Proficio Capital Partners LLC Buys 114,379 Shares of Olin Co. (NYSE:OLN)

Proficio Capital Partners LLC raised its holdings in shares of Olin Co. (NYSE:OLN - Free Report) by 2,101.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 119,821 shares of the specialty chemicals company's stock after buying an additional 114,379 shares during the quarter. Proficio Capital Partners LLC owned about 0.10% of Olin worth $4,050,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of OLN. Blue Trust Inc. raised its stake in shares of Olin by 34.3% in the fourth quarter. Blue Trust Inc. now owns 2,887 shares of the specialty chemicals company's stock valued at $98,000 after purchasing an additional 738 shares in the last quarter. Harbor Capital Advisors Inc. raised its stake in shares of Olin by 55.5% in the fourth quarter. Harbor Capital Advisors Inc. now owns 143,062 shares of the specialty chemicals company's stock valued at $4,835,000 after purchasing an additional 51,051 shares in the last quarter. Segall Bryant & Hamill LLC acquired a new position in shares of Olin in the third quarter valued at $916,000. Charles Schwab Investment Management Inc. raised its stake in shares of 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 in the last quarter. Finally, KBC Group NV raised its stake in shares of Olin by 82.9% in the fourth quarter. KBC Group NV now owns 5,461 shares of the specialty chemicals company's stock valued at $185,000 after purchasing an additional 2,476 shares in the last quarter. 88.67% of the stock is currently owned by institutional investors and hedge funds.

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Olin Trading Down 1.6 %

NYSE:OLN traded down $0.41 during mid-day trading on Friday, hitting $24.43. The company had a trading volume of 3,427,783 shares, compared to its average volume of 1,861,959. Olin Co. has a fifty-two week low of $22.98 and a fifty-two week high of $60.60. The business's fifty day moving average is $29.75 and its two-hundred day moving average is $38.07. 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 firm has a market cap of $2.82 billion, a P/E ratio of 27.14 and a beta of 1.61.

Olin (NYSE:OLN - Get Free Report) last released its earnings results on Thursday, January 30th. The specialty chemicals company reported $0.09 earnings per share for the quarter, beating 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%. As a group, research analysts expect that Olin Co. will post 1.38 earnings per share for the current year.

Olin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Thursday, March 6th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.28%. The ex-dividend date is Thursday, March 6th. Olin's payout ratio is 88.89%.

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

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. JPMorgan Chase & Co. cut Olin from an "overweight" rating to a "neutral" rating and lowered their price target for the company from $50.00 to $28.00 in a research report on Thursday, February 27th. Wells Fargo & Company reiterated an "equal weight" rating on shares of Olin in a research report on Monday, February 3rd. Citigroup decreased their target price on Olin from $48.00 to $45.00 and set a "buy" rating on the stock in a report on Monday, December 16th. KeyCorp decreased 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. Finally, Truist Financial decreased their target price on Olin from $38.00 to $32.00 and set a "hold" rating on the stock in a report on Monday, February 3rd. One equities research 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's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $38.38.

Insider Buying and Selling at Olin

In related news, CEO Kenneth Todd Lane bought 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, with a total value of $203,435.00. Following the completion of the purchase, the chief executive officer now owns 7,250 shares of the company's stock, valued at $203,435. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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.