Oarsman Capital Inc. Increases Position in Olin Co. (NYSE:OLN)

Oarsman Capital Inc. boosted its stake in shares of Olin Co. (NYSE:OLN) by 44.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,040 shares of the specialty chemicals company’s stock after purchasing an additional 11,440 shares during the quarter. Oarsman Capital Inc.’s holdings in Olin were worth $1,252,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in OLN. Spire Wealth Management boosted its holdings 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 acquiring an additional 1,150 shares in the last quarter. CoreFirst Bank & Trust purchased a new position in shares of Olin in the 4th quarter valued at about $66,000. Jones Financial Companies Lllp boosted its position in Olin by 59.9% during 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 in the last quarter. Blue Trust Inc. grew its holdings in Olin by 34.3% in the fourth quarter. Blue Trust Inc. now owns 2,887 shares of the specialty chemicals company’s stock valued at $98,000 after purchasing an additional 738 shares during the period. Finally, Headlands Technologies LLC purchased a new stake in shares of Olin in the fourth quarter valued at approximately $127,000. Hedge funds and other institutional investors own 88.67% of the company’s stock.

Insider Activity at Olin

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

Olin Price Performance

Shares of OLN opened at $20.09 on Friday. The company has a current ratio of 1.27, a quick ratio of 0.77 and a debt-to-equity ratio of 1.32. The firm’s fifty day simple moving average is $26.27 and its 200-day simple moving average is $35.50. The firm has a market capitalization of $2.31 billion, a price-to-earnings ratio of 22.32 and a beta of 1.50. Olin Co. has a twelve month low of $19.34 and a twelve month high of $59.31.

Olin (NYSE:OLN) last announced its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $0.09 earnings per share (EPS) for the quarter, topping 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%. Equities analysts forecast that Olin Co. will post 1.38 EPS for the current fiscal year.

Olin Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, March 6th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.98%. The ex-dividend date of this dividend was Thursday, March 6th. Olin’s payout ratio is 88.89%.

Olin announced that its board has approved a stock repurchase plan on Thursday, December 12th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the specialty chemicals company to reacquire 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 shares are undervalued.

Analyst Ratings Changes

OLN has been the subject of several research analyst reports. UBS Group set a $28.00 price target on shares of Olin in a research report on Thursday, February 27th. Truist Financial lowered their price target on shares of Olin from $38.00 to $32.00 and set a “hold” rating on the stock in a research report on Monday, February 3rd. BMO Capital Markets reduced their target price on shares of Olin from $44.00 to $34.00 and set a “market perform” rating on the stock in a research note on Wednesday, February 5th. Citigroup cut their price target on shares of Olin from $34.00 to $30.00 and set a “buy” rating for the company in a report on Thursday, March 27th. Finally, Bank of America upgraded Olin from a “neutral” rating to a “buy” rating and lowered their price objective for the stock from $48.00 to $40.00 in a research report on Tuesday, January 14th. One research 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’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $36.69.

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.