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

Proficio Capital Partners LLC grew its holdings in shares of Olin Co. (NYSE:OLN - Free Report) by 2,101.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 119,821 shares of the specialty chemicals company's stock after acquiring an additional 114,379 shares during the quarter. Proficio Capital Partners LLC owned 0.10% of Olin worth $4,050,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in OLN. Empowered Funds LLC grew its holdings in shares of Olin by 126.9% during the third quarter. Empowered Funds LLC now owns 20,498 shares of the specialty chemicals company's stock worth $983,000 after purchasing an additional 11,466 shares during the last quarter. Segall Bryant & Hamill LLC bought a new stake in shares of Olin during the third quarter worth about $916,000. Commerce Bank grew its holdings in shares of Olin by 48.0% during the third quarter. Commerce Bank now owns 18,069 shares of the specialty chemicals company's stock worth $867,000 after purchasing an additional 5,863 shares during the last quarter. Pzena Investment Management LLC boosted its holdings in Olin by 24.8% in the third quarter. Pzena Investment Management LLC now owns 3,452,708 shares of the specialty chemicals company's stock valued at $165,661,000 after acquiring an additional 685,710 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted 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 acquiring an additional 37,043 shares during the last quarter. 88.67% of the stock is currently owned by institutional investors.

Remove Ads

Olin Stock Performance

NYSE:OLN traded up $0.10 during trading on Friday, reaching $24.98. The company's stock had a trading volume of 5,355,649 shares, compared to its average volume of 1,406,985. The firm has a market cap of $2.88 billion, a price-to-earnings ratio of 27.75 and a beta of 1.61. 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 50 day moving average of $28.26 and a 200-day moving average of $36.88. Olin Co. has a 12 month low of $22.98 and a 12 month high of $60.60.

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

Olin Announces Dividend

The company also recently declared 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 of this dividend was Thursday, March 6th. This represents a $0.80 annualized dividend and a dividend yield of 3.20%. Olin's payout ratio is 88.89%.

Olin declared that its board has authorized a stock repurchase 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 reacquire up to 45% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board believes its shares are undervalued.

Analyst Ratings Changes

Several analysts recently commented on OLN shares. Truist Financial reduced 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. Wells Fargo & Company reiterated an "equal weight" rating on shares of Olin in a report on Monday, February 3rd. BMO Capital Markets reduced their target price on Olin from $44.00 to $34.00 and set a "market perform" rating on the stock in a report on Wednesday, February 5th. Bank of America raised Olin from a "neutral" rating to a "buy" rating and dropped their price target for the company from $48.00 to $40.00 in a research note on Tuesday, January 14th. Finally, KeyCorp dropped their price target on Olin from $50.00 to $40.00 and set an "overweight" rating on the stock in a research note on Monday, February 3rd. One research analyst has rated the stock with a sell rating, eleven have assigned 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 Transactions at Olin

In other news, CEO Kenneth Todd Lane purchased 7,250 shares of the business's stock in a transaction dated Tuesday, February 4th. The stock was bought at an average price of $28.06 per share, for a total transaction of $203,435.00. Following the purchase, the chief executive officer now 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.60% of the stock is owned by corporate insiders.

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.