Olin Co. (NYSE:OLN) Shares Purchased by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund lifted its holdings in shares of Olin Co. (NYSE:OLN - Free Report) by 34.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 65,395 shares of the specialty chemicals company's stock after purchasing an additional 16,728 shares during the quarter. Illinois Municipal Retirement Fund owned about 0.06% of Olin worth $2,210,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Blue Trust Inc. boosted its stake in Olin by 34.3% in the 4th quarter. Blue Trust Inc. now owns 2,887 shares of the specialty chemicals company's stock worth $98,000 after buying an additional 738 shares during the last quarter. Harbor Capital Advisors Inc. lifted its holdings in shares of Olin by 55.5% during the 4th quarter. Harbor Capital Advisors Inc. now owns 143,062 shares of the specialty chemicals company's stock worth $4,835,000 after acquiring an additional 51,051 shares during the period. Segall Bryant & Hamill LLC acquired a new stake in shares of Olin in the third quarter worth approximately $916,000. Charles Schwab Investment Management Inc. grew its holdings in 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. Finally, KBC Group NV increased its position in Olin by 82.9% during the fourth quarter. KBC Group NV now owns 5,461 shares of the specialty chemicals company's stock worth $185,000 after purchasing an additional 2,476 shares during the last quarter. Hedge funds and other institutional investors own 88.67% of the company's stock.

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Olin Stock Down 5.9 %

OLN stock traded down $1.49 during trading on Monday, reaching $23.90. The stock had a trading volume of 2,295,439 shares, compared to its average volume of 1,800,879. 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 fifty day moving average price of $30.66 and a 200 day moving average price of $38.65. The company has a market capitalization of $2.76 billion, a P/E ratio of 26.56 and a beta of 1.45. Olin Co. has a 1-year low of $23.86 and a 1-year high of $60.60.

Olin (NYSE:OLN - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $0.09 earnings per share (EPS) 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%. On average, equities analysts anticipate that Olin Co. will post 1.38 earnings per share for the current year.

Olin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Thursday, March 6th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.35%. Olin's dividend payout ratio (DPR) is presently 88.89%.

Olin announced that its Board of Directors has authorized a share buyback plan on Thursday, December 12th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the specialty chemicals company to purchase up to 45% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on OLN. Truist Financial decreased their price target on shares of Olin from $38.00 to $32.00 and set a "hold" rating on the stock in a report on Monday, February 3rd. KeyCorp reduced their target price on Olin from $50.00 to $40.00 and set an "overweight" rating on the stock in a report on Monday, February 3rd. Wells Fargo & Company restated an "equal weight" rating on shares of Olin in a research note on Monday, February 3rd. Piper Sandler downgraded Olin from an "overweight" rating to a "neutral" rating and cut their price objective for the stock from $41.00 to $33.00 in a report on Thursday, February 13th. Finally, UBS Group set a $28.00 target price on Olin in a report on Thursday. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $38.38.

Insider Activity

In other news, CEO Kenneth Todd Lane acquired 7,250 shares of the business's stock in a transaction on Tuesday, February 4th. The shares were purchased at an average price of $28.06 per share, for a total transaction of $203,435.00. Following the completion of the purchase, the chief executive officer now directly owns 7,250 shares of the company's stock, valued at $203,435. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company 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.