Virtu Financial LLC Takes $372,000 Position in Olin Co. (NYSE:OLN)

Virtu Financial LLC bought a new stake in Olin Co. (NYSE:OLN - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 11,004 shares of the specialty chemicals company's stock, valued at approximately $372,000.

Several other institutional investors have also added to or reduced their stakes in OLN. Wilmington Savings Fund Society FSB grew its position in shares of Olin by 9.4% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 5,833 shares of the specialty chemicals company's stock worth $197,000 after buying an additional 500 shares during the period. Connable Office Inc. grew its holdings in Olin by 9.3% in the fourth quarter. Connable Office Inc. now owns 6,207 shares of the specialty chemicals company's stock worth $210,000 after purchasing an additional 527 shares during the period. First Citizens Bank & Trust Co. increased its stake in Olin by 8.5% in the fourth quarter. First Citizens Bank & Trust Co. now owns 6,930 shares of the specialty chemicals company's stock valued at $234,000 after purchasing an additional 542 shares in the last quarter. Captrust Financial Advisors raised its holdings in shares of Olin by 14.4% during the third quarter. Captrust Financial Advisors now owns 4,998 shares of the specialty chemicals company's stock valued at $240,000 after purchasing an additional 630 shares during the period. Finally, Blue Trust Inc. boosted its position in shares of Olin by 34.3% during the 4th quarter. Blue Trust Inc. now owns 2,887 shares of the specialty chemicals company's stock worth $98,000 after purchasing an additional 738 shares in the last quarter. 88.67% of the stock is currently owned by institutional investors.

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Wall Street Analyst Weigh In

Several research analysts have issued reports on OLN shares. UBS Group set a $28.00 price target on Olin in a report on Thursday, February 27th. Truist Financial cut 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. Bank of America upgraded shares of Olin from a "neutral" rating to a "buy" rating and decreased their price target for the company from $48.00 to $40.00 in a research note on Tuesday, January 14th. Barclays reaffirmed an "equal weight" rating on shares of Olin in a research note on Monday, February 3rd. Finally, Morgan Stanley decreased their target price on shares of Olin from $31.00 to $28.00 and set an "underweight" rating for the company in a research report on Tuesday, February 4th. One investment 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. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $37.44.

Olin Stock Down 2.8 %

OLN stock traded down $0.70 on Friday, reaching $24.55. 1,473,961 shares of the company traded hands, compared to its average volume of 1,455,066. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.27 and a quick ratio of 0.77. The firm has a fifty day simple moving average of $27.33 and a 200-day simple moving average of $36.09. Olin Co. has a one year low of $22.98 and a one year high of $60.60. The company has a market cap of $2.82 billion, a P/E ratio of 27.27 and a beta of 1.61.

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

Olin Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, March 6th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.26%. Olin's payout ratio is currently 88.89%.

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

Insider Activity at Olin

In other news, CEO Kenneth Todd Lane acquired 7,250 shares of the firm's stock in a transaction dated Tuesday, February 4th. The shares were purchased at an average cost of $28.06 per share, for a total transaction of $203,435.00. Following the transaction, the chief executive officer now directly owns 7,250 shares of the company's stock, valued at approximately $203,435. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.60% of the stock is currently owned by corporate insiders.

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.