Olin Co. (NYSE:OLN) Shares Sold by Yacktman Asset Management LP

Yacktman Asset Management LP decreased its holdings in shares of Olin Co. (NYSE:OLN - Free Report) by 0.6% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 3,897,996 shares of the specialty chemicals company's stock after selling 21,961 shares during the period. Olin accounts for about 1.5% of Yacktman Asset Management LP's portfolio, making the stock its 26th largest position. Yacktman Asset Management LP owned 3.34% of Olin worth $131,752,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of OLN. Farther Finance Advisors LLC increased its holdings in Olin by 88.2% during the third quarter. Farther Finance Advisors LLC now owns 589 shares of the specialty chemicals company's stock valued at $28,000 after buying an additional 276 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Olin by 26.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,534 shares of the specialty chemicals company's stock valued at $75,000 after acquiring an additional 318 shares during the period. Entropy Technologies LP raised its position in shares of Olin by 2.5% in the 3rd quarter. Entropy Technologies LP now owns 13,499 shares of the specialty chemicals company's stock worth $648,000 after acquiring an additional 332 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Olin by 3.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 11,830 shares of the specialty chemicals company's stock worth $568,000 after purchasing an additional 350 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB boosted its position in Olin by 9.4% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 5,833 shares of the specialty chemicals company's stock valued at $197,000 after purchasing an additional 500 shares in the last quarter. Institutional investors own 88.67% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Wells Fargo & Company reduced their target price on shares of Olin from $40.00 to $31.00 and set an "equal weight" rating for the company in a report on Monday, February 3rd. KeyCorp reduced their price objective on shares of Olin from $50.00 to $40.00 and set an "overweight" rating for the company in a research note on Monday, February 3rd. Morgan Stanley lowered their target price on shares of Olin from $31.00 to $28.00 and set an "underweight" rating for the company in a research note on Tuesday, February 4th. Piper Sandler downgraded Olin from an "overweight" rating to a "neutral" rating and reduced their price target for the stock from $41.00 to $33.00 in a research report on Thursday. Finally, Citigroup decreased their price objective on Olin from $48.00 to $45.00 and set a "buy" rating for the company in a report on Monday, December 16th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Olin presently has a consensus rating of "Hold" and an average price target of $40.44.

Insider Buying and Selling at Olin

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

Olin Stock Performance

Shares of Olin stock traded down $0.14 on Friday, reaching $27.74. 832,541 shares of the stock were exchanged, compared to its average volume of 1,840,242. Olin Co. has a twelve month low of $26.48 and a twelve month high of $60.60. The business has a 50 day moving average price of $32.91 and a two-hundred day moving average price of $39.89. The company has a quick ratio of 0.77, a current ratio of 1.27 and a debt-to-equity ratio of 1.32. The firm has a market capitalization of $3.23 billion, a price-to-earnings ratio of 30.82, a PEG ratio of 0.91 and a beta of 1.45.

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, beating the consensus estimate of ($0.01) by $0.10. Olin had a net margin of 1.66% and a return on equity of 5.10%. Analysts anticipate that Olin Co. will post 1.83 earnings per share for the current fiscal year.

Olin declared that its board has authorized a share repurchase plan on Thursday, December 12th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the specialty chemicals company to buy up to 45% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board believes its shares are undervalued.

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.