98,170 Shares in Olin Co. (NYSE:OLN) Bought by Madison Investment Advisors LLC

Madison Investment Advisors LLC purchased a new position in Olin Co. (NYSE:OLN) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 98,170 shares of the specialty chemicals company’s stock, valued at approximately $3,318,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Spire Wealth Management grew its stake 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 purchasing an additional 1,150 shares during the period. Jones Financial Companies Lllp grew its stake 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 purchasing an additional 911 shares during the period. Blue Trust Inc. grew its stake in Olin by 34.3% in the fourth quarter. Blue Trust Inc. now owns 2,887 shares of the specialty chemicals company’s stock worth $98,000 after purchasing an additional 738 shares during the period. Crews Bank & Trust purchased a new stake in Olin in the fourth quarter worth $153,000. Finally, KBC Group NV grew its stake in Olin by 82.9% in the fourth quarter. KBC Group NV now owns 5,461 shares of the specialty chemicals company’s stock worth $185,000 after purchasing an additional 2,476 shares during the period. 88.67% of the stock is owned by hedge funds and other institutional investors.

Olin Stock Up 0.4 %

OLN stock opened at $24.98 on Friday. Olin Co. has a fifty-two week low of $22.98 and a fifty-two week high of $60.60. The business’s 50-day moving average is $28.14 and its two-hundred day moving average is $36.75. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.77 and a current ratio of 1.27. The company has a market cap of $2.88 billion, a price-to-earnings ratio of 27.75 and a beta of 1.61.

Olin (NYSE:OLN) last posted its earnings results on Thursday, January 30th. The specialty chemicals company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates 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 forecast that Olin Co. will post 1.38 earnings per share for the current year.

Olin declared that its board has approved a stock repurchase program on Thursday, December 12th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the specialty chemicals company to buy up to 45% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

Olin Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, March 6th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date of this dividend was Thursday, March 6th. Olin’s dividend payout ratio is 88.89%.

Insider Transactions at Olin

In related news, CEO Kenneth Todd Lane acquired 7,250 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The shares were purchased at an average price of $28.06 per share, with a total value of $203,435.00. Following the completion of the purchase, the chief executive officer now directly owns 7,250 shares of the company’s stock, valued at $203,435. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

OLN has been the topic of a number of recent research reports. Truist Financial cut their target price on Olin from $38.00 to $32.00 and set a “hold” rating on the stock in a research note on Monday, February 3rd. KeyCorp cut their target price on Olin from $50.00 to $40.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Barclays reissued an “equal weight” rating on shares of Olin in a research note on Monday, February 3rd. Wells Fargo & Company reissued an “equal weight” rating on shares of Olin in a research note on Monday, February 3rd. Finally, UBS Group set a $28.00 target price on Olin in a research note on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price 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.