Vanguard Group Inc. Grows Stock Holdings in Olin Co. (NYSE:OLN)

Vanguard Group Inc. grew its stake in Olin Co. (NYSE:OLN - Free Report) by 0.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,502,980 shares of the specialty chemicals company's stock after buying an additional 19,920 shares during the quarter. Vanguard Group Inc. owned approximately 9.87% of Olin worth $388,801,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Thrivent Financial for Lutherans boosted its stake in shares of Olin by 5,746.2% in the fourth quarter. Thrivent Financial for Lutherans now owns 1,613,796 shares of the specialty chemicals company's stock worth $54,546,000 after acquiring an additional 1,586,192 shares during the period. Pzena Investment Management LLC boosted its stake in Olin by 7.4% in the 4th quarter. Pzena Investment Management LLC now owns 3,709,611 shares of the specialty chemicals company's stock worth $125,385,000 after purchasing an additional 256,903 shares during the period. Raymond James Financial Inc. bought a new position in Olin in the 4th quarter worth approximately $6,779,000. Franklin Resources Inc. grew 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 valued at $51,015,000 after buying an additional 172,768 shares in the last quarter. Finally, Holocene Advisors LP raised its position in shares of Olin by 504.9% during the third quarter. Holocene Advisors LP now owns 167,186 shares of the specialty chemicals company's stock valued at $8,022,000 after buying an additional 139,549 shares during the last quarter. 88.67% of the stock is owned by hedge funds and other institutional investors.

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Olin Stock Down 4.6 %

OLN traded down $0.93 on Monday, hitting $19.17. 3,317,187 shares of the company were exchanged, compared to its average volume of 1,484,180. 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 market cap of $2.21 billion, a price-to-earnings ratio of 21.30 and a beta of 1.50. The firm has a 50-day moving average price of $25.99 and a two-hundred day moving average price of $35.21. Olin Co. has a twelve month low of $18.59 and a twelve month high of $59.31.

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 (EPS) for the quarter, topping analysts' consensus estimates of ($0.01) by $0.10. Olin had a return on equity of 5.10% and a net margin of 1.66%. On average, equities analysts predict that Olin Co. will post 1.38 earnings per share for the current year.

Olin declared that its Board of Directors has initiated a share repurchase program on Thursday, December 12th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the specialty chemicals company to buy up to 45% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management believes its stock is undervalued.

Olin Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, March 6th were paid a dividend of $0.20 per share. The ex-dividend date was Thursday, March 6th. This represents a $0.80 annualized dividend and a dividend yield of 4.17%. Olin's dividend payout ratio (DPR) is 88.89%.

Insider Buying and Selling

In related news, CEO Kenneth Todd Lane bought 7,250 shares of the firm's stock in a transaction on Tuesday, February 4th. The shares were bought at an average cost of $28.06 per share, for a total transaction of $203,435.00. Following the transaction, the chief executive officer now owns 7,250 shares of the company's stock, valued at approximately $203,435. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.60% of the company's stock.

Analyst Ratings Changes

OLN has been the subject of a number of research reports. Piper Sandler lowered their target price on Olin from $33.00 to $26.00 and set a "neutral" rating for the company in a research report on Monday. JPMorgan Chase & Co. cut shares of Olin from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $50.00 to $28.00 in a research note on Thursday, February 27th. Wells Fargo & Company decreased their target price on shares of Olin from $31.00 to $25.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 1st. BMO Capital Markets lowered their price target on shares of Olin from $44.00 to $34.00 and set a "market perform" rating for the company in a report on Wednesday, February 5th. Finally, Citigroup reduced their price objective on Olin from $34.00 to $30.00 and set a "buy" rating on the stock in a research note on Thursday, March 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 company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $35.81.

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.