SG Americas Securities LLC Sells 13,729 Shares of Olin Co. (NYSE:OLN)

SG Americas Securities LLC lessened its holdings in shares of Olin Co. (NYSE:OLN - Free Report) by 74.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,720 shares of the specialty chemicals company's stock after selling 13,729 shares during the quarter. SG Americas Securities LLC's holdings in Olin were worth $160,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in OLN. CWM LLC grew its position in Olin by 18.0% during the third quarter. CWM LLC now owns 8,668 shares of the specialty chemicals company's stock valued at $416,000 after acquiring an additional 1,324 shares during the period. UMB Bank n.a. boosted its holdings in Olin by 4,862.5% in the 3rd quarter. UMB Bank n.a. now owns 1,588 shares of the specialty chemicals company's stock worth $76,000 after acquiring an additional 1,556 shares during the period. Wedge Capital Management L L P NC grew its position in Olin by 36.6% in the third quarter. Wedge Capital Management L L P NC now owns 50,613 shares of the specialty chemicals company's stock valued at $2,428,000 after acquiring an additional 13,557 shares in the last quarter. Blue Trust Inc. increased its position in shares of Olin by 63.9% during the third quarter. Blue Trust Inc. now owns 2,149 shares of the specialty chemicals company's stock worth $101,000 after acquiring an additional 838 shares during the last quarter. Finally, First Citizens Bank & Trust Co. raised its position in shares of Olin by 14.1% in the 3rd quarter. First Citizens Bank & Trust Co. now owns 6,388 shares of the specialty chemicals company's stock valued at $306,000 after purchasing an additional 789 shares in the last quarter. Hedge funds and other institutional investors own 88.67% of the company's stock.

Insider Activity

In other Olin news, CEO Kenneth Todd Lane purchased 7,250 shares of the company's stock in a transaction dated Tuesday, February 4th. The shares were 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 directly owns 7,250 shares in the company, valued at $203,435. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on OLN shares. Morgan Stanley cut their target price on shares of Olin from $31.00 to $28.00 and set an "underweight" rating on the stock in a research note on Tuesday, February 4th. Bank of America upgraded shares of Olin from a "neutral" rating to a "buy" rating and lowered their price target for the stock from $48.00 to $40.00 in a research report on Tuesday, January 14th. Citigroup lowered their target price on Olin from $48.00 to $45.00 and set a "buy" rating on the stock in a research report on Monday, December 16th. Royal Bank of Canada lowered shares of Olin from an "outperform" rating to a "sector perform" rating and reduced their price target for the stock from $45.00 to $30.00 in a research note on Tuesday, February 4th. Finally, Piper Sandler lowered shares of Olin from an "overweight" rating to a "neutral" rating and lowered their price objective for the company from $41.00 to $33.00 in a research note on Thursday. One analyst has rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $40.44.

Olin Trading Down 0.2 %

NYSE OLN traded down $0.06 on Thursday, hitting $27.92. 1,541,269 shares of the stock were exchanged, compared to its average volume of 1,875,678. The company's 50-day moving average price is $33.17 and its two-hundred day moving average price is $39.97. The company has a market capitalization of $3.26 billion, a price-to-earnings ratio of 31.02, a P/E/G ratio of 0.91 and a beta of 1.45. Olin Co. has a 52-week low of $26.48 and a 52-week high of $60.60. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.27 and a quick ratio of 0.77.

Olin (NYSE:OLN - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $0.09 earnings per share 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 predict that Olin Co. will post 1.83 EPS for the current year.

Olin declared that its board has authorized a stock buyback plan on Thursday, December 12th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the specialty chemicals company to repurchase up to 45% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's board of directors believes its shares are undervalued.

About Olin

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.