropped their target price for the company from $41.00 to $33.00 in a research report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $38.38.

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.