Corient Private Wealth LLC Acquires 1,374 Shares of Olin Co. (NYSE:OLN)

Corient Private Wealth LLC increased its holdings in Olin Co. (NYSE:OLN) by 6.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 21,724 shares of the specialty chemicals company’s stock after purchasing an additional 1,374 shares during the period. Corient Private Wealth LLC’s holdings in Olin were worth $734,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Spire Wealth Management grew its stake in shares of Olin by 246.8% in the fourth quarter. Spire Wealth Management now owns 1,616 shares of the specialty chemicals company’s stock worth $55,000 after acquiring an additional 1,150 shares during the period. Jones Financial Companies Lllp grew its position in Olin by 59.9% in the 4th quarter. Jones Financial Companies Lllp now owns 2,431 shares of the specialty chemicals company’s stock worth $82,000 after purchasing an additional 911 shares during the period. Blue Trust Inc. raised its stake in Olin by 34.3% during the 4th quarter. Blue Trust Inc. now owns 2,887 shares of the specialty chemicals company’s stock valued at $98,000 after buying an additional 738 shares during the last quarter. Raymond James Trust N.A. bought a new position in shares of Olin during the 3rd quarter valued at $212,000. Finally, Crews Bank & Trust purchased a new position in shares of Olin in the 4th quarter worth $153,000. Hedge funds and other institutional investors own 88.67% of the company’s stock.

Insider Activity

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 acquired 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 of the company’s stock, valued at approximately $203,435. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 1.60% of the company’s stock.

Olin Stock Up 1.9 %

Shares of OLN opened at $25.23 on Friday. Olin Co. has a 12-month low of $22.98 and a 12-month high of $60.60. The company has a current ratio of 1.27, a quick ratio of 0.77 and a debt-to-equity ratio of 1.32. The company has a market capitalization of $2.91 billion, a PE ratio of 28.04 and a beta of 1.61. The business’s 50 day moving average is $27.51 and its 200 day moving average is $36.27.

Olin (NYSE:OLN) 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 net margin of 1.66% and a return on equity of 5.10%. Research analysts expect that Olin Co. will post 1.38 earnings per share for the current fiscal year.

Olin announced that its board has initiated a share buyback plan on Thursday, December 12th that allows the company to buyback $2.00 billion in outstanding 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 an indication that the company’s leadership believes its shares are undervalued.

Olin Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, March 6th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.17%. The ex-dividend date of this dividend was Thursday, March 6th. Olin’s dividend payout ratio (DPR) is presently 88.89%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on OLN. Royal Bank of Canada cut Olin from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from $45.00 to $30.00 in a research report on Tuesday, February 4th. BMO Capital Markets lowered their price objective on shares of Olin from $44.00 to $34.00 and set a “market perform” rating on the stock in a research note on Wednesday, February 5th. Barclays reissued an “equal weight” rating on shares of Olin in a report on Monday, February 3rd. Bank of America upgraded shares of Olin from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $48.00 to $40.00 in a research note on Tuesday, January 14th. Finally, Wells Fargo & Company restated an “equal weight” rating on shares of Olin in a research note on Monday, February 3rd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $37.44.

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.