Proficio Capital Partners LLC Has $4.05 Million Stock Holdings in Olin Co. (NYSE:OLN)

Proficio Capital Partners LLC boosted its position in shares of Olin Co. (NYSE:OLN) by 2,101.8% in the fourth quarter, Holdings Channel reports. The firm owned 119,821 shares of the specialty chemicals company’s stock after purchasing an additional 114,379 shares during the period. Proficio Capital Partners LLC’s holdings in Olin were worth $4,050,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Spire Wealth Management grew its holdings in shares of Olin by 246.8% in the 4th quarter. Spire Wealth Management now owns 1,616 shares of the specialty chemicals company’s stock valued at $55,000 after buying an additional 1,150 shares during the period. Jones Financial Companies Lllp lifted its holdings in Olin by 59.9% during the fourth 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 in the last quarter. Blue Trust Inc. grew its stake in Olin by 34.3% in the fourth quarter. Blue Trust Inc. now owns 2,887 shares of the specialty chemicals company’s stock valued at $98,000 after acquiring an additional 738 shares during the period. Crews Bank & Trust bought a new stake in shares of Olin in the fourth quarter worth about $153,000. Finally, KBC Group NV raised its position in shares of Olin by 82.9% during the fourth quarter. KBC Group NV now owns 5,461 shares of the specialty chemicals company’s stock worth $185,000 after purchasing an additional 2,476 shares during the period. Institutional investors own 88.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Morgan Stanley lowered their target price on Olin from $31.00 to $28.00 and set an “underweight” rating for the company in a research note on Tuesday, February 4th. KeyCorp lowered their price objective on shares of Olin from $50.00 to $40.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Piper Sandler lowered shares of Olin from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $41.00 to $33.00 in a report on Thursday, February 13th. 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. Finally, Royal Bank of Canada downgraded Olin from an “outperform” rating to a “sector perform” rating and dropped their price target for the company from $45.00 to $30.00 in a research note on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $38.38.

Olin Price Performance

Shares of OLN stock opened at $24.88 on Tuesday. Olin Co. has a twelve month low of $22.98 and a twelve month high of $60.60. 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 business has a fifty day simple moving average of $28.67 and a 200 day simple moving average of $37.18. The company has a market cap of $2.87 billion, a P/E ratio of 27.65 and a beta of 1.61.

Olin (NYSE:OLN) last posted 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 net margin of 1.66% and a return on equity of 5.10%. On average, sell-side analysts forecast that Olin Co. will post 1.38 EPS for the current fiscal year.

Olin Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, March 6th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date of this dividend was Thursday, March 6th. Olin’s payout ratio is 88.89%.

Olin declared that its board has initiated a stock buyback plan 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 plans are typically a sign that the company’s board believes its shares are undervalued.

Insider Activity at Olin

In other Olin news, CEO Kenneth Todd Lane acquired 7,250 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The stock was acquired at an average price of $28.06 per share, for a total transaction 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 represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.60% of the stock is currently owned by company 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.