Mitsubishi UFJ Trust & Banking Corp Buys 23,829 Shares of Olin Co. (NYSE:OLN)

Mitsubishi UFJ Trust & Banking Corp raised its holdings in Olin Co. (NYSE:OLN - Free Report) by 41.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 81,062 shares of the specialty chemicals company's stock after acquiring an additional 23,829 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned 0.07% of Olin worth $2,740,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Wilmington Savings Fund Society FSB increased its stake in Olin by 9.4% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 5,833 shares of the specialty chemicals company's stock worth $197,000 after purchasing an additional 500 shares in the last quarter. Connable Office Inc. raised its position in shares of Olin by 9.3% during the fourth quarter. Connable Office Inc. now owns 6,207 shares of the specialty chemicals company's stock worth $210,000 after purchasing an additional 527 shares during the period. First Citizens Bank & Trust Co. raised its holdings in shares of Olin by 8.5% in the fourth quarter. First Citizens Bank & Trust Co. now owns 6,930 shares of the specialty chemicals company's stock valued at $234,000 after purchasing an additional 542 shares during the last quarter. Captrust Financial Advisors raised its stake in Olin by 14.4% in the 3rd quarter. Captrust Financial Advisors now owns 4,998 shares of the specialty chemicals company's stock valued at $240,000 after acquiring an additional 630 shares during the period. Finally, Blue Trust Inc. raised its holdings in Olin by 34.3% in the 4th quarter. Blue Trust Inc. now owns 2,887 shares of the specialty chemicals company's stock valued at $98,000 after acquiring an additional 738 shares in the last quarter. 88.67% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company reduced their price objective on shares of Olin from $31.00 to $25.00 and set an "equal weight" rating for the company in a research report on Tuesday. Bank of America upgraded Olin from a "neutral" rating to a "buy" rating and cut their price target for the company from $48.00 to $40.00 in a report on Tuesday, January 14th. Piper Sandler downgraded shares of Olin from an "overweight" rating to a "neutral" rating and cut their price objective for the company from $41.00 to $33.00 in a report on Thursday, February 13th. Morgan Stanley dropped their target price 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. Finally, KeyCorp reduced their price target on shares of Olin from $50.00 to $40.00 and set an "overweight" rating on the stock in a research note on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $36.69.

Olin Stock Down 9.9 %

NYSE:OLN traded down $2.19 during trading hours on Friday, reaching $19.87. The company's stock had a trading volume of 1,358,568 shares, compared to its average volume of 1,464,606. Olin Co. has a 12 month low of $19.32 and a 12 month high of $60.60. The company has a market capitalization of $2.29 billion, a P/E ratio of 22.18 and a beta of 1.50. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.77 and a current ratio of 1.27. The stock has a 50 day moving average price of $26.52 and a two-hundred day moving average price of $35.66.

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, topping 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%. Equities analysts predict that Olin Co. will post 1.38 EPS for the current fiscal year.

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. This represents a $0.80 annualized dividend and a dividend yield of 4.03%. The ex-dividend date of this dividend was Thursday, March 6th. Olin's dividend payout ratio (DPR) is currently 88.89%.

Olin announced that its board 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 repurchase up to 45% of its shares through open market purchases. Shares buyback programs are often an indication that the company's board believes its shares are undervalued.

Insider Transactions at Olin

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

Olin 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.