Walnut Level Capital LLC Has $3.75 Million Stock Position in Olin Co. (NYSE:OLN)

Walnut Level Capital LLC cut its stake in shares of Olin Co. (NYSE:OLN - Free Report) by 41.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 111,000 shares of the specialty chemicals company's stock after selling 77,339 shares during the period. Olin makes up 1.4% of Walnut Level Capital LLC's holdings, making the stock its 15th biggest holding. Walnut Level Capital LLC owned approximately 0.10% of Olin worth $3,752,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Spire Wealth Management increased its stake in Olin by 246.8% during the 4th 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 boosted its stake 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 valued at $82,000 after buying an additional 911 shares during the period. Blue Trust Inc. increased its stake in shares of Olin by 34.3% during the fourth quarter. Blue Trust Inc. now owns 2,887 shares of the specialty chemicals company's stock worth $98,000 after buying an additional 738 shares during the period. Raymond James Trust N.A. acquired a new stake in Olin in the third quarter valued at approximately $212,000. Finally, Crews Bank & Trust acquired a new position in Olin during the 4th quarter worth approximately $153,000. 88.67% of the stock is owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Barclays reaffirmed an "equal weight" rating on shares of Olin in a research report on Monday, February 3rd. Bank of America upgraded shares of Olin from a "neutral" rating to a "buy" rating and cut their price target for the stock from $48.00 to $40.00 in a research note on Tuesday, January 14th. Wells Fargo & Company restated an "equal weight" rating on shares of Olin in a research note on Monday, February 3rd. Citigroup decreased their target price on shares of Olin from $48.00 to $45.00 and set a "buy" rating for the company in a research note on Monday, December 16th. Finally, BMO Capital Markets reduced their target price on shares of Olin from $44.00 to $34.00 and set a "market perform" rating for the company in a research note on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $38.38.

Insider Activity at Olin

In other news, CEO Kenneth Todd Lane purchased 7,250 shares of Olin stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 7,250 shares in the company, valued at approximately $203,435. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.60% of the stock is owned by insiders.

Olin Stock Performance

Shares of NYSE:OLN traded down $0.15 during trading on Wednesday, hitting $24.58. 484,317 shares of the stock were exchanged, compared to its average volume of 1,406,066. The company has a market capitalization of $2.84 billion, a price-to-earnings ratio of 27.31 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. Olin Co. has a 1-year low of $22.98 and a 1-year high of $60.60. The company's fifty day simple moving average is $27.86 and its 200-day simple moving average is $36.43.

Olin (NYSE:OLN - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $0.09 EPS for the quarter, topping analysts' consensus estimates of ($0.01) by $0.10. Olin had a net margin of 1.66% and a return on equity of 5.10%. Sell-side analysts expect that Olin Co. will post 1.38 EPS for the current fiscal year.

Olin Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors 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 annualized dividend and a dividend yield of 3.25%. Olin's dividend payout ratio (DPR) is presently 88.89%.

Olin declared that its Board of Directors has approved a stock repurchase program on Thursday, December 12th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the specialty chemicals company to repurchase up to 45% of its shares through open market purchases. Shares repurchase programs are often a sign 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.