Olin Co. (NYSE:OLN) Shares Purchased by Larson Financial Group LLC

Larson Financial Group LLC boosted its stake in Olin Co. (NYSE:OLN) by 29.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,540 shares of the specialty chemicals company’s stock after buying an additional 8,831 shares during the period. Larson Financial Group LLC’s holdings in Olin were worth $1,303,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in OLN. Farther Finance Advisors LLC increased its position in Olin by 88.2% in the third quarter. Farther Finance Advisors LLC now owns 589 shares of the specialty chemicals company’s stock worth $28,000 after buying an additional 276 shares during the period. Covestor Ltd increased its position in Olin by 357.5% in the third quarter. Covestor Ltd now owns 915 shares of the specialty chemicals company’s stock worth $44,000 after buying an additional 715 shares during the period. Capital Performance Advisors LLP acquired a new stake in Olin in the third quarter worth $47,000. Spire Wealth Management increased its position in 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 buying an additional 1,150 shares during the period. Finally, Jones Financial Companies Lllp increased its position in Olin by 59.9% in the fourth quarter. Jones Financial Companies Lllp now owns 2,431 shares of the specialty chemicals company’s stock worth $82,000 after buying an additional 911 shares during the period. 88.67% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Kenneth Todd Lane purchased 7,250 shares of the business’s stock in a transaction dated Tuesday, February 4th. The stock was bought at an average cost of $28.06 per share, with a total value of $203,435.00. Following the purchase, the chief executive officer now directly owns 7,250 shares of the company’s stock, valued at approximately $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 can be accessed through the SEC website. Company insiders own 1.60% of the company’s stock.

Olin Stock Down 1.6 %

Shares of Olin stock opened at $24.43 on Friday. The stock has a 50-day moving average price of $29.75 and a 200 day moving average price of $38.04. The company has a market cap of $2.82 billion, a P/E ratio of 27.14 and a beta of 1.61. The company has a current ratio of 1.27, a quick ratio of 0.77 and a debt-to-equity ratio of 1.32. Olin Co. has a 1 year low of $22.98 and a 1 year high of $60.60.

Olin (NYSE:OLN) last announced its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.10. Olin had a return on equity of 5.10% and a net margin of 1.66%. As a group, analysts expect that Olin Co. will post 1.38 EPS for the current fiscal year.

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

Olin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Thursday, March 6th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.28%. The ex-dividend date is Thursday, March 6th. Olin’s dividend payout ratio is currently 88.89%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Truist Financial dropped their target price on Olin from $38.00 to $32.00 and set a “hold” rating on the stock in a research report on Monday, February 3rd. Morgan Stanley decreased their price target on Olin from $31.00 to $28.00 and set an “underweight” rating for the company in a research note on Tuesday, February 4th. Barclays reissued an “equal weight” rating on shares of Olin in a research note on Monday, February 3rd. KeyCorp decreased their price target on Olin from $50.00 to $40.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Finally, BMO Capital Markets decreased their price target on Olin from $44.00 to $34.00 and set a “market perform” rating for the company in a research note on Wednesday, February 5th. One equities 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’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $38.38.

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.