Olin Co. (NYSE:OLN) Shares Acquired by Huber Capital Management LLC

Huber Capital Management LLC lifted its holdings in shares of Olin Co. (NYSE:OLN) by 23.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 186,754 shares of the specialty chemicals company’s stock after purchasing an additional 35,118 shares during the period. Olin comprises approximately 1.3% of Huber Capital Management LLC’s holdings, making the stock its 29th biggest holding. Huber Capital Management LLC owned 0.16% of Olin worth $6,312,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Pzena Investment Management LLC increased its position in Olin by 7.4% during the fourth quarter. Pzena Investment Management LLC now owns 3,709,611 shares of the specialty chemicals company’s stock worth $125,385,000 after buying an additional 256,903 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in Olin by 5,746.2% in the 4th quarter. Thrivent Financial for Lutherans now owns 1,613,796 shares of the specialty chemicals company’s stock valued at $54,546,000 after purchasing an additional 1,586,192 shares during the last quarter. Norges Bank purchased a new position in Olin in the 4th quarter valued at about $47,887,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Olin by 4.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,353,907 shares of the specialty chemicals company’s stock worth $45,762,000 after purchasing an additional 58,208 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Olin by 8.1% during the fourth quarter. Bank of New York Mellon Corp now owns 1,305,521 shares of the specialty chemicals company’s stock worth $44,127,000 after buying an additional 97,980 shares in the last quarter. 88.67% of the stock is currently owned by institutional investors and hedge funds.

Olin Trading Up 3.9 %

Shares of OLN opened at $24.71 on Thursday. Olin Co. has a 12 month low of $22.98 and a 12 month high of $60.60. The stock’s 50-day moving average is $26.75 and its two-hundred day moving average is $35.76. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.27 and a quick ratio of 0.77. The stock has a market cap of $2.84 billion, a PE ratio of 27.46 and a beta of 1.61.

Olin (NYSE:OLN) last issued 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%. Equities analysts forecast that Olin Co. will post 1.38 earnings per share for the current fiscal year.

Olin Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, March 6th were issued a $0.20 dividend. The ex-dividend date was Thursday, March 6th. This represents a $0.80 dividend on an annualized basis and a yield of 3.24%. Olin’s dividend payout ratio is currently 88.89%.

Olin announced that its board has authorized a share repurchase program on Thursday, December 12th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the specialty chemicals company to buy up to 45% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on OLN shares. Wells Fargo & Company decreased their target price on shares of Olin from $31.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Citigroup dropped their target price on Olin from $34.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday, March 27th. Truist Financial decreased their price target on Olin from $38.00 to $32.00 and set a “hold” rating on the stock in a research note on Monday, February 3rd. Morgan Stanley cut their price objective on shares of Olin from $31.00 to $28.00 and set an “underweight” rating on the stock in a report on Tuesday, February 4th. Finally, UBS Group set a $28.00 target price on shares of Olin in a report on Thursday, February 27th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Olin has a consensus rating of “Hold” and an average price target of $36.69.

Insider Activity

In other Olin news, CEO Kenneth Todd Lane acquired 7,250 shares of the stock in a transaction on Tuesday, February 4th. The stock was purchased at an average price of $28.06 per share, for a total transaction of $203,435.00. Following the purchase, 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 document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.60% of the company’s stock.

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.