First Hawaiian Bank Buys 1,785 Shares of Olin Co. (NYSE:OLN)

First Hawaiian Bank raised its stake in Olin Co. (NYSE:OLN) by 9.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,642 shares of the specialty chemicals company’s stock after acquiring an additional 1,785 shares during the quarter. First Hawaiian Bank’s holdings in Olin were worth $732,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of Olin by 6.4% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 8,838,988 shares of the specialty chemicals company’s stock worth $424,095,000 after acquiring an additional 531,330 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Olin by 5.5% in the second quarter. Dimensional Fund Advisors LP now owns 3,741,007 shares of the specialty chemicals company’s stock worth $176,396,000 after acquiring an additional 194,755 shares during the last quarter. Pzena Investment Management LLC lifted its holdings in shares of Olin by 24.8% in the third quarter. Pzena Investment Management LLC now owns 3,452,708 shares of the specialty chemicals company’s stock worth $165,661,000 after acquiring an additional 685,710 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Olin by 2.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,295,699 shares of the specialty chemicals company’s stock worth $62,168,000 after acquiring an additional 37,043 shares during the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of Olin by 19.2% in the third quarter. Franklin Resources Inc. now owns 1,073,087 shares of the specialty chemicals company’s stock worth $51,015,000 after acquiring an additional 172,768 shares during the last quarter. Institutional investors own 88.67% of the company’s stock.

Olin Stock Performance

Shares of Olin stock opened at $31.02 on Friday. The company has a current ratio of 1.40, a quick ratio of 0.82 and a debt-to-equity ratio of 1.32. The business has a 50-day moving average price of $38.39 and a two-hundred day moving average price of $42.62. Olin Co. has a 1-year low of $30.95 and a 1-year high of $60.60. The company has a market cap of $3.62 billion, a P/E ratio of 25.02, a PEG ratio of 1.51 and a beta of 1.48.

Olin Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Thursday, November 14th were paid a $0.20 dividend. The ex-dividend date was Thursday, November 14th. This represents a $0.80 annualized dividend and a dividend yield of 2.58%. Olin’s dividend payout ratio is presently 64.52%.

Olin announced that its Board of Directors has approved a stock buyback 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 repurchase up to 45% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on OLN. Barclays dropped their price objective on shares of Olin from $45.00 to $43.00 and set an “equal weight” rating for the company in a report on Friday, December 13th. Royal Bank of Canada cut their target price on shares of Olin from $52.00 to $48.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 29th. Wells Fargo & Company cut their target price on shares of Olin from $48.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Monday, October 28th. BMO Capital Markets lowered their target price on Olin from $50.00 to $47.00 and set a “market perform” rating for the company in a research report on Tuesday, October 29th. Finally, Citigroup lowered their target price on Olin from $48.00 to $45.00 and set a “buy” rating for the company in a research report on Monday, December 16th. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $49.00.

Insider Activity

In other news, VP R Nichole Sumner sold 10,500 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $43.75, for a total value of $459,375.00. Following the completion of the sale, the vice president now directly owns 24,056 shares in the company, valued at $1,052,450. This trade represents a 30.39 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 1.60% of the stock is currently owned by company insiders.

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.