Swiss National Bank Cuts Holdings in Olin Co. (NYSE:OLN)

Swiss National Bank decreased its holdings in Olin Co. (NYSE:OLN) by 0.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 231,132 shares of the specialty chemicals company’s stock after selling 2,100 shares during the quarter. Swiss National Bank’s holdings in Olin were worth $7,812,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Wilmington Savings Fund Society FSB raised its position in shares of Olin by 9.4% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 5,833 shares of the specialty chemicals company’s stock worth $197,000 after acquiring an additional 500 shares in the last quarter. Connable Office Inc. grew its stake in Olin by 9.3% in the fourth quarter. Connable Office Inc. now owns 6,207 shares of the specialty chemicals company’s stock valued at $210,000 after purchasing an additional 527 shares during the last quarter. First Citizens Bank & Trust Co. raised its holdings in Olin by 8.5% in the fourth quarter. First Citizens Bank & Trust Co. now owns 6,930 shares of the specialty chemicals company’s stock worth $234,000 after purchasing an additional 542 shares in the last quarter. Captrust Financial Advisors raised its holdings in Olin by 14.4% in the third quarter. Captrust Financial Advisors now owns 4,998 shares of the specialty chemicals company’s stock worth $240,000 after purchasing an additional 630 shares in the last quarter. Finally, Blue Trust Inc. lifted its position in shares of Olin by 34.3% during the fourth 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. Hedge funds and other institutional investors own 88.67% of the company’s stock.

Insider Transactions at Olin

In other Olin news, CEO Kenneth Todd Lane purchased 7,250 shares of Olin stock in a transaction that occurred on Tuesday, February 4th. The stock was bought at an average price of $28.06 per share, with a total value of $203,435.00. Following the acquisition, the chief executive officer now owns 7,250 shares of the company’s stock, valued at $203,435. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Piper Sandler lowered shares of Olin from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $41.00 to $33.00 in a research note on Thursday, February 13th. UBS Group set a $28.00 price target on Olin in a research report on Thursday, February 27th. Royal Bank of Canada cut Olin from an “outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $45.00 to $30.00 in a research report on Tuesday, February 4th. Morgan Stanley reduced their target price on Olin from $31.00 to $28.00 and set an “underweight” rating on the stock in a research report on Tuesday, February 4th. Finally, Truist Financial lowered their price target on Olin from $38.00 to $32.00 and set a “hold” rating for the company in a report on Monday, February 3rd. 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. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $38.38.

Olin Stock Up 0.4 %

Olin stock opened at $24.98 on Friday. The business’s 50-day moving average price is $28.14 and its 200 day moving average price is $36.71. 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 firm has a market cap of $2.88 billion, a price-to-earnings ratio of 27.75 and a beta of 1.61. Olin Co. has a 52 week low of $22.98 and a 52 week high of $60.60.

Olin (NYSE:OLN) last issued its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $0.09 EPS for the quarter, topping 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%. As a group, sell-side analysts anticipate that Olin Co. will post 1.38 earnings per share for the current year.

Olin declared that its Board of Directors has authorized a stock buyback program on Thursday, December 12th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the specialty chemicals company to repurchase up to 45% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.

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 given a $0.20 dividend. The ex-dividend date was Thursday, March 6th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.20%. Olin’s dividend payout ratio (DPR) is currently 88.89%.

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.