Quantbot Technologies LP Invests $3.96 Million in Olin Co. (NYSE:OLN)

Quantbot Technologies LP purchased a new position in shares of Olin Co. (NYSE:OLN - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 117,040 shares of the specialty chemicals company's stock, valued at approximately $3,956,000. Quantbot Technologies LP owned 0.10% of Olin at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the stock. Spire Wealth Management increased its position in Olin by 246.8% in the fourth quarter. Spire Wealth Management now owns 1,616 shares of the specialty chemicals company's stock worth $55,000 after buying an additional 1,150 shares during the period. Jones Financial Companies Lllp increased its holdings in shares of Olin by 59.9% in the 4th quarter. Jones Financial Companies Lllp now owns 2,431 shares of the specialty chemicals company's stock worth $82,000 after acquiring an additional 911 shares during the period. Blue Trust Inc. increased its holdings in shares of 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 acquiring an additional 738 shares during the period. Crews Bank & Trust bought a new stake in Olin in the 4th quarter valued at about $153,000. Finally, KBC Group NV boosted its stake in Olin by 82.9% during the 4th 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 during the period. Institutional investors own 88.67% of the company's stock.

Insider Activity at Olin

In other news, CEO Kenneth Todd Lane bought 7,250 shares of the business's stock in a transaction on Tuesday, February 4th. The stock was purchased at an average price of $28.06 per share, with a total value of $203,435.00. Following the transaction, the chief executive officer now directly owns 7,250 shares in the company, valued at approximately $203,435. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.60% of the stock is currently owned by company insiders.

Remove Ads

Analysts Set New Price Targets

OLN has been the topic of a number of recent analyst reports. Royal Bank of Canada cut Olin from an "outperform" rating to a "sector perform" rating and cut their price target for the company from $45.00 to $30.00 in a report on Tuesday, February 4th. Barclays reiterated an "equal weight" rating on shares of Olin in a research report on Monday, February 3rd. JPMorgan Chase & Co. lowered 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 report on Thursday, February 27th. Piper Sandler cut shares of Olin from an "overweight" rating to a "neutral" rating and lowered their target price for the company from $41.00 to $33.00 in a research note on Thursday, February 13th. Finally, Bank of America upgraded Olin from a "neutral" rating to a "buy" rating and lowered their price target for the company from $48.00 to $40.00 in a research report on Tuesday, January 14th. One investment 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. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $38.38.

Olin Stock Up 0.1 %

Shares of OLN traded up $0.03 during trading hours on Wednesday, hitting $24.76. 1,221,816 shares of the company were exchanged, compared to its average volume of 1,408,831. 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 company has a market cap of $2.86 billion, a PE ratio of 27.51 and a beta of 1.61. The firm's 50 day moving average is $27.86 and its 200-day moving average is $36.43. Olin Co. has a 52 week low of $22.98 and a 52 week high of $60.60.

Olin (NYSE:OLN - Get Free Report) last posted its earnings results on Thursday, January 30th. The specialty chemicals company reported $0.09 earnings per share 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 research analysts forecast that Olin Co. will post 1.38 EPS for the current fiscal year.

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

Olin Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, March 6th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.23%. The ex-dividend date was Thursday, March 6th. Olin's dividend payout ratio is currently 88.89%.

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.