Victory Capital Management Inc. Reduces Stock Holdings in Olin Co. (NYSE:OLN)

Victory Capital Management Inc. lessened its position in shares of Olin Co. (NYSE:OLN) by 27.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 459,255 shares of the specialty chemicals company’s stock after selling 170,649 shares during the quarter. Victory Capital Management Inc.’s holdings in Olin were worth $24,777,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in OLN. Truist Financial Corp increased its position in Olin by 34.1% during the fourth quarter. Truist Financial Corp now owns 16,552 shares of the specialty chemicals company’s stock worth $893,000 after buying an additional 4,212 shares in the last quarter. South Dakota Investment Council increased its position in Olin by 279.8% during the 4th quarter. South Dakota Investment Council now owns 60,392 shares of the specialty chemicals company’s stock worth $3,258,000 after purchasing an additional 44,492 shares in the last quarter. GAMMA Investing LLC acquired a new position in Olin in the 4th quarter valued at about $96,000. Illinois Municipal Retirement Fund lifted its holdings in Olin by 37.7% in the 4th quarter. Illinois Municipal Retirement Fund now owns 35,433 shares of the specialty chemicals company’s stock valued at $1,912,000 after purchasing an additional 9,703 shares in the last quarter. Finally, Wedge Capital Management L L P NC boosted its stake in shares of Olin by 5.9% during the 4th quarter. Wedge Capital Management L L P NC now owns 24,457 shares of the specialty chemicals company’s stock worth $1,319,000 after purchasing an additional 1,366 shares during the last quarter. 88.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Olin

In related news, CEO Scott Mcdougald Sutton sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $52.50, for a total transaction of $787,500.00. Following the transaction, the chief executive officer now directly owns 75,327 shares of the company’s stock, valued at approximately $3,954,667.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 78,896 shares of company stock valued at $4,136,061 over the last quarter. Company insiders own 1.80% of the company’s stock.

Olin Trading Down 0.7 %

Shares of OLN stock opened at $55.39 on Thursday. The company has a quick ratio of 0.80, a current ratio of 1.38 and a debt-to-equity ratio of 1.22. Olin Co. has a fifty-two week low of $41.71 and a fifty-two week high of $60.60. The firm’s 50 day moving average price is $55.89 and its two-hundred day moving average price is $51.98. The stock has a market cap of $6.61 billion, a price-to-earnings ratio of 19.92, a price-to-earnings-growth ratio of 0.31 and a beta of 1.48.

Olin (NYSE:OLN) last issued its earnings results on Friday, April 26th. The specialty chemicals company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.02. Olin had a net margin of 5.32% and a return on equity of 14.47%. The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter last year, the firm posted $1.16 EPS. The business’s revenue for the quarter was down 11.3% compared to the same quarter last year. On average, analysts anticipate that Olin Co. will post 3.68 EPS for the current year.

Olin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Thursday, May 9th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend is Wednesday, May 8th. Olin’s payout ratio is 28.78%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on OLN shares. Wells Fargo & Company boosted their price objective on shares of Olin from $56.00 to $60.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 3rd. Royal Bank of Canada reduced their price target on Olin from $69.00 to $63.00 and set an “outperform” rating on the stock in a research note on Monday, April 29th. The Goldman Sachs Group lifted their price objective on Olin from $55.00 to $61.00 and gave the company a “neutral” rating in a research report on Tuesday, January 30th. Citigroup increased their target price on Olin from $63.00 to $67.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Finally, Bank of America lowered their price target on Olin from $74.00 to $72.00 and set a “buy” rating for the company in a report on Monday, April 29th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $60.00.

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.